In January 2023, there was new legislation introduced (Building Safety Act 2022) that impacts High-Rise flats.
Following conversations with our panel of suppliers, we have amended our quoting process for Sale & Purchase cases that involve Leasehold High-Rise Flats.
The new Legislation brought in means that the Conveyancer may have additional Legal work/paperwork to carry out in order to satisfy the new rules, which may incur additional time and, therefore additional costs.
How has the quoting system changed?
We currently ask the following questions:
· What Tenure is the property? Leasehold/Freehold
· If Leasehold is selected, another question asks to specify the property type being sold/purchased.
New question introduced:
If a flat is selected, we have added an additional question:
· “Is the flat in a high-rise building? (Building of 4 or more storeys)”
This allows the quotation to be accurate to the circumstances and will ensure the correct suppliers appear within the results screen.
What are the costs involved?
On a Leasehold case, there are specific Leasehold supplements that apply, to allow the supplier the correct fees to cover the additional work and time taken. These are:
For cases that fall under the new ‘High-Rise flat’ category, there may also be an additional supplement added to account for the extra work required. This depends on the supplier chosen and will be listed clearly on the quotation PDF if applicable.
Our system is now updated and ready to quote.
If you have any questions, please call our Sales Support team on 0333 456 4567.
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