After the Survey: Leasehold Flats, Fix or Reduce, and Timing to Exchange

Once the survey is back, three questions come up more than any others. If it's a flat, what else do I need to check? Should I ask the seller to fix things, or take money off? And how long have I got before exchange?

I'm Ben Murrell, a builder with nearly 30 years on site. I review RICS surveys for buyers. I don't quote for or do the work, and I take no commission. Where something is a legal question, I'll say so: that's your conveyancer's job.

Part 1: leasehold flat survey, next steps

A survey on a flat focuses on your flat, and the surveyor will also note what they can see of the shared parts. The roof, the main walls and the communal areas are usually the freeholder's responsibility, but you'll pay your share through the service charge. So a flat survey needs to be read alongside the paperwork.

What to do after a flat survey

1. Pick out anything about the building, not just your flat. Roof, external walls, windows, communal areas, fire doors. These usually aren't yours to fix directly, but may be yours to pay for.
2. Ask your conveyancer for the management pack from the managing agent. It should show service charges, the reserve fund and planned works.
3. Ask about major works. Under Section 20 the landlord must consult leaseholders on major works above a set threshold. Ask whether any consultation notices have been issued or are planned.
4. Check fire safety and cladding for blocks where it's relevant, including whether an EWS1 form exists and what it says.
5. Check the lease length. Shorter leases can be harder to mortgage and more expensive to extend. Your conveyancer will advise on the current rules.

Converted flats are different

In a flat converted from a period house, you often share the roof and main walls with one or two other owners, and repairs can be split between you. Survey findings on the roof, chimneys or external walls matter much more here. See Level 2 vs Level 3 on which survey suits a conversion.

Part 2: fix before exchange, or price reduction?

When the survey finds something real, you can ask the seller to fix it before exchange or to reduce the price so you fix it yourself.

A fix before exchange can work when:

• the job is small and easy to define, such as replacing a flashing, clearing and repairing gutters, or servicing a boiler;
• there's a clear way to check it's done, such as an invoice, photos or a certificate;
• the seller is short of cash but can pay a contractor.

A price reduction is usually safer when:

• the job is large, or the scope isn't clear until work starts;
• quality matters, because the seller's contractor works for the seller, not you;
• the repair would delay exchange.

Whichever you agree, ask your conveyancer how it's written into the contract. Typical costs for common findings are in survey red flags ranked by repair cost.

Part 3: survey to exchange, how long have you got?

There's no fixed timetable. Exchange happens when your conveyancer has finished the searches and enquiries, your mortgage offer is in place, and everyone in the chain is ready. That can be a few weeks after the survey or a couple of months.

What matters for you:

• Do further investigations straight away. Engineer's reports, drain surveys, electrical tests. Once you exchange, you're committed and your leverage is gone.
• Raise any renegotiation quickly. Delays make sellers nervous.
• Watch your mortgage offer expiry date. If the price changes, tell your broker or lender, as the offer may need updating.
• Use the waiting time. Searches often take a while. See how long searches take, and planning works while you wait.

In England, Wales and Northern Ireland you can withdraw or renegotiate at any point before exchange. In Scotland the Home Report comes before you offer and missives bind earlier, so take Scottish legal advice.

Related guides

• Seller refused to reduce the price? Your 5 options
• Should you send your survey to the seller?
• Should I pull out after a survey?