What is leasehold?

'Leasehold' refers to any home where a lease has been issued by the owner of the land (the freeholder) that allows another party (you, the homeowner) to occupy part of a property, such as a flat. In most cases we are the freeholder, with some exceptions where an individual or organisation has issued a head lease to us, and we have in turn issued a lease to you.

What is a lease?

When you bought a Shared Ownership or other leasehold property through us, you purchased a (residential) lease. A lease is a tenancy agreement for a term of 21 years or more. It grants you, the leaseholder, the exclusive right to occupy your home for a set term (usually 99 or 125 years), provided you comply with the conditions, known as 'covenants', it contains. It also sets out your and the freeholder's obligations to one another. For example, it includes the terms of payment of your service charge and the freeholder's repair responsibilities. A lease gives you more security of tenure than renting privately on a standard tenancy.

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Your guide to staircasing

Looking to increase your share of ownership, here's what you need to do.
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Your guide to selling your home

When you’re ready to sell your shared ownership home follow this guidance.
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Received a HomeBuy loan?

If you bought your home using this method, different rules apply for you in some circumstances.

Extend your lease

Find out what you need to do to extend your lease.

Get a copy of your lease

Find out where to get a copy of your lease.

Independent leasehold advice

Lease advice from independent professionals.

Your property management officer

Your property management officer (PMO) is your main point of contact with us. Don't hesitate to get in touch with your PMO via My Account with questions or concerns. While your PMO may change at times, we'll aim to provide consistent, uninterrupted service.

Your PMO is responsible for arranging repairs to the communal areas, setting budgets, inspecting your building or estate, and much more. He or she is often out of the office on property visits and may not be able to respond to enquiries immediately, but will work to respond to phone calls within 24 hours and emails within five working days.

Download the leasehold customer guide