Leasehold · 2 min read
Selling a leasehold flat privately: what buyers will ask
Lease length, service charges, ground rent, the management pack and building safety: what to prepare before you sell a leasehold flat yourself.
Leasehold sales need more paperwork, and buyers and their lenders scrutinise it closely. Preparing it before you list can save weeks.
Know your lease length
Buyers’ lenders care about how many years are left. Many become cautious as the lease gets shorter, and you’ll often hear 80 years mentioned as a threshold, because extending below that can cost more. Check the exact term on your lease or title. Leasehold law is being reformed under the Leasehold and Freehold Reform Act 2024, with changes being brought in over time, so ask your solicitor about the current position on extensions before you list.
Service charge, ground rent and reserves
Have the figures ready, and say them in your advert:
- the annual service charge and what it covers
- the annual ground rent and any review terms
- whether there is a reserve or sinking fund
- any major works planned or already billed
On OpenSell, leasehold listings must include the years remaining and the annual service charge, and you can add ground rent.
The management pack
The buyer’s solicitor will ask for a leasehold information pack from your managing agent or freeholder, often on the LPE1 form. It covers charges, insurance, disputes and planned works. Managing agents charge for this, and it can take time, so order it as soon as you agree a sale, or earlier.
You’ll also complete the TA7 Leasehold Information Form with your conveyancer.
Building safety
For taller blocks, buyers’ lenders may ask about external walls, cladding and fire safety, and about any leaseholder protections. Ask your managing agent what building safety documents exist for your building, and give them to your solicitor early.
Share of freehold
If you own a share of the freehold, explain how it works: who manages the building and how costs are shared. Buyers generally see it as a plus.
Scotland is different
Leasehold is mainly an England, Wales and Northern Ireland issue. Flats in Scotland are usually owned outright, with shared costs managed by a factor. Buyers will still ask about factor fees and common repairs.
Sources
- GOV.UK: Leasehold property
- legislation.gov.uk: Leasehold and Freehold Reform Act 2024
- GOV.UK: Preparing to sell
Last reviewed . This guide is general information, not legal or financial advice. Rules differ across England, Wales, Scotland and Northern Ireland and can change; check with a solicitor or conveyancer about your own sale.