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About leases

Our Leasehold Services Team can deal with any enquiries or queries about your lease. We are here to offer help and guidance.

Different Types of Lease

A shared ownership lease is where the occupant owns part of the property and rents the remaining part from Mercian
A full ownership lease is where the occupant now owns all of the property following the purchase through the Right to Buy scheme or the purchase of a shared owned flat
A Leasehold Scheme for the Elderly is a full ownership lease but there are restrictions on who the property can be sold to. The lease is surrendered on sale and a new lease is granted to the new owner

The purpose of the lease is to specify the responsibilities and the rights of the leaseholder:

Your Responsibilities

To pay the service charge
To contribute to the upkeep of common areas
To keep the premises clean, well decorated and in a state of good repair
To get consent for any alterations or improvements to your home
To give Mercian or approved contractors access to your property to carry out inspections or major repairs
To give Mercian correct notice when you move
To not cause nuisance to your neighbours

Your Rights

Mercian must provide you with information and consult you about any planned improvements which will cost more than £50 per property on your scheme or more than £1,000 for the whole scheme
You must receive your demand for service charge payments within 18 months of the costs being incurred
If you live in a block of more than five homes, Mercian must provide you with a copy of the service charge schedule.

Service Charges

All those living in properties that are served by communal facilities or services pay service charges. The charges are made up of:

Provision of lighting of communal halls, landings, staircases
Cleaning of communal areas
Maintenance and servicing of communal heating and hot water systems and lifts
Provision of gardening service for the upkeep and maintenance of communal garden areas
Employing Sheltered Scheme Officers
Repair and maintenance to the structure and exterior of the property
Buildings insurance in the case of fire or storm damage
Management of the services provided and the administration of the accounts
Contribution to a reserve fund towards the renewal of major items such as roof, windows etc.

Rent

Shared owners make a payment each month. This amount is made up of rent, buildings insurance, management fee and, in some cases, a service charge.

The rent on New Build HomeBuy is subsidised to make it affordable and is payable via Direct Debit. It makes purchasing a New Build HomeBuy property approximately 30% cheaper than buying outright.

Shared owners make a payment each month. This amount is made up of rent, buildings insurance, management fee and, in some cases, a service charge.

How will my rent change?

You will be advised of your rent and the date it is due at the beginning of your residency. You are required to pay your rent on time. The rent will change yearly and prior notice of any change will be given.