You know which flats in the block cannot sell.
Nobody sees a building's problems more clearly than the people who run it. You hold the lease register, so you know which flats have dipped under 80 years. You are dealing with the EWS1 question and the remediation programme across the whole building, not one flat at a time. And you field the calls from leaseholders who have just been told their flat is unmortgageable. We buy those flats, with the lease and the building's position exactly as they stand.
The flats we buy
- Short leases. Anything under about 80 years, and we have bought far shorter. We take the lease as it is and handle the extension after completion.
- Cladding and EWS1. No form, a B2, remediation planned but unfunded, or scaffolding up with no end date. We buy at any point in that process.
- Flats with a history. Arrears, a difficult previous owner, a long void, damage from a leak or a fire.
- Estate and absentee sales. The flat whose owner has died, moved abroad, or simply stopped responding, where the executor or family wants a clean exit.
We are a principal buyer with our own funds: no lender, no valuation, no chain. A written offer within 24 hours of speaking to the seller, completion in about a week once your leasehold pack is with the solicitors.
What the block gets
A stuck flat is a problem for the building, not just its owner. It sits empty or under-maintained, its arrears grow, and it drags on the block's reputation with lenders. When we buy one, the flat comes back into circulation: arrears settled at completion, service charges paid on time from then on, the lease extended through the proper route, and one named person for your office to deal with. We would rather be the leaseholder you never have to think about.
We deal with your office through one named person, pay on time, and do not litigate for sport. We own to hold or to improve and resell; either way we need the block well run.
What we need from you
- The flat and the block, and the lease length remaining.
- The building's position on cladding: EWS1 if one exists, the fire risk appraisal, the current remediation letter.
- The service charge picture: the budget, and any arrears or unusual charges.
- Whether the leaseholder has agreed to be contacted. If not yet, we speak only to you.
Questions managing agents ask
- Will you extend the lease after you buy?
- Usually, yes, and through the proper statutory or negotiated route with the freeholder. We buy the lease as it stands and take the extension on ourselves after completion, which means the flat comes back to the block as a long-lease, mortgageable unit rather than sitting unsold with a wasting lease.
- Do you buy in a block with no EWS1?
- Yes. We buy flats where no EWS1 exists, where the rating is B2, and where remediation is planned, unfunded, or under way. We will ask you for the fire risk appraisal and the current position on remediation, because that is what shapes the price, but the absence of a form does not stop the sale.
- Will you be a difficult leaseholder?
- No. We pay service charges on time, we do not litigate for sport, and we deal with your office through one named person. We own to hold or to improve and resell; either way we need the block well run, so our interests and yours line up.
- Can you buy where there are service charge arrears or a waking watch?
- Yes. Arrears are settled at completion from the sale price, and ongoing costs such as a waking watch or a multiplied insurance premium are part of how we price the flat rather than a reason not to buy it. Tell us the figures and we will show you how they land.
- Is there a fee for referring?
- There can be, where your firm's rules allow it: fixed, agreed in writing before completion, paid only on completion, and disclosed to the leaseholder. Where you would rather not, the referral works the same way with no fee. There is never a fee to the seller.
RPJ Property Group Ltd, Companies House 14164927. Call 020 7088 8300 to speak to Reuben before you refer.