Converting a freehold house into flats is becoming more and more common as people try to find ways to supplement income and maximise assets.
If you are thinking of converting your property into flats, contact us to discuss your plans and how we can help.
If you are looking to mortgage or sell the flats then it will be essential that the title to the property is also 'converted' into a leasehold scheme.
There are various types of leasehold arrangements and it is important that the right scheme is implemented in order to ensure the most cost effective running of the flats as well as future marketability of the flats. It is also important to ensure that the leases are correctly drafted in order to meet a lender's requirements, as well as those of a future buyer.
A poorly drafted lease can cost thousands to remedy, so it is much better to get it right first time.
We have a team of experts who have experience in drafting effective leases which minimise any difficulties when selling or mortgaging the flats in the future.
We can:
Once you decide to go ahead we will supply you with a simple questionnaire which will cover the basic information. Once you have the plans for the lease, we will normally request a meeting (online or in person) to run through the plans and questionnaire to enable us to understand how the conversion will take place and how the flats relate to each other. We will then prepare an initial draft of the lease within 4 weeks from receiving final information from you.
We wanted to say a huge 'thank y ou' to you for your work for us... especially in challenging circumstances. The service was so efficient - same as it always is! You deserve a medal! Thank you again, will be in touch for our next sale or purchase!
Our team consists of experienced conveyancing solicitors who offer a professional legal service, underpinned by technology and supportive staff to help you through the process.
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