Buying a leasehold property
When you buy a flat or maisonette, you do not buy the flat itself, you buy a lease from the landlord. This gives you the right to live in the property for an agreed period of time.
If you buy a council flat we own the building as the freeholder and you become a leaseholder.
A standard lease is 125 years from when the property is first purchased under the Right to Buy.
At the end of the lease period the flat will go back to us unless you apply to extend it.
The lease is a legal agreement between you, as the leaseholder, and the freeholder who owns the building.
A lease will usually contain details of:
- how long the lease is for
- service charges or other costs you must pay towards maintaining the building and shared areas - this can include maintenance and cleaning, repair costs, admin or management fees and building insurance
- the property including a plan showing your home, the building it is in, and the estate the building is on
- any garden, shed or garage included in the sale
- your rights and responsibilities
- services provided like cleaning and lighting of corridors and stairways
When you buy a leasehold property we'll tell you how much the service charges are and what you need to pay.
If there is money left to pay from the last year, you'll need to pay it as the new owner. It's between you and the seller how you pay this - we won't get involved.
You can visit the Leaseholder Advisory Service for more information on buying a leasehold property.
Selling a leasehold property
When you sell a leasehold property you will need to give information to the buyer as part of the seller’s information pack.
This usually includes details on:
- the expiry date of the lease
- service charges
- insurance
- major works
- any disputes
If you don't have these details we can give them to you for a charge. You'll need to ask for them through your solicitor.
If you need a window or door certificate to prove they meet building control standards you can buy your certificate from the FENSA website.
We will let you know how much the service charges are and how much has been paid already. Any outstanding money needs to be paid as part of the sale.
If there is money left to pay from the last year, it's up to you and the buyer to agree how they will pay it - we won't get involved.
The buyer's solicitor will let us know when the sale is complete.