Buying and selling leasehold flats
There are a number of differences when you buy a flat that you need to understand before submitting your application to buy. If you are considering buying your council-owned flat, please ensure that your solicitor explains the details of the lease clearly. Please note there are certain qualifying criteria for the Right to Buy scheme.
Buying your council flat
When you buy a Brent Council owned flat you become a “leaseholder” and you are actually buying a lease from the council which gives you the right to live in and use of the property for an agreed period of time, usually 125 years. The council continues to own the block including the exterior structure of the flat.
As a leaseholder, Brent Council owns the freehold and as landlord, is obliged to provide you with specific services and you will be charged for those services.
- Service charges to cover the costs incurred for the day to day repair, maintenance and management of the block and for your share of the cost of any major works to your block.
- Ground rent on an annual basis.
- Buildings insurance.
- Management and administration costs.