What is a lease?
The lease sets out the legal agreement between you (the leaseholder) and us (the freeholder). The lease is a very important document as it sets out your rights and responsibilities as leaseholder and our responsibility as freeholder and your landlord.
A leaseholder is the name given to a person who owns their property with a lease. The lease will have a plan attached showing your property and the block in which it is situated, together with any garden and/or shed included in the sale.
Generally as a leaseholder you will be responsible for the area within the flat and the freeholder will be responsible for the exterior of the building and the land on which the property is situated.
Most leases are for a term of 125 years from the date of sale of the first property in the block.
The lease will specify which parts of the property and rights over communal areas you may have.
All leases are granted by us and are almost identical. There may be some small differences depending on when your lease was granted but the main responsibilities for repairs and charges remain the same.
The lease contains covenants which contracts legally binding promises between you and us.