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Buying a flat when the Council is the Freeholder

5 replies

Muddle2000 · 23/11/2023 16:00

It is a small purposebuilt block in a good area The owners of the other flats are
all owner occupiers and nice

OP posts:
boudiccathecat · 23/11/2023 16:07

Probably better than a private freeholder

civetcat · 23/11/2023 16:21

Your rights regarding works are different, which can affect service charges.

Having said that, I'd have nice neighbours as a high priority. Purpose-built council flats are often well designed, with enough storage space etc.

While your solicitor should be able to advise, check with the other residents about how much service charges have been over the years and look up council leaseholder stories in the local press.

If the other residents have been there a long time, that could be a good sign.

From the Guardian: 'Unlike residents in privately owned buildings, local authority leaseholders have no right to decide the scope and timing of proposed works, or to request alternative quotes from contractors.'
https://www.theguardian.com/money/2023/jan/16/leasehold-nightmare-why-owning-a-council-flat-could-land-you-with-a-wipeout-bill

Leasehold nightmare: why owning a council flat could land you with a ‘wipeout’ bill

Growing numbers of people are getting demands for ‘completely unaffordable’ sums that they fear may mean them losing their home

https://www.theguardian.com/money/2023/jan/16/leasehold-nightmare-why-owning-a-council-flat-could-land-you-with-a-wipeout-bill

Muddle2000 · 23/11/2023 16:52

The service charge is very reasonable and of course I could have a survey

OP posts:
Muddle2000 · 23/11/2023 16:53

I mean there are no lifts fire doors etc and only 2 floors

OP posts:
MrsFawkes · 23/11/2023 17:17

Think twice! I bought an ex LA flat and happily rented to a single mum. 2 beds, very long lease etc.

Service charges became onerous so when my tenant moved out I decided to sell.

Just after it went on market we were invited to a meeting with the LA who advised us they would be updating the block: new double glazing, new flooring in hall ways, decorating communal areas, solar panels, new bin stores, etc. Cost to us would be £12,500 please but I could have a loan over ten years!

No thank you!

Fortunately the flat sold with no issues but be very careful and wary of LA flats. No matter how much research you do in advance it can suddenly bite you on the bottom.

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