AN EXPERT in property law has urged homebuyers not to be put off if a property is leasehold.

Amy Leslie, a solicitor at law firm Napthens in Cumbria, says buyers should be comfortable with the prospect, despite recent controversies involving leasehold.

With leasehold properties, the land a property is sited on is owned by a landlord, and the tenant usually pays ground rent and costs to carry out certain work to the property.

Recently the property industry was hit by concerns that some property developers had been selling new-build homes with controversial ground rents that often saw rapid increases after a home had been purchased.

However, Amy says leasehold is simply another form of legal ownership and, with professional advice, should cause no issues.

"Some prospective purchasers may feel nervous about the thought of buying a leasehold property, or are put off altogether," she told the Gazette.

"It is important, though, that when purchasing a property, legal advisors will review a lease in detail to ensure the provisions are reasonable and would point out any potential issues which may arise."

Amy said it is the responsibility of conveyancers and estate agents to work together to ensure purchasers are made aware of the basic provisions of the leasehold interest they are looking to buy. They include the remaining lease term, whether the property is shared ownership, the level of ground rent and service charges payable.