I have been asked on a few occasions recently ‘What should be included in a CQS Purchase of a Leasehold Policy‘.
The leasehold landscape is rapidly changing, so your firm’s policy should be frequently under review. During a recent CQS mock audit I noted a particularity thorough policy where the table of content included:
Financial implications of leasehold
Ground rents and onerous clauses
Marketability and mortgageability of leasehold
Implication of 35 year Mortgages on Leasehold
Management information
Referrals and conflicts of interest
Building Safety Act 2022 – Purchase & Sale Cases
Comprehensive reporting on leasehold
