no maintenance charge on a flat?

[mollymoo]

Hi I am thinking of buying a flat but it has no maintenance charges....does this mean that if anything goes wrong we all ahev to suddenly find the money to fix it...is this a bad thing to do buy a property like this...it is classed as a mainsonette...are all mainsonettes done liek this or does it simply mean each flat has its own enterance...thanks

[buildersmate]

If you are buying a flat, this maintrenance charge you refer to would normally be when it is the ground rent on a leasehold flat. It isn't maintenance as such. Perhaps its a freeehold flat?

[mollymoo]

nope it has gorund rent of only 1 pound a month and no maintenance charges...which i found odd and had never heard of so i was trying to work out how everything gets repaired if this is in fact a more common occurance....

[themas]

I take it the flat is in a converted house or a purpose built block. Even if it is a freehold it is probably a shared freehold with the other flat owners. There certainly should be something in the lease or other documents relating to sharing of the freehold which covers the maintenance of the structure and common parts. There is also the question of who is responsible for seeing that the whole building is insured.

I would be very wary of going ahead without an assurance that these issues are clear and that there is a system in place to ensure all the owners contribute when necessary. Your solicitor should advise you on this.

[Miss-taken]

I've recently bought a flat and its leasehold with no maintenance charges. I pay ground rent and buildings insurance once a year but nothing else. If some needs doing we just split the cost of it between the 3 properties.
I think this is so much better than paying maintenance - what if nothing needs doing - you're paying money for absolutely nothing! Also you may be contributing to a sinking fund - something you may never get the benefit from!
At least if you split the cost between you, you know exactly what you're paying for and will probably save yourself a fortune - this kind of thing will be included within your lease. The previous owners of my house had lived here for 3 years and never paid any maintenance so I'm crossing my fingers!