Things to consider before buying your home

Leasehold charges are charges which are payable by the leaseholder to the landlord, for the services the landlord is obliged to provide under the terms of the lease. Charges will usually vary from year to year, depending on the costs the landlord incurs. Leasehold properties are mainly leasehold flats.

Ground rent

Ground rent is a payment to your landlord which is included in your lease. Your landlord does not have to provide a service in return.

Insurance premium

Your landlord will usually be responsible for insurance of the building (not the contents). An insurance premium is in place to cover these costs.

Management fee

A management fee is part of the service charge which is payable to the landlord or manager, in return for managing the leasehold property. This will include covering various administration services, such as the sending of invoices, the maintenance of the lease, and dealing with customer enquiries.

Repairs charges

Repairs charges are the charges incurred for any repairs or planned maintenance to your home.

Consulting on charges

As a leaseholder, the landlord must consult you on charges for running or maintaining the building where you have to pay:

• More than £250 for planned work
• £100 per year for work and services lasting more than 12 months

For further information, please complete our right to buy contact form or telephone 01455 255635.

Last updated: 15/01/2024 12:46