Buying & Selling

Selling a house on the Waterthorpe Farm Estate

Owners of property on the estate should be conversant with the management of the company. If proof is required that the maintenance levy is up to date, it should be requested in good time. Outstanding debt may delay a sale.

Buying a house on Waterthorpe Farm Estate

If you are buying a property on this estate, you should bring to the attention of your conveyancing  team the existence of Waterthorpe Ltd. It is something that is often  overlooked. You should take steps to ensure the maintenance levy is up to date before completing purchase. The maintenance levy follows the property and not the owner. If you purchase a  property with outstanding debt , you may find yourself liable for that debt.

At the point of construction, all properties on the estate were leasehold property. Many owners have purchased the freehold to their property. Despite purchasing the freehold, covenants within the lease require that each house owner retains a share in the company.  Purchase of the lease will run to several thousand pounds. Waterthorpe ltd DO NOT own the freehold of properties. Each house owner is required to pay a maintenance levy currently set at £140 per year, paid in biannual instalments

When purchasing a property on the estate, it is vital that you check the boundary  of the property against the land registry plan. Some properties have adopted part of the amenity land into the boundaries of individual houses. You may not own all your garden!  Ownership of garage sites are apportioned to property owners and are not maintained by Waterthorpe  Ltd.

Waterthorpe Ltd do not produce a new owners pack. The directors do everything in their power to keep  the maintenance  levy to a minimum. Up to date accounts are visible at Companies House.

Waterthorpe Ltd  Registered  Office. Number Crunchers,  2 Rotherside Court, Rotherside Road, Eckington, Sheffield, S21 4 HL. Company number 01139794.

Shares

You will be required to take up a share in the company. Your conveyancing team should apply for that share.  There is a fee of £20 to be paid for the issue of a share. The existence of Waterthorpe Ltd  and  the requirement to pay a maintenance levy are often overlooked by conveyancing teams.