Buying apartments and condominiums in London

Start with a usable shortlist

Decide whether this is a primary home, occasional London base or property intended for letting. Set a price ceiling for the complete purchase, not merely the asking price, and a separate annual ceiling for building charges. Record non-negotiables: actual usable floor area, daylight and noise, step-free access, transport, working space, security, pets, parking, storage and whether a concierge, lift or gym would actually be used. A view is an amenity, not a substitute for inspection of the building or title.

Compare at least two properties on the same basis: internal area measured consistently, condition, transport, lease term, service-charge inclusions and planned expenditure. Request building age, management contact and tenure before committing to surveys. Treat brochures and asking prices as claims to check, not proof of value or available inventory. This guide covers London in England; Scottish flat-ownership rules should not be imported.

Identify what ownership really means

Most flats in England are sold on a long leasehold interest. You buy time-limited rights defined by a lease, not automatically the freehold of the building or the space beyond your legal boundaries. A “share of freehold” generally means holding an interest in the freeholder alongside a lease of the flat; it does not abolish the lease or its covenants. Commonhold is a different, currently uncommon arrangement: the buyer owns a freehold unit and participates in an association responsible for common areas. Ask the conveyancer to identify the actual model from the title register, lease and constitutive documents, not an agent’s use of “condo”.

Before comparing prices, obtain the registered title and title plan, full lease and variations, the freeholder and management-company identities, and any share or membership documents. Check the remaining term, mortgages or restrictions recorded against title, permissions and lender acceptability. A marketing reference to “999 years”, “freehold” or “residents control” cannot replace these records. For a short or declining remaining lease term, obtain the lender’s position and a costed lease-extension assessment before comparing it with a long lease. Check the current ground rent and any review/escalation clause, not just the first payment.

Separate the flat from shared and accessory rights

Ask a solicitor to compare the physical layout with the demise shown by the lease and its plan. Balconies, terraces, roof space, corridors, plant rooms and external walls may be excluded from the private premises or subject to special repair rules. Parking may be owned, demised, allocated by licence or merely rented; storage can have a different arrangement. Confirm the exact bay or locker, transferability, additional payments and whether an EV charger needs consent. Do not assume that the use of a courtyard or gym gives ownership of it.

Check rights of access and escape, lifts and loading, permitted alterations, flooring restrictions, pets, home working, subletting and short stays. Obtain the original covenants and written consent where needed. Intended use may additionally require planning, mortgage and insurance checks. If letting is central to the budget, do not rely on projected rent until the lease and the relevant regulatory requirements allow that plan.

Read the building accounts, not just the annual charge

Request current service-charge budget, actual accounts for at least the preceding two years where available, arrears, reserve or sinking-fund balance, insurance cover and claims, the managing agent’s agreement and recent residents’ or management minutes. Identify the billed proportion for this flat, the mechanism for increasing estimates, disputes, planned capital works and whether deficits can be demanded after completion. A low current charge can coexist with inadequate reserves; a high one might cover expensive staffing and amenities. Compare the same inclusions and distinguish utilities charged to the flat from building-wide costs.

Ask specifically about roof, façade, cladding, lifts, windows, heating plant, water systems and major-works consultations or notices. Request written estimates and funding decisions, not just assurances that no invoice is due today. Ask the conveyancer how any seller arrears, retentions and service-charge apportionments will be treated at completion. A reserve fund is not a guarantee that all future works are funded. Treat any Section 20 major-works consultation or related notice as evidence of a possible future contribution; verify the scope, estimated share and whether consultation or final costs remain disputed.

Test physical condition and building safety separately

Commission an appropriately scoped survey for the particular flat and, where necessary, expert inspection of the block. Review damp, overheating, acoustics, ventilation, energy performance, structure, leaks and defects in shared services. A new interior finish does not establish that fire doors, external walls, lifts or common electrical systems are sound. For newly completed units seek completion/building-control evidence, warranties, snagging arrangements and developer obligations; check what any warranty excludes.

For multi-occupied buildings, ask about fire-risk assessment, external-wall assessments where relevant, remediation plans, funding and insurability. The Building Safety Act 2022 introduced specific protections for qualifying historical defects in certain relevant buildings, generally at least 11 metres or five storeys; protection depends on detailed conditions and does not mean every defect is paid for by government or the seller. Older qualifying status may transfer to a buyer, but relevant certificates and landlord evidence must be checked. Other higher-risk building rules can involve different height tests. Do not confuse the thresholds or assume an EWS1 form is always mandatory.

Compare alternatives on real trade-offs

A period-conversion flat may offer character and a smaller building but can involve complex repair allocations, sound transfer and less predictable fabric work. A serviced modern block may offer accessible lifts and staffed security but higher recurring expenditure and substantial dependence on its operator. A small share-of-freehold building may give residents greater influence while leaving them responsible for decisions, administration and disputes. Commonhold removes a wasting lease term but does not remove collective bills. A higher floor may have views yet introduce lift reliance and more difficult access during outages.

Use the comparison below to challenge attractive headlines. The correct option is the one whose obligations you understand and can fund under an unfavourable scenario, not the one with the most facilities. Where documents are missing, classify the option as unverified rather than cheaper or safer.

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Budget acquisition tax and total ownership cost

For residential purchases in England, Stamp Duty Land Tax (SDLT) is generally calculated in bands. Under the rates in force from 1 April 2025, ordinary rates are 0% to £125,000, 2% on £125,000–£250,000, 5% on £250,000–£925,000, 10% on £925,000–£1.5 million and 12% above £1.5 million. An additional-dwelling purchase can attract rates 5 percentage points higher; certain non-UK-resident transactions add a further 2 percentage points. Qualification, replacement-of-main-residence exceptions and refunds require individual analysis. First-time-buyer relief has its own conditions and property-value ceiling. Corporate acquisitions can trigger different regimes, including a 17% higher-threshold charge in specified cases; do not apply the individual example to a company. First-time buyer relief generally requires all joint buyers to qualify, intended occupation as the main residence and a price no higher than £500,000: the qualifying rates are 0% on the first £300,000 and 5% on the balance up to £500,000. Above the ceiling, this relief is unavailable.

Illustration: a £1,000,000 qualifying ordinary residential purchase under the above bands gives £43,750 SDLT. If the additional-property surcharge applies, the comparable figure is £93,750; with only the non-resident surcharge, £63,750; with both, £113,750. These are arithmetic illustrations, not personalised tax determinations. Add conveyancing, searches, valuation, survey, lender costs, Land Registry fees, insurance, moving expenses, initial works and a cash reserve. Compare ongoing ground rent where lawful, service charges, council tax, energy and repairs over several years, not the first month.

Follow a controlled purchase sequence

First verify title, tenure, intended use and total budget. Then make an offer expressly subject to contract, suitable enquiries, survey and any required mortgage. Instruct an England-and-Wales conveyancer familiar with complex leasehold buildings, and a surveyor. Your solicitor should obtain the contract pack, title/lease and plans, management information, replies to enquiries and searches, then address defects and lender conditions. For an off-plan purchase, scrutinise specifications, delivery conditions, long-stop dates, deposit protection, defect remedies and variations rather than relying on a showroom.

Exchange of contracts is the binding point in the usual English transaction: do not exchange with unresolved title, safety, funding or material service-charge questions. Completion normally follows when funds and signed documents are transferred and keys released. Conveyancers arrange the applicable SDLT return/payment and registration; SDLT return and payment are generally due within 14 days of the effective date. Separately verify bank details by a trusted channel before transferring funds because conveyancing payment fraud occurs.

For international buyers: separate ownership, money and residence

Being a foreign purchaser does not, by itself, turn a leasehold flat into a freehold or give permission to reside in the UK. Immigration permission, mortgage eligibility, source-of-funds checks, tax residence and title acquisition are separate questions. Buyers should prepare identity and beneficial-ownership information plus a documented trail for deposit and purchase funds. If buying through an overseas legal entity rather than personally, check the Register of Overseas Entities obligations with a specialist and assess the separate SDLT and ongoing-tax consequences.

When funds start in a currency other than GBP, record the quoted exchange-rate reference, dealing spread, conversion date, intermediary and receiving-bank charges, transfer limits and the amount that must arrive in cleared sterling by each contract deadline. Request an itemised lender and professional-fee estimate; never treat an indicative currency conversion as a guaranteed net receipt. Remote signing may be feasible in some cases, but identity verification, lender requirements, witnessing and completion mechanics must each be confirmed by the conveyancer; remote viewing, contracting and registration are not the same step.

Decide: proceed, renegotiate or stop

Proceed to deeper verification when the location and layout work, the ownership structure is explained in documents, lending is viable and the building’s costs and condition are evidenced. Renegotiate price, retention or contract protection where a quantified repair, unapproved alteration, pending works bill or poorly funded reserve changes value. Pause or reject the property if title to essential space is missing, an intended use is prohibited, safety remediation and liability cannot be established, or a lender or insurer will not accept the building.

Before authorising exchange, request a single written decision pack: title and lease plan, remaining term, ancillary-rights evidence, restrictions and consents, management accounts, future works and insurance, building-safety material, survey findings, all-in acquisition budget and the conveyancer’s open-issues list. Assign each material uncertainty an owner and deadline. The final answer is specific to the actual apartment, not a general London-market promise.