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 qualifying long-term agreements which will cost more than £100 per leaseholder and qualifying works which cost more than £250 per leaseholder (in adherence with Section 20 of The Commonhold & Leasehold Reform Act 2002).
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.
Paying Your Rent
Your rent should be paid by Direct Debits or bank standing orders
Dealing with Rent Arrears
Your home could be reposessed if you don’t pay your rent. Please contact Mercian immediately if you have difficulties in meeting payments.
Debt advice
If you are worried about being unable to pay your debts you must ask for help. Please contact Mercian on 0121 322 7373.