Buying and selling leasehold and new builds
Our experienced solicitors can assist you with the sale and/or purchase of leasehold property and new builds. Leasehold and new build transactions often involve matters that don’t apply to an ordinary sale or purchase. We can help you with all aspects of the transaction from taking your initial instructions through to the completion of your leasehold and/or new build sale or purchase.
WORTHWHILE INVESTMENT
When you buy a leasehold property, you are only purchasing part of the building that you will be living in (usually a flat), but you don’t own the land upon which it has been built. You also purchase a lease from the owner of the land, who is the freeholder. The lease can vary in duration, from years to centuries. You can pay to extend the lease, but whether this is a worthwhile investment will depend how long you have left.
A ban on all leasehold agreements for new build houses
In 2019, the Government announced a ban on all leasehold agreements for new build houses. This will tackle unfair leasehold practices and prevent unnecessary leaseholds. Flats will continue to be sold on a leasehold basis. The legislation surrounding leaseholds are currently being reviewed, and the costs of extending your lease and ground rent charges could change dramatically, so it could be worth waiting for the leasehold reforms to come into effect.
Purchasing a new build
Whilst it is an exciting time to buy a brand new property and be the first to live in the property, new builds can involve a lot of paperwork and legal matters which can be confusing. We will help you to understand this and explain the process to you. If you are having a mortgage, we will also check your lender’s requirements to ensure that everything is satisfactory.


ARE YOU A LEASEHOLDER OF A PROPERTY?
Contact Cleaver Thompson Solicitors in Alfreton and Clay Cross today to check whether you are paying more than you need. We can also help you with understanding your right to buy and buy to let, plus transfer of equity and remortgaging.
ALFRETON OFFICE
5 & 7 King Street, Alfreton, Derbyshire, DE55 7AE
Tel: 01773 301858
CLAY CROSS OFFICE
6a Eyre Street, Clay Cross, Derbyshire, S45 9NS
Tel: 01246 865048