Are accounts for share of freeholders public information?

pernes

Hi I am looking into purchasing a flat where all owners have a share of the freehold, is this information available to the public? I am finding it difficult to find out how much they have in the sinking fund and as I haven't yet made an offer . The current owner is in a nursing home and the estate agents don't have this info available and tell me to contact my solictor which I don't want to have to pay them just for this information at this stage. The yearly maintenance seems high and I want to know exactly what it covers, I am told that no supplements are needed. Is there anywhere that I can view the accounts online? Do share of freeholders have to be registered?

Debt_Free_Chick

No its not public information - in the same way as the accounts for any private company, are not "public".

I guess the EA is simply acting for the seller rather than the freeholder. The seller would have a right to see the accounts .... so I wonder why the EA can't simply ask, on behalf of the seller?

Perhaps suggest this to the EA

martinman3

As DFC says the maintenance accounts which you require are not usually made publicly available but only to the leaseholders. The buyers solicitors will ask for this information from the Managing Agents in addition to proof that the seller is up to date with maintenance/ground rent payments and other info and the lease usually specifies that a payment will be necessary to the managing agents to provide this info, so at the moment you will have to pay directly/indirectly. However, I believe this info is meant to be in the HIP for leasehold property and as that will cover your property from Dec 14th after that date the seller will pay.

If the share in freehold really is a share in a limited company then the company accounts and a list of shareholders is available from companies house for a small fee. You would have to get the name of freehold company from Land Registry website first if you do not know it already. Note that these accounts are different and usually relate only to ground rent income or may be be generated at all if the limited company is intentionally dormant, to save money.

pernes

Many thanks to you both for the info.

Doozergirl

You could knock on a neighbours door, tell them you're thinking of buying. Ask them how it is to live there and see what you can guage from them. If people have a high service charge, they tend to know what it's for.

It's just that if the vendor goes directly to the managing agent, it will no doubt take forever. It all has to be done as part of the conveyancing but you might just get a good enough idea to make an offer, or not.

Richard_Webster

You could knock on a neighbours door, tell them you're thinking of buying. Ask them how it is to live there and see what you can guage from them. If people have a high service charge, they tend to know what it's for.

You can't do common sense things like that.....!!!!