First time buyer checklist for a leasehold flat

Before you book a second viewing, find out whether the flat is leasehold at all, and how long the lease has left. Most flats are leasehold, but it's worth confirming rather than assuming.

HM Land Registry's free property search tells you only whether a property is freehold or leasehold, plus its title number. That's useful, but it's thin. For 7 pounds each, you can download the title register, the title plan and a copy of the filed lease from gov.uk. Spend the money. A few quid now can save you a very expensive surprise later.

Ask the agent too, but treat what they say as a starting point. Agents get lease details wrong more often than you'd like. The documents are what count.

This is the big one, so check it first. A lease is a countdown. Every year there's less left, and a short lease can make a flat hard to mortgage and hard to sell on.

Lenders set their own rules, but they commonly want around 70 to 85 years left when you apply, and 30 to 40 years left when the mortgage ends. So a flat with, say, a lease that looks fine today can still be a problem if it runs short during your mortgage term. Ask your broker early what your likely lender wants.

Here's the part people miss. If a lease has fewer than 80 years left, extending it gets pricier because marriage value kicks in. The Leasehold and Freehold Reform Act 2024 abolishes marriage value, but that part is not in force and has no start date. So for now, it still applies. Don't price a flat on the assumption it's gone.

Good news on timing. The old rule that you had to own a flat for two years before claiming a statutory lease extension was abolished from 31 January 2025. You no longer have to wait. Still, an extension costs real money, so ask a solicitor to confirm the current position before you rely on any of this.

Next, read what you'll actually be paying the freeholder. Ground rent is the obvious one. New long residential leases granted from 30 June 2022 carry a peppercorn ground rent, which means effectively nothing. Older leases can be different, so check the figure and, crucially, whether it rises and how.

Look for ground rent that doubles at set intervals. It can look trivial at the start and become a nuisance later, and some lenders dislike it.

Then skim the rest of the lease for the stuff that shapes daily life. Can you keep pets? Can you sublet? Are there rules on flooring, or on running a business from home? Your solicitor will go through it properly, but you should know the headline restrictions before you offer.

Service charge is where first time buyers get caught out, because it's not fixed. It covers the building's upkeep, insurance and management, and it can change.

Ask for the last few years of accounts, the current budget, and whether there's a reserve or sinking fund for big jobs like roof repairs. A building with no reserve and an old roof deserves a hard look. Ask whether any major works are planned or already being discussed, because you could inherit a bill that was agreed before you arrived.

Find out who manages the building, whether that's the freeholder, a managing agent, or a residents' company. Ask the seller how responsive they are. A neighbour in the stairwell will often tell you more than a brochure ever will.

Your solicitor will send a management pack questionnaire to the seller's side. Make sure it gets answered fully, and read the answers rather than just waiting for the all clear.

Now the part that has become much more important. Ask about the building's fire safety and structural paperwork, especially in taller or newer blocks. You want to know whether a fire risk assessment exists, whether it's current, and whether any remedial work has been identified or is outstanding.

Ask too whether the building has cladding, and if so whether it's been assessed. Lenders and valuers can ask for evidence on this, and a flat that can't produce it may be hard to mortgage. That can hit you at the worst moment, after you've paid for surveys and legal work.

Building safety rules and who pays for fixes have changed in recent years, and they may change again. So don't rely on a blog, including this one, for the current position on who bears the cost. Confirm it with your solicitor before you commit.

Also check the buildings insurance. Who arranges it, what it costs, and whether the policy is in date. It's usually bundled into the service charge, but it's worth seeing the schedule.

Once the flat passes the basics, put the right people on the job. Use a solicitor who handles leasehold sales regularly, not just a cheap general conveyancer. Ask them straight out how many flat purchases they do.

Tell your mortgage broker it's a leasehold flat from day one, and share the lease length. Each lender sets its own figure, so a flat that's fine with one can be declined by another. Better to learn that before you pay for a valuation.

Here's the order in one go.

1. 1Confirm leasehold and download the register, plan and lease for 7 pounds each.
2. 2Check the years left on the lease against likely lender rules.
3. 3Check ground rent and any rises.
4. 4Review service charge accounts, reserve fund and planned works.
5. 5Ask for fire and building safety paperwork and insurance details.
6. 6Brief your broker and a leasehold savvy solicitor.

If something doesn't add up, you can walk away. It's your money, and there will be another flat.