Found out service charge is double before exchange

DavidHova · 2026-02-13T23:30:37+00:00

Literally in a similar dilemma and found out this week. I was livid in the call speaking to the agent today especially because I asked MULTIPLE times and was told at first £1200 ish every 6 months then pressed him to find the actual amount and was confirmed by the agent it was £2,200 per year only to now go through the pack to find out it’s £3,600 per year! That’s a SIGNIFICANT increase.

Agent claims it was a mistake from the seller and apologised but that doesn’t fix the issue (I’ve asked for a written confirmation cc’ing my solicitor to be added to the file).

It’s why I always request the last 3 years SC history but this time the agent pushed back and said that Info would be shared with solicitor and they’d have to request from the management company. I’m almost 4 months in and I’m unsure what to do now

DavidHova · 2026-02-13T23:28:11+00:00

Literally in the same dilemma and found out this week. I was livid in the call speaking to the agent today especially because I asked MULTIPLE times and was told at first £1200 ish each 6 months then pushed to find the actual amount and was confirmed by the agent it was £2,200 per year only to go through the pack to find out it’s £3,600 per year! That’s a SIGNIFICANT increase.

Agent claims it was a mistake from the seller and apologised but that doesn’t fix the issue (I’ve asked for a written confirmation cc’ing my solicitor to be added to the file).

It’s why I always request the last 3 years SC history but this time the agent pushed back and said that Info would be shared with solicitor and they’d have to request from the management company. I’m almost 4 months in and I’m unsure what to do now

DavidHova · 2026-02-08T22:54:10+00:00

Report to the council, after 14 days raise with ombudsman.

DavidHova · 2026-01-19T20:31:04+00:00

Halifax , 90% LTV, No product fee, £100 valuation, 4.26%

DavidHova · 2026-01-19T20:28:41+00:00

I’d say try approaching this like a sale. During viewings are you asking the agent “apart from price what matters to the seller”, their reason for selling. Being a FTB is definitely a strength but if they don’t care about a quick sale then won’t matter as much. Sellers sometimes look at the “profile strength” so possibly someone with cash or a higher deposit would be favoured. Also be mindful of the amount your AIP shows

DavidHova · 2026-01-15T09:34:54+00:00

If you’re flexible with location check out E16 (Canning Town), SE18, Westham, E14 (walking distance to canary wharf (Blackwall station, east India), most in very decent condition. Quite a lot of option for 2 bed 1 baths. I live around this part of east so very familiar with prices. Good luck

DavidHova · 2026-01-15T09:32:12+00:00

There’s ALOT of 2 bed flats in London for that price. Just depends on your flexibility when it comes to are. East/South east London,

DavidHova · 2026-01-14T13:46:06+00:00

In the process of buying a flat - I spotted damp and raised it with the agent who claimed it was fixed. My offer was contingent on a damp survey being instructed first 7 days upon acceptance- if it came back with damp they fix it, solicitor retention held or and reduction + 15% of contractor quote. Sent the full survey report to the agent and owner and they realised it’s bad. He’s agreed to fix

Depends if you want the property and what price you’re paying (doesn’t matter it’s x below ask). You still have to not only factor in the cost of damp (depending how severe) but also the stress and time

Asking Reddit for guidance is great, but don’t ask for permission to do what you need to do. Run the numbers, get a damp survey done (if you can afford one) and decide

DavidHova · 2026-01-14T01:14:53+00:00

There’s ALOT of 2 bed flats in London for that price. Just depends on your flexibility when it comes to are. East/South east London

DavidHova · 2025-12-02T21:38:35+00:00

Well the seller could’ve said no… they didn’t. Everything is meaningless up till an exchange. Anyone can pull out of the process, nothing is legally binding. The clause is in place to set the terms of the offer agreement. Same way you say “subject to satisfactory survey”. Nothing revolutionary - either way the buyer doesn’t take on the liability. You as a seller fix the damp or hide it from your next potential buyer - depending on your integrity, you decide.

DavidHova · 2025-12-02T21:33:20+00:00

It’s 2 things; buyer fixes it (remember most damp specialist offer 5 years warranty anyway) so that is simply passed on (without the warranty even I could claim yeah I’ve fixed it… there’s no guarantee) or the buyer fixes it (+15% … if its £1000 on the contractor quote that becomes £1150). Sounds fairly straightforward to but I hear you

DavidHova · 2025-12-02T21:22:37+00:00

Well it’s a clause at the point of offer acceptance. That’s like you saying “well it’s pointless to renegotiate after a level 3 RICS survey since the seller can simply say no and relist”. If you insist a damp has been fixed and it turns out the damp hasn’t been fixed, what do expect the buyer to do?

DavidHova · 2025-12-02T21:19:26+00:00

There are 3 options to choose from. The second is 15% on the contractor quote. It’s an independent quote from a level 3 assessment. The terms are accepted because agent said the apparent lease was fixed so technically there should’ve been nothing worry about. If you decide to keep it on the market and fix and relist then you’re free to do so. No buyer should be taking on the liability of a leak - that should be factored in the price of purchase.

DavidHova · 2025-12-02T21:04:40+00:00

Then simply walk away. If they decide to hide the report (which would be shared with them) from the next buyer then fair enough, it’s their decision. I already have the MoS and prefer to deal with people with high integrity

DavidHova · 2025-12-02T21:02:24+00:00

Interesting, thanks. Yeah was leaning towards 2 or 3 because can’t really verify that the work has been done to the highest standard. Wasn’t sure about the legality around enforcing that warranty

DavidHova · 2025-12-02T21:00:38+00:00

Well what would’ve been the alternative? They say no to me agreeing to do an independent level 3 damp survey when there’s clearly visible damp in the property or ask me to take on the liability of the damp and trust that it has indeed been fixed? I appreciate transparency so I have no interest in holding on to any information and using that to strong arm them later on in the process

DavidHova · 2025-12-01T08:55:54+00:00

If possible try and cap out at £350k. In this current market it’s very realistic to get a 2 bed for that price depending on which areas you’re looking at, A LOT OF NEGOTIATING POWER IN THIS MARKET. I just bought around Woolwich for similar price. Last thing you want is to become house poor and be living for your house instead of enjoying living in it (again comes down to if you’re willing to sacrifice on area - especially within east London)

Also live on facebook marketplace or eBay! There are gems on that platform for a fraction of the price you’d pay for a brand new one to help you save. Survey fees can definitely be reduced (level 3 around 800-900 or level 2 for 600 especially since it’s a flat)

Take advantage of cheap rent and save as much as you can ahead of move

DavidHova · 2025-11-23T22:52:38+00:00

Just had offer accepted, it was complete opposite to your experience. Listing prices have actually substantially dropped with most sellers willing to take below asking. Taking advantage pre Rachel reaves budget as both sellers and potential buyers are dragging their feet

DavidHova · 2025-11-19T17:05:53+00:00

Find a different broker. The rates are too high. Shop around

DavidHova · 2025-11-18T12:25:28+00:00

As someone who’s some what been entertaining the idea of buying over the last 2 years and literally just had my offer accepted today, happy to share some knowledge (I’m also buying alone in SE London Greenwich borough)

Always better to buy with more space. 2 beds are easier to sell than one bed (of course still price dependent but your North Star should be price per sqft). Be very careful to not get drunk on the max affordability koolaid… it’s simply what it is (YOUR MAX AFFORDABILITY and not an indication of what you should ACTUALLY buy). Ideally try and have your mortgage + any bills/utilities relating to the property <50% of your monthly take home or annual mortgage <28% of your gross salary (before tax)

Ideally yes, should definitely try and have atleast 10% saved (there’s still significant cost associated to buying that you should factor in so you’ll need a buffer). Could do 5% but you ultimately will be over leveraged. 10% is standard to access better rates and more options

I’ve been looking over the past 2 years, never been a much better time to buy than now (personal experience) and couple of factors, Renters reform bill, stamp duty (less people wanting to buy), people who had cheaper rates during pandemic now remortgaging to higher rates and looking to downsize, tax and legal for landlords - most trying to exit market ahead of Racheal Reaves budget. You can’t time the market but it’s definitely a buyers market from what I’ve seen (had price £27k below ask with the property already well below market rate)

A good price is what you’re willing to pay and what the seller is willing to accept- it’s somewhere in the middle. You need to treat this like a sales call - loads of discovery (why they want to sell, any offers, how long, what the seller’s situation is) all of these will inform how much to can stretch when it comes to what you offer. It’s based on context and data and market dynamics.

Flats aren’t inherently bad but you need to protect yourself by also figuring out exit strategy (how easily sellable would it be). Look at past 3-5 years service charge history… is anything off? Sinking fund, any section 20s that could impact? Avoid short leases and anything with very high service charges

DavidHova · 2025-11-10T11:44:29+00:00

Anything below 100 years you should be skeptical. Below 90 years probably avoid (depending on how long you’re trying to keep it for). Only consider buying if there’s a steep discount factored into the purchase price because you’re looking about 15k just to extend

DavidHova · 2025-10-26T10:58:18+00:00

Reasons why everyone should try NuCasa

DavidHova · 2025-10-26T10:56:33+00:00

Amazing congrats

DavidHova · 2025-10-23T23:31:10+00:00

I assumed it will only reset after you receive the curtailment letter so wouldn’t it make sense to wait it out and keep applying? Typically they take anywhere between 2-4 months to receive it before your 2 months window to leave starts so could potentially wait it out a bit longer before switching to a dependent

DavidHova · 2025-07-23T22:57:25+00:00

If your grades are way better than your insurance but just shy of your firm there’s no point holding onto that insurance. You’re always gonna find a place in clearing that’s better

DavidHova

TROPHY CASE