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Viewing an ex local authority flat
ahfat41
Posts: 383 Forumite
What are the disadvantages of buying an ex local authority property?
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Comments
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flat? That your neighbours are less than neighbourly (obviously thats not limited to flats or council properties!) and that the council will decide to do works on the flats or wider on the property/estate and you receive a bill for five figures"You've been reading SOS when it's just your clock reading 5:05 "2
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Flat or house?If a flat then maintenance costs can be an issue and LA's tend to use larger contractors (who might typcially charge more than local builders).Some lenders have restrictions regarding ex LA properties so that could limit your future resale market.1
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It is mostly that you can suddenly get a demand for £1000s as your share of a repair needed. The council tenants don't pay it but the leaseholders do and it can be very expensive.
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Flat a block of five at the end of a terrace
Service charge £1200. Not sure whether building insurance is included
Seems expensive for only the halls and lights
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Tenants pay repair costs through their rent.Cakeguts said:It is mostly that you can suddenly get a demand for £1000s as your share of a repair needed. The council tenants don't pay it but the leaseholders do and it can be very expensive.
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Restrictive covenants and sometimes, some tenants from dodgy backgrounds, but this is usually a myth.0
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My husband bought an ex LA flat just before we met, it was all he could afford.
Within a year he was forced to pay £5k for 4 windows when the existing ones were perfectly fine and the very quiet tenant upstairs was replaced by the neighbour from hell. Luckily we were able to sell it after a few years, but it was not a nice experience.0 -
An advantage is that the council tax is usually the cheapest band A.
Get your solicitor to check whether the flats which abut yours are council owned or privately owned if you're concerned.0 -
Cakeguts said:It is mostly that you can suddenly get a demand for £1000s as your share of a repair needed. The council tenants don't pay it but the leaseholders do and it can be very expensive.Of course tenants don't pay for maintenance, neither do private tenants. If there are 10 flats and half are privately leased then the council pay half (for the flats they own) and the private leaseholders pay a share each.
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