Leasehold - how much?

Skint_Catt

The block of flats where I am looking to buy is leasehold. Is there a website which would tell me how much the leasehold payments are?

Or can someone give me an idea of what they pay?

Thanks

S_C

oh_heck

This should help costs depend on various factors and vary from building to building

Ian_W

Ohhh, over-complicated!!

Try HERE but if you can understand it all please let me know!!!!!

EDIT: Sorry, misunderstood question, that's about buying or extending a leasehold you already own. Varies from property to property. EA should be able to find out from vendor or your solicitor will if you have an offer accepted. Usually there is a ground rent then a monthly maintenance charge for up keep of communal ares. Depends who owns L/H, could be all residents thro' a company you all own [best] or could be owned by a third-party.

Doozergirl

Service charges vary to large degrees The agent should be able to tell you what yours would be, if their details already don'tv give that information.

On a conversion of four flats, ground rent is £10pa, service charge is £500pa each. This pays for buildings insurance, buildings maintanence and grass cutting.

You could pay upwards of £2000 though; if it is a large block, an old building, has a sinking fund, swimming pool, has a large garden to upkeep or communal areas that need cleaning. Sometimes the heating and hot water is included in the service charge too!

Ultimately though, the freeholder has to charge you sensibly for the services you receive, they have to justify the price and you can ask to see accounts.

Skint_Catt

ok, thanks for this guys - Doozer girl, that was better than expected!

The flats aren't grand by any imagine, no manicured gardens, just car park - two tower blocks and a duplex block. I was budgeting for £100 a month but hoped this would be over budget! I don't really want to go to the agent at the mo as I have a few more months saving to go for the deposit and I'm about to change my job, so have to wait the 6m before I can get mortgage agreed.

Thanks again,

S_C