Leasehold Questions

[jack99]

I am about to buy a leasehold flat, it is purpose built in a block of four, having never had a leasehold property before, could anyone help me with the following questions: 1: The property has a 75 year lease left on it, is this long enough? 2: I noticed today that it doesn't have its own tv aerial, would I need permission (and if so, who from) to put up an aerial/satelite dish on the gable end of the flat above mine?
3: Do I need building and contents insurance, or only contents?
Any help with any of the above would be much appreciated.

[cassa333]

1. Just about. Your morgage lender will be the best one to ask. If it has below 60 they don't tend to want to know. You can buy an extention from the lease holder though.

2. TV points are probably communial. Is there a point in the flat? You will have to get permission to affix anything from the outside of the building. Investigast this before.

3. Contents only. Buildings insurance will be paid for by of the maintenance fee you will be charged each year. Find out the previous 5 yrs fees.

[redcrx]

are you getting the property mortgaged? your lender will soon say if the lease isnt long enough. I think that they are usually fine if more than 50 years but you may have to increase when you want to sell.
you need to read the lease to find out if you can put an aerial up, some may say no, though unlikely. Is there not a communal aerial for the building, ask the vendor.
Building insurance is usually paid for by the management company or the freeholder but you will need to budget for your share and find out when its normally paid. Contents you will need to have.

Also check if you are required to pay to managment company for upkeep of communal areas and also when ground rent is due and at what cost