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Before you offer on a leasehold flat, check five things: the years left on the lease, the service charge and reserve fund, who manages the building and how well, what the lease forbids, and, in a taller block, the building safety position. In Bournemouth, where much of the stock near the sea and the town centre is flats, these decide both the price you should pay and whether your lender will lend at all.
This guide is general information and not legal, tax or financial advice. Your solicitor will read the lease and your mortgage broker will confirm what your lender accepts.
Lease length and the 80-year line
A lease is a right to occupy for a fixed number of years. Ask the agent for the start date and the original term, and work out what is left. Three thresholds matter:
- Your lender's minimum. Many lenders want a set number of years left when the mortgage ends. A short lease can shrink your choice of lenders.
- 80 years. Under the rules in force at the time of writing, a statutory extension of a lease below 80 years includes marriage value, which makes it more expensive.
- Your own resale. The lease will be shorter when you sell, and your buyer will run the same check.
Since 31 January 2025 you can claim a statutory extension straight after you buy, without the old two-year wait. Better still, ask whether the seller will serve the extension notice before the sale and assign it to you. The Leasehold and Freehold Reform Act 2024 also provides for 990-year extensions and the end of marriage value, but at the time of writing those parts are not in force. Do not price your offer on the assumption that they will arrive by a certain date.
Service charges, the reserve fund and major works
Ask the agent for the current yearly service charge, what it covers and the ground rent, before you view a second time. Then ask:
- Is there a reserve fund, and how much is in it? A well-funded reserve spreads big costs over years.
- Are major works planned? Roofs, windows, lifts and external redecoration are the large bills in older blocks. At the time of writing a landlord must consult leaseholders before works that would cost any one of them more than £250.
- Has the charge risen sharply? Ask for the last three years' accounts.
Your solicitor will get the full picture from the management pack, usually the Law Society's LPE1 form, but you can save time and money by asking these questions before you pay for searches and a survey.
Ground rent
Check the ground rent and how it rises. A rent that doubles at intervals can worry lenders. A draft Commonhold and Leasehold Reform Bill published in January 2026 proposes capping ground rents on existing leases, but at the time of writing it is not law.
Who manages the building
The answer shapes daily life in the flat. A professional managing agent usually means published accounts and a set process. A residents' management company or a share of freehold may mean a neighbour runs the accounts in their spare time. Neither is better in itself. Ask how repairs are reported, how quickly they are dealt with, and whether there are disputes or legal claims in progress.
Restrictions in the lease
Read the restrictions as early as you can, because any one of them can rule a flat out.
| Restriction | Why it matters |
|---|---|
| Subletting | Some leases ban letting or require consent. Essential if you might let it later |
| Holiday and short lets | Often prohibited outright, which rules out a holiday let plan |
| Pets | Frequently need written consent, sometimes banned |
| Alterations | Removing walls or changing flooring may need consent |
| Parking | A space may be allocated, leased separately or not included at all |
| Business use | Usually prohibited, which can matter for working from home with visitors |
Cladding and building safety in taller blocks
If the building is over 11 metres high or has at least five storeys, ask about the external walls, the fire risk assessment and any remediation. The Building Safety Act 2022 protects qualifying leaseholders from the cost of removing dangerous cladding and caps their share of other historical safety repairs. A lease qualifies if it is over 21 years, was granted before 14 February 2022, and the leaseholder pays a service charge. The seller should complete a leaseholder deed of certificate when they sell, and the landlord's certificate shows whether costs can be passed on. Your solicitor will check both. Some lenders ask for further evidence on the external walls before they lend.
Share of freehold and the mansion blocks
Many converted villas in Bournemouth are held as a share of freehold: the flat owners jointly own the building. That usually means more control and cheaper extensions, but also shared responsibility for insurance, accounts and repairs. The larger mansion blocks and purpose-built blocks on the cliffs tend to have managing agents, lifts and larger service charges. Ask for the company accounts or the managing agent's budget either way.
Questions to ask before you offer
Put these to the selling agent before you pay for searches or a survey. A seller who has prepared will have most of the answers ready.
- How many years are left on the lease, and has anyone served an extension notice?
- What is the yearly service charge, what does it cover, and how has it changed over three years?
- How much is in the reserve fund, and are any major works planned or under consultation?
- What is the ground rent, and how and when does it rise?
- Who manages the building, and are there any disputes or claims in progress?
- Does the lease allow letting, holiday lets and pets, and is a parking space included?
- How tall is the building, and is there any building safety work or a fire risk assessment action plan?
Next steps
Read conveyancing explained for the order of the legal work and stamp duty explained for the tax. If you have a flat to sell first, selling a leasehold flat covers the same questions from the seller's side, and our buyers' hub gathers every buying guide.
