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What to do when buying a flat

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  • You can visit their site http://www.landregistry.gov.uk/public/online-services
    which tells you details of fees and ordering procedure. Never used it myself so I can't give any feedback.

    Good post from Propertyman;

    From my experience, I don't like 'leasehold' properties - but a good rule of thumb is that if the freeholder/landlord lives on the property, then s/he has an interest in keeping the place in good order

    As far as I can tell, without a business account, you can only get the title register, plan or flood report, not the lease. No details of how to order a lease are given on the website, as far as I can find.

    I have contacted their help dept so will see what they say.
    Mortgage received 21/12/2018
    Mortgage at start - £261,980
    Current mortgage - £260,276
    Saving towards a loft conversion first, then to smash the mortgage down!

  • ..-the paper survey which looks at questions raised by you and your solicitor so that you can establish how well the property is being looked after
    • This starts with looking at the budget and past accounts

    The issue of accounts reminds me of an experience I once had.

    An 'overspend' of the previous period's maintenance budget for a property may well not be disclosed until after the buyer has moved in. Many buyers' solicitors (and vendors) will agree an amount of money to be kept 'on account' to cover unforeseen 'overspends', for which the vendor is liable, (this money is then refunded to the vendor if the accounts are OK). Seems reasonable to me.

    The experience I once had was of the vendor's side refusing absolutely point blank to put any money 'on account'. Could give the buyer something else to consider.

    I pulled out of that purchase - but more because of 'defects' in the lease identified by my solicitor. I agree with Buzzyzoe's point: it would be nice to get a copy of the lease more easily (as you could in many cases in the days of HIPs) so at least you can be 'forearmed', although a solicitor's advice is indispensable.
  • ankspon
    ankspon Posts: 2,371 Forumite
    Check the soundproofing,i speak from experience.
  • I want to know if we are purchasing a flat on a rent but the loan is taken by flat owner, How to deal paper work in this situation.
  • The issue of accounts reminds me of an experience I once had.

    An 'overspend' of the previous period's maintenance budget for a property may well not be disclosed until after the buyer has moved in.......... I agree with Buzzyzoe's point: it would be nice to get a copy of the lease more easily (as you could in many cases in the days of HIPs) so at least you can be 'forearmed', although a solicitor's advice is indispensable.

    1 But HiPS didnt apply to flats, they were excluded.

    2 In the case of lease granted after 1-1-96, the vendor is liable for charges prior to an assignment (sale) unless you undertake to reach an agreement which you are not as it falls on him, you could have left him with the bill :)
    Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
    Actively hunting down the person who invented the imaginary tenure, "share freehold";
    if you can show me one I will produce my daughter's unicorn
  • 1 But HiPS didnt apply to flats, they were excluded.

    Interesting. I bought a flat, in Colchester, just before HIPs were scrapped. When I phoned the agent, I had no problem in getting a pack, including a copy of the lease.
    Either the agent and sellers was acting above and beyond the call of duty, or didn't know when HIPs applied...? :undecided
  • AndyGuil
    AndyGuil Posts: 1,668 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    This is a useful guide. I'm about to move on to a larger flat so I will be putting it into use.
  • Brunbjorn wrote: »
    Interesting. I bought a flat, in Colchester, just before HIPs were scrapped. When I phoned the agent, I had no problem in getting a pack, including a copy of the lease.
    Either the agent and sellers was acting above and beyond the call of duty, or didn't know when HIPs applied...? :undecided

    Because, though they were not compulsory, they were useful and a nice little earner :)
    Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
    Actively hunting down the person who invented the imaginary tenure, "share freehold";
    if you can show me one I will produce my daughter's unicorn
  • Useful to clarify that: HIPs weren't 'compulsory' for flats - but you could still get them ;)
  • propertyman
    propertyman Posts: 2,922 Forumite
    re bump :D
    Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
    Actively hunting down the person who invented the imaginary tenure, "share freehold";
    if you can show me one I will produce my daughter's unicorn
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