All you need to know - Riverstone Kensington S - Flipbook - Page 30
Can I take out a mortgage to buy the apartment?
Our lease does allow you to take out a mortgage when you buy the apartment. You
would need to speak to a mortgage broker to see what mortgages are available to you.
Our lease limits the amount you can borrow up to a maximum of 60% of the value of
If you do decide to take out a mortgage, we strongly recommend you get independent
financial advice about the mortgage. This is to make sure you know you can afford the
mortgage repayments as well as the other amounts you pay under the lease.
Can I sublet or rent out my apartment?
No. Renting or subletting your apartment is not allowed under the terms of the lease.
This includes renting your apartment, or any part of it, online or via agency websites
such as Airbnb.
Can I carry out works to my apartment?
Yes. Non-structural works are allowed but we will need to approve any works and
contractors before you start. The on-site Riverstone team will be more than happy to
help arrange any works you wish to carry out. We can also put you in touch with our
pre-approved contractors. We can ask you to remove any works which you carry out
during your time at Riverstone before you sell the apartment. Please ask our client
advisers for a copy of the Lease Summary for more information.
What happens if repairs are needed in the future?
Riverstone will pay for all long-term external repairs and the upkeep of all communal
areas at Riverstone Kensington. The Deferred Fee will contribute towards these costs but
you, as a resident, will not pay anything more for these works.
You have to look after the decoration, upkeep and repair of your apartment. The on-site
Riverstone team will be available to help arrange and organise any works you need to
You or your representatives will need to redecorate the apartment before you sell. We
do not expect you to refurbish the apartment before you sell. However, we can help you
arrange this if you think such works might increase the sale price of your apartment. For
example, you might want to refurbish the bathroom or kitchen. We may decide to provide
a contribution to the cost of any such works. If we do, we will not charge any interest. We
will collect our contribution out of the money you receive when you sell the apartment.
How do I sell my apartment?
You can choose to sell the apartment at any time on the open market. Riverstone will
always be available to help you in the sale of your property.
If you use Riverstone as single or joint sales agent, you will benefit from our marketing
services. You will also have access to our database of interested parties and waiting lists.
One of our client advisers needs to attend all sales viewings and meetings with the
buyer. This is to make sure that information given to the buyer is accurate and not
misleading. It is important that the Riverstone retirement living concept is properly
explained to future buyers.
Can I bring my car?
Yes, you can rent a space in our secure car park on a 12-month licence. This is subject to
availability. We do not have enough parking spaces for every resident. You can renew
the car parking licence each year if you want to. We will provide a valet service to take
away the stress of parking and collecting your car. Visitor parking is offered, subject to
availability. We do not sell any car parking spaces to residents.