Buying my council property

sammyw84

Hi all

I have a few questions on buying our council place.

so we live in a maisonette and are looking to buy it either towards the end of this year or maybe next year, were not sure if a L.I.S.A or First time buyer I.S.A would be best for us (we only need £4000 deposit.

Also do we need to buy building insurance or will the council still maintain the roof and exterior? what about a shed downstairs in the shed block?

and is there specific mortgage companies we need to go to as its a right to buy? (we have fair to ok credit)

thanks in advance for any help you have. x

teddysmum

You have right to buy, but the council does not have to sell, so check this first.


As with a regular flat, the council will maintain the structure of the block,but should they decide to upgrade the whole facia or whole roof etc,you could end up with a hefty bill, which the council tenants will not have to contribute to.


Some people with ground floor flats have had to contribute to the upkeep of lifts, even though they don't use the lift, so likewise ,you could end up being billed (councils don't always go for the cheapest option) for part of the block that you never enter.

hazyjo

Following on from teddysmum, you can't insure against this either unless it's resulted in damage from say a leak through the roof. If the roof has come to the end of its natural lifespan, you will be paying for it, not any insurance company. Councils seem to like to replace windows too so that might be another very large expense in the future.

Cakeguts

Generally speaking buying an ex council flat can be a problem because if the council decides to repair the roof which can be quite expensive you will get a bill for that. Once you own an ex council flat you get bills for any repairs or upgrades the council thinks that they want to do. If you are a tenant you don't pay for it but as flat owner you will get a bill and some of them can by quite big. Lots of people know this about council flats so they can be more of a problem to sell. So work out what the council pays for now in terms of maintenance and when you buy the flat that is what you will pay for. It can sometimes work out cheaper to stay as a tenant and pay the rent than it can to buy and pay the maintenance.

sammyw84

thanks for your replies, yes i was speaking a friend who brought an identical property to me she was billed £500-£600 per year it did vary every year but had an itemised bill off the council as to what they had done in the communal areas and it was mainly just replacing light bulbs.. she even argued some of the work such as fixing the shed doors when she did not have hers done and when they failed to replace a stair well bulb after it being reported twice it took over a week andshe got a reduction on that as she had to buy a torch!! lol
there are no lift or anything fancy as its just a maisonette block,

she also said that you do not need a deposit when doing a right to buy? not sure about this either!

but she also said she doubled her money when she sold it... (i know the flat in the next block to me sold well last september)