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Conveyancing

Freehold & Leasehold Conveyancing Solicitors

You can trust us

If you are considering purchasing your freehold property or extending your lease extension then look no further.

At Browell Smith & Co Solicitors we have an expert team of with years of experience in this field to guide you through the process.

It is important to act quickly when buying your freehold or extending your lease as the longer you leave it the more your landlord will charge. The longer you leave it, the less valuable your property may become.

You can trust Browell Smith & Co Solicitors to negotiate the potential pitfalls to ensure a successful and stress free outcome for you.

Contact our expert team today to arrange a free initial consultation at any of our offices, in Newcastle, Cramlington, Ashington and Sunderland, or alternatively at your home, to discuss your particular requirements.

Freehold Explained

In short, the freeholder of a property owns it outright, including the land it is built on. This means that if you own/buy a freehold you’re responsible for maintaining your property and land (it’s important to budget for these costs accordingly). There are many benefits to owning a freehold, the main one being that you won’t have to worry about the lease running out as you own the property outright.

Leasehold Explained

With a leasehold, you own the property for the length of your lease agreement with the freeholder. This means that when the lease ends, ownership returns to the freeholder (unless you can extend the lease). If you’re purchasing a leasehold it is important to consider how many years are left on the lease (most mortgage lenders won’t lend on a property with a lease under 70 years)- however, you can ask the landlord to extend the lease at any time.

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