Leasehold vs freehold: what changes on a conveyancing file

On paper a leasehold and a freehold purchase follow the same path: instruction, contract pack, searches, enquiries, report on title, exchange, completion. In practice the leasehold file carries a second workstream that often sets the pace of the whole transaction.

The lease itself needs reviewing, and so does what it costs to own: the LPE1 management pack from the managing agent, the service charge accounts and budget, any major works, the ground rent and how it escalates. Lease length matters to lenders and to resale, so anything under 85 years needs flagging early. Since the Building Safety Act, the leaseholder deed of certificate and the landlord's certificate are part of the picture too. After completion come the notices of assignment and charge to the landlord, and sometimes a deed of covenant. On a sale, the LPE1 is so often the longest lead time that it should be ordered on day one.

A freehold file has its own checks - restrictive covenants, easements and rights of way, and on many newer estates an estate rentcharge or management company that the buyer will be paying into.

Noviqent builds this into the pipeline rather than relying on memory. Choose leasehold or freehold when the file opens and the right steps are there from the start; change it later and the file re-syncs, adding what now applies and keeping everything already done. A mortgage works the same way, adding the offer, the lender's leasehold requirements and the certificate of title only where they belong.