In an open-market sale or a shared ownership resale, the lease is ‘assigned’ to the new owners. This means that the new purchaser takes over the existing lease and all the responsibilities attached to it.
To protect the buyer’s interests and comply with the terms of any mortgage, the purchaser’s solicitors will usually ask for information on:
- ownership of the property – details of the freeholder and any managing agents
- any statutory notices served on the current leaseholder
- any major repair schemes planned in the next five years
- service charge accounts (estimates and actuals)
- the buildings insurance schedule
- the current balance on the service charge/sub account
- the current fire risk assessment
- any asbestos reports
- the amount of ground rent
Request a landlords' enquiry pack
To request a landlords' enquiry pack, please email firstname.lastname@example.org with your full name, full address and details of your solicitor, including their email address.
We will contact your solicitor with details of the cost of the pack and how they can pay the fee.
After payment has been received, the pack will be emailed directly to your solicitor, this can take up to 15 working days.