2 minute read. Practical research method for use with public property records.
The registered price does not explain the lease
Price Paid Data can label a transaction as leasehold, but it does not provide the lease start date, unexpired term, ground-rent review, service charge, reserve fund, restrictions or planned major works. Two flats in one building can complete at different prices because their legal or financial obligations differ.
Before treating another flat as comparable, record the lease term at its completion date where available and note whether either transaction included a lease extension, share of freehold or unusual incentive.
Collect the management record
Request the current service-charge budget, recent accounts, reserve-fund balance, planned major works, insurance schedule, fire-risk information and relevant managing-agent correspondence. Separate recurring costs from exceptional works.
A low current service charge is not automatically positive if maintenance has been deferred. A high charge needs explanation rather than an automatic price adjustment.
- Lease and official title copies
- TA7 leasehold information form and management pack
- Current budget and at least three years of accounts
- Section 20 notices and known major-works programme
- Building insurance and relevant safety documentation
- Letting, pet, alteration and short-let restrictions
Keep professional conclusions assigned
A buyer can organise the evidence and identify missing documents, but interpretation of lease clauses, enforceability, lender acceptability and title defects belongs with the conveyancer and, where appropriate, a specialist valuer or surveyor.
Use the due-diligence register to mark evidence as provided or professional review required. Do not change ‘unknown’ to ‘clear’ because a document has merely been received.