Estate agents don’t tell you about the service charge history, the reserve fund deficit, or the £40,000 major works bill coming next year. We do.
These are the risks nobody tells you about until after you’ve bought.
The service charge stated by the estate agent is often last year's figure. New contracts, rising insurance, and management fee increases can push it 30-50% higher within a year of purchase.
A roof replacement, lift refurbishment, or cladding remediation could arrive as a bill within months of purchase. If the reserve fund is depleted, you pay in full.
A healthy reserve fund should hold 3-5 years of planned maintenance costs. Many buildings have near-empty funds — meaning any major works falls entirely on current leaseholders.
Ground rent review clauses, short unexpired terms, onerous consent requirements, and restrictive use clauses can all affect your ability to sell, mortgage, or use the property.
Everything your solicitor doesn’t check.
3 years of accounts reviewed. Trend analysis. Year-on-year increases identified.
Current balance vs planned maintenance. Deficit risk assessment.
Any planned or likely works identified. Section 20 consultation history checked.
Premium benchmarked against market. Commission disclosure status checked.
Fee compared with the management scope, building circumstances and available evidence. Multi-layered fees flagged for enquiry.
Unexpired term. Ground rent provisions. Onerous clauses flagged.
Known issues with the agent. Tribunal history where available.
Low / Medium / High rating with clear summary for your solicitor.
Fixed fee of £199. We confirm within 2 hours.
Property address, solicitor pack, or any documents you have.
We request accounts, check the lease, benchmark costs.
Full PDF report in 5–7 working days. Share with your solicitor.
Review the available leasehold documents before exchange so that material service charge issues and information gaps can be raised with your conveyancer in time.