Sale of BTL Flat

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    Sale of BTL Flat

    Hi All,

    Ive owned a flat which I bought in 2003 as a leasehold. It’s a converted house divided into two flat. I purchased a 125 year lease and when the ground floor flat sold a few years later the freehold was transferred to both leaseholders jointly.

    Unfortunately the owner of the downstairs flat has been reluctant to agree a service charge account to deal with common areas (namely the building itself, roof, drains, etc) He’s reluctant to agree to what he’s jointly responsible for and therefore what would normally be considered joint costs have been dealt with separately (building insurance being an example).

    As a result there is no record of ‘service charges’ to speak of. Is this likely to put off a prospective purchaser? I’ve always paid for roof repairs irrespective of whether I’m fully responsible because I simply couldn’t leave the repair. He maintains this is my responsibility when my lease shows 50/50 for roof, drains, and outside space.

    Any advice on whether this will be an issue if I find a buyer?

    thanks

    #2
    If the buyer will get a good conveyancer or solicitor, they would pull out.

    Comment


      #3
      Well, unless the price would be reasonable

      Comment


        #4
        Thank you. This is as I suspected, although the downstairs tenant would prefer me to sell rather than let it to tenants again. Therefore it’s also in his best interests to rectify this also. Can I rectify this with a Deed of Trust or other legal framework to safeguard both parties? I have the original lease, but at the time didnt own the freehold, this was transferred at the point he purchased the downstairs flat in 2007. I’m unaware of what his lease stipulates vs. mine and am therefore slightly confused as to why he is saying the responsibilities aren’t 50/50.

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          #5
          You don't need another document , you need to enforce the one you have. You can get a copy of his lease from land registry but it will undoubtedly mirror yours.
          This is a frequent problem with RTMs and shared freeholds which many see as an excuse to spend diddly squat.

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            #6
            Thank you. I can’t see the leases listed under the land registry site. Just Title Register. My lease was granted in 2003 before the freehold was transferred when he purchased the downstairs in 2007. Should both leases be listed under the land registry listing. I can see it’s leasehold but can’t purchase the documents for some reason

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              #7
              You need to send a form to them requesting a lease, cost is 7 pounds.

              And even with the freehold, there are still issues, though better opportunities for enforcement.

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