Leasehold, service charges, and sinking funds — the questions most buyers forget to ask.
Most properties for sale in Hove's most desirable postcodes are conversions: Victorian terraces and Edwardian semis divided into flats, usually two to four to a building. They look appealing — period ceilings, bay windows, access to some of the best streets in the south-east — but they come with a layer of legal and financial complexity that freehold houses don't have.
Here's what to check before you fall in love with one.
Every leasehold flat comes with a lease — a time-limited right to occupy the property. When the lease expires, ownership reverts to the freeholder. This matters at three key thresholds:
A new-ish Hove conversion might still have 950 years left on the original 999-year lease. A 1970s conversion that started with 99 years might now have fewer than 30. Always check the lease term remaining before you arrange a viewing, let alone a survey.
Service charges pay for the maintenance, insurance, and management of the shared building. In Hove conversions, a typical service charge might be £1,200–£2,500 per year for a mid-range building, though larger or higher-spec managed blocks can be considerably more.
What to ask for:
A well-run building maintains a sinking fund — money set aside over time for major repairs, so owners aren't hit with large unexpected bills. Ask how much is in it and whether the managing agent considers it adequate for the building's age and condition.
If the sinking fund is empty or very small for an older building, factor in that you may be asked to contribute to a special levy within a few years of buying. This is not unusual in conversions where the previous owners weren't contributing regularly.
Some Hove conversions are self-managed by the leaseholders (through a residents' management company). Others are managed by a professional managing agent. Neither arrangement is inherently better:
If you can speak to current residents before buying, do. They'll have an honest view of how well the building is run that won't appear in the management accounts.
The best leasehold purchases in Hove often come with a share of freehold — meaning the flat owners collectively own the freehold of the building through a company. This gives you control over how the building is managed and at what cost, makes lease extension straightforward (usually very cheap when you also own the freehold), and generally improves both security and resale value.
If a flat doesn't have share of freehold, check whether the leaseholders have the Right to Manage (RTM) or have considered purchasing the freehold collectively under the Leasehold Reform Act. Both are possible for most residential buildings if a majority of leaseholders agree.
For most leasehold flats, building insurance is arranged by the freeholder or managing agent and charged through the service charge. You're responsible for your own contents insurance. Make sure the building insurance is in place, covers the property at full rebuild value, and that it hasn't lapsed. Your solicitor will check this, but it's worth asking early.
Several streets in Hove — particularly in Brunswick Town and parts of Cliftonville — fall within conservation areas or include listed buildings. This affects what changes you can make to the exterior and sometimes the interior, and can complicate later renovation plans or the process of getting planning permission for alterations. Check whether the property is listed or in a conservation area before buying, especially if you're planning work.
Not all flats in Hove are period conversions. Some are purpose-built blocks — typically from the 1960s onwards. These often have longer leases at the outset and more straightforward management structures, but they come with their own considerations: concrete or prefabricated construction from the 1970s can have higher maintenance costs, and some blocks carry restrictions (on pets, short-term lets, or alterations) that affect how you can use the property.
A good conveyancing solicitor will request the lease, management information pack, service charge accounts, and building insurance details as standard. What they're less equipped to judge is the softer stuff: whether the managing agent is responsive, whether the sinking fund feels adequate for this particular building, or whether planned works are likely to snowball. Those are judgement calls that benefit from local knowledge and a good surveyor.
If you want a rough sense of what a property type like this is typically worth in a given Hove postcode, our free valuation tool can give you a market range as a starting point.
Get new Hove property guides in your inbox
Occasional updates on the market, new neighbourhood guides, and anything worth knowing. No spam.