Table of Contents
What is a reasonable leasehold?
There is no minimum or maximum amount defined by leasehold or property law. There is also no legal definition of what is considered ‘reasonable’. However, the charges for your block must be based on the actual costs of maintenance and management.
What is an average service charge on a flat?
The estimated average service charge bill in London is about £1,800 to £2,000 a year, according to the website of the HomeOwners Alliance, which says: “Anything over £5,000 is expensive, and you should definitely be asking questions.”
Are all flats leasehold in UK?
Most flats are leasehold. Houses can be leasehold too and usually are if they’re bought through a shared ownership scheme.
Can you extend a lease on a flat?
All leaseholders who can extend their lease will have the right to do so by 990 years. Currently, leaseholders of houses can only extend their lease once, by a 50-year period, while leaseholders of flats can extend leases as often as they wish for a 90-year period.
What happens when a lease runs out on a flat?
What happens when the leasehold expires? When the leasehold expires, the property reverts to a freehold property, where it is under the ownership of the freeholder in addition to you no longer having the right to stay there.
Who is responsible for the roof in a leasehold flat?
The freeholder
Your lease will set out who is responsible for carrying out repairs to your home, the building and to any shared facilities. The freeholder is usually responsible for arranging repairs to: the building’s structure, including the roof and guttering. shared parts of the building, such as lifts and communal stairways.
Who pays service charge on flat?
When a rental property is contained in an apartment block or housing development, either the tenant or the landlord may be expected to pay an annual service charge. This charge will usually cover maintenance and repair work in communal areas.