Leaseholders' Handbook - Plymouth Community Homes

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Selling your flat You are free to sell your flat at any time on the open market. Do I have to pay anything to Plymouth Community Homes when I sell my flat? If you are the original leaseholder who purchased the flat under the Right to Buy scheme, you will have to pay some of the sale proceeds to Plymouth Community Homes if you sell within the first five years, as per your lease agreement. The amount that you have to pay is detailed in your lease and is calculated as a percentage of the original Right to Buy Discount that you received when you purchased your flat, when compared to the valuation of the flat that was used in the Right to Buy process. You are allowed to retain one fifth of this amount for every full year that you have owned the flat. Sale Enquiries As part of the conveyancing process the sellerʼs solicitor will make certain enquiries of the landlord. In Plymouth most solicitors have joined together under the name ʻFastmoveʼ and collectively they have designed a standard set of enquiries that they send to landlords. Plymouth Community Homes makes a charge for responding to these enquiries. Usually the solicitor sending the enquiries will send a fee to cover the cost of this with the enquiries. However, occasionally this does not happen and the solicitor requires the leaseholder to pay this direct. What happens when the lease ends? The lease of the property lasts for a certain length of time, known as the lease term. This is usually a period of 125 years. At the end of the lease term the property ownership will transfer back to the landlord, Plymouth Community Homes. ➪ Previous page | Contents page | Next page ➪ 34
Will Plymouth Community Homes buy back my flat? At the moment Plymouth Community Homes does not have a budget that would allow it to buy your flat from you but you can sell your flat on the open market at any time. However, Plymouth Community Homes may consider buying back the flat in very exceptional circumstances, where for example a leaseholder is in severe financial difficulty and on the verge of being made homeless. Please contact our Leasehold Team to discuss this in the first instance. ➪ Previous page | Contents page | Next page ➪ 35
Page 1 and 2: Leaseholders’ Handbook
Page 3 and 4: Contents Electronic version: please
Page 5 and 6: Introduction from the Chief Executi
Page 7 and 8: Our offices Our Head Office is in t
Page 9 and 10: Not all leases are the same Not all
Page 11 and 12: Leaseholdersʼ Responsibilities (co
Page 13 and 14: Paying the annual service charge Al
Page 15 and 16: European Union (EU) Procurement Rul
Page 17 and 18: In certain circumstances, it may be
Page 19 and 20: Having problems with payments? Prob
Page 21 and 22: Supporting People Supporting People
Page 23 and 24: What if I am still not satisfied? I
Page 25 and 26: Buildings Insurance Plymouth Commun
Page 27 and 28: Repairs Plymouth Community Homes an
Page 29 and 30: Gas and Electrical Servicing You ha
Page 31 and 32: Resident Involvement Plymouth Commu
Page 33: Subletting your flat Leaseholders a
Page 37 and 38: Frequently Asked Questions When the
Page 39 and 40: Consumer Advice Trading Standards P
Page 41 and 42: Lessor Another word for freeholder.
Page 43 and 44: Leaseholder Handbook Translation En

Leaseholders' Handbook - Plymouth Community Homes

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