If you are thinking about buying or selling a property which we manage, we strongly recommend that you get a sell-on pack (this is also known as an assignment pack or pre-assignment enquiries). The pack contains all of the information that potential purchasers usually want to know about the property including:
- The average service charge.
- Any outstanding service charges.
- The building insurance premium and what it covers (leasehold properties only).
- Details of any planned major works to the building/estate. Major works charges can vary from one contract to another (depending on the type of work undertaken and type of building) and in some cases can be for a substantial amount that may run to several thousands of pounds.
- Details of any major works to the building/estate that have been carried out but not invoiced yet. The owner of the property will be liable to pay the invoice, even if the work was carried out before they bought the property.
- A copy of the lease (leasehold properties only).
There is an administration fee of £185 for this pack if you are a leaseholder or £79 if you are a freeholder on an estate.
Normally the seller’s solicitor will ask for the pack and they will send it to the solicitors of any potential purchasers. We cannot provide the pack directly to a potential purchaser or their legal representative.
We recommend that requests for packs are sent as early as possible. Once we have received a request for a pack together with the fee, we will email the pack within 10 working days.
We would also advise you to read the apportionments and retentions factsheet.
In addition to any planned works, you should be aware that you, as the owner, will be liable for a share of the cost of future works to the building.
Re-mortgaging a leasehold property
If you are re-mortgaging your leasehold property, the lender will normally want confirmation that the service charges are paid up-to-date and they will also want some information about the building insurance. Home Ownership Services provide this information in a “Re-mortgage Pack”. There is an administration fee of £127 for this pack.
Requests for sell-on or re-mortgage packs
Please send your requests to Home Ownership Services, 222 Upper Street, London, N1 1XR. Cheques must be made payable to “London Borough of Islington”.
Notice of assignment charge
You can get more information about buying an ex-local authority home on GOV.UK .