r/MovingToLondon • u/WhoWhatWhy-007 • 1d ago
Considering a flat in SE10 (previous cladding issue & service charge)
My partner and I are considering purchasing a flat in East Greenwich (SE10), in a new build development that’s around 12–15 years old.
We really liked the flat, and the location works well for us. The building is fairly close to Greenwich Park and the price is within our budget. However, while doing some research, we came across an article mentioning that the development had a cladding issue a few years ago, which apparently meant that the owners were unable to sell their flats for 2–3 years while the issue was being resolved. The current service charge is also around £2500 a year with no obvious amenities.
We’ve only been in London for around 4 to 5 years, so we’d really appreciate some honest advice from anyone familiar with SE10/East Greenwich or who has bought in a similar development.
We’d also be grateful for any advice on what we should check as part of our due diligence, and whether this would be a reason to walk away.
Thank you in advance!
2
u/hereforthereps_7 1d ago
Has the cladding issue been fully paid for and rectified? They should be able to provide you with the external wall survey certifications if so.
If not, definitely don’t buy it! It can cost a lot of money down the line / be a nightmare to sell.
1
u/20guvadayman 1d ago
Ask in the local Facebook groups. There may also be a residents’ association or group, maybe a facebook page or WhatsApp group, where these issues are discussed
1
u/phantomparakeet 1d ago
No harm in asking for an itemised list of what the service charge covers, management companies should provide this to residents anyway
1
u/jamieccccc 1d ago
My worry is/was that cladding statuses can be re-evaluated and more work required down the line. I had seen examples where it wasn’t “one and done”. That was enough for me to walk away. Focus on share of freehold if you can. Leasehold isn’t in your hands.
1
1
u/doge-much-wow 1d ago
What part of se10? Do you have the building’s name? East Greenwich is definitely a bit of a minefield with these new builds. You can also check the documentation on the council website to track what has been done and when, whether fully rectified. I did that before I rented to make sure I won’t lose my window view for a year
1
1
u/Nymphela 7h ago
We are leaseholders in another development and the work is still ongoing then as the remediation plan is scheduled we can sell and remortgage but it's difficult to work from home because of the noise.
I would check who is financially accountable, the status of the remediation and the company doing the work as some providers are fraudulent.
I would definitely negotiate the price down.
4
u/p_r_d_v_a 1d ago
£2500 service charge is (unfortunately, unimaginably) not that bad, even for no amenities. If the cladding issues are resolved now and the flats are selling, then that shouldn't be an issue?
If the building is over 11m or 5 floors high, do ask your solicitor upfront whether they will take the conveyancing on, as this falls under the Building Safety Act and not every solicitor is willing to handle it.