7 Sep

Leasehold Purchases Causing Grief for Home Owners

Finding the right property solicitor when buying your home could be more important than ever, according to results from the new study, who surveyed 1,103 people about their house purchase.

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Are you buying a house with a leasehold?

A new study has revealed that homeowners in the dark over leasehold terms. Research by NAEA Propertymark has highlighted confusion and lack of information that surrounds many leasehold house purchases.

As covered by Which?, nearly eight in ten people (78%) bought their homes directly from a developer, and over six in ten people (65%) had used a solicitor recommended by the developer.

The importance of instructing your own property solicitor

At Homeward Legal, we would always suggest you consider instructing your own solicitor for your conveyancing, rather than going on the recommendation of a property developer or an estate agent. Having an independent legal professional looking at your house purchase means that you are likely to get a rounded view of the risks of your leasehold. 

A spokesperson for the Home Builders Association said: “In all transactions, builders strive to provide prospective purchasers, their solicitors and their mortgage lenders with all relevant information. Purchasers are always advised to engage their own legal advice during the purchase of a home.”

Make sure you know everything about your leasehold purchase before going ahead

We pride ourselves on our fixed fee, transparent conveyancing service. When you run a free quote with Homeward Legal, we specfically ask about the property tenure – whether it’s freehold, leasehold or share of freehold. Your answer to this question will determine how we handle your quote and enquiry.

The staff at Homeward Legal can talk to you at length about leasehold if needed, and if you’re ready to instruct we can soon put you in direct contact with the solicitor who will look after your purchase. Please call us any day of the week on 0800 038 6699 or email [email protected] and someone will get back to you.

Click on the link when you are ready to get your free purchase conveyancing quote.