buying a council flat ?

goodwithsaving

Speak to the council, get some more information. Too many variables / unknowns and they may help get you clued up on that particular property and the way leaseholds operate.
Personally, I won't touch former council properties with a bargepole especially if leasehold.

forgotmyname

travelmonster wrote: »

did she find a buyer ? or is she is in the process of selling it ? as to the service charge . is that just like a ground rent ? and was it proportionate or a rediculous figure ?

They are only testing the water at present, doing the sums to see it it makes sense financially at present.

Although they have valuations on the property it was mentioned that few people would get a mortgage because of the lease so they bought that thinking its probably just going to cost more the longer they leave it.

Service charge is not outlandish, but terms about leaving access for scaffolding if required may mean a future buyer cannot extend it or put up a conservatory etc.

You really do need to be careful it seems. What if they council decide to sell the block later. Could the service charge increase?