Things to consider when purchasing a flat
Flats are sold leasehold and are usually on a long lease. The lease gives you the right to live there in the property during this period. You may sell the lease during this time. The London Borough of Ealing owns the land and building and will be your landlord.
You will sign a lease when you purchase your property and this sets out your obligations to the landlord and your rights. The lease will detail what the landlord has to do to maintain the communal areas of the building, how you have to pay for it and how you have to maintain the inside of your flat.
You will be sent a copy of the draft lease to read prior to the sale. You should check it carefully and ask your solicitor to advise you. Once you have bought the flat, you will be bound by the terms of the lease..
You will have to pay your share of the costs of works to the building and communal areas and include:
- The landlord’s cost in maintaining the common parts, structure and exterior of the property. These are likely to be repairs to, or replacement of, the roof, windows, lifts, staircase or external painting. These costs can sometimes be very high.
- The cost of any service provided by the landlord such as caretaking and day-to-day maintenance of the grounds, lighting for halls, stairways and footpaths.
- The costs of any improvements to the structure, for example the installation of door entry phones.
- The landlord’s management costs and the cost of insuring the structure and outside of the flat against accidental damage.
When you buy under the Right to Buy we will tell you in your offer of sale how much the flat will cost and we will provide you with:
- Estimates of the costs of any major works which we are planning to carry out during the first five years. These estimates are binding and can only be increased in line with inflation. If any works are delayed until after the five-year period, you will have to pay the full cost.
- Estimates of any other service charges, for example caretaking, cleaning, lighting etc. Estimates for these service charges are not binding and can rise by more than inflation, even during the first five years.
