A couple of questions-damp/mortgage

andrewm1981

Hi, I have a couple of questions,

I'm interested in purchasing a flat I've seen. It's a repossion, and generally in good condition. However, I have 3 questions:

It's a repossion, and I'd be buying it as a buy-to-let investment.

It's on the top (5th) floor of a 1930's council style block. The roof is flat. The flat is empty and across the ceiling of the whole flat there is fairly bad black spot mould. I can only assume that there is some sort of moisture ingress that is allowing this. The flat is clearly not rentable at the moment for this reason.

Obviously all blocks are different, but would the freeholder be liable for the repair? The annual service charge is £1500. Or would it be down to the flat owner? Or alternatively would, say just the top floor flats be liable? I assume it's the first.

Secondly, to avoid posting another thread I'll ask here. Would there be any problems in getting a buy-to-let mortgage on a 5th floor flat? I know some prohibit higher floors, 8+, but the plan would be to buy it cash then get the mortgage after.

It seems like a good price (£170k) in zone 4 south London for a 3 bed, decent sized (85sqm) flat, and I don't want to miss out for something that is a non-issue!

Thanks in advance

Andrew

G_M

andrewm1981 wrote: »

It's on the top (5th) floor of a 1930's council style block. The roof is flat. The flat is empty and across the ceiling of the whole flat there is fairly bad black spot mould. I can only assume that there is some sort of moisture ingress that is allowing this. The flat is clearly not rentable at the moment for this reason.
Indeed.

Obviously all blocks are different, but would the freeholder be liable for the repair?
Read the lease! What does it say? I can't read it from here!

The annual service charge is £1500. Or would it be down to the flat owner? Or alternatively would, say just the top floor flats be liable? I assume it's the first.
Again - I can't see the lease so have no idea.

Secondly, to avoid posting another thread I'll ask here. Would there be any problems in getting a buy-to-let mortgage on a 5th floor flat? I know some prohibit higher floors, 8+, but the plan would be to buy it cash then get the mortgage after.
Ask on the mortgage forum, or better still, see an ndependant mortgage advisor.

It seems like a good price (£170k) in zone 4 south London for a 3 bed, decent sized (85sqm) flat, and I don't want to miss out for something that is a non-issue!

Thanks in advance

Andrew

Good luck with your enquiries.