Your lease

About your lease document and why it’s important when selling your home or buying more shares

Your lease agreement is a legal contract between the landlord and you, the leaseholder, under which you are granted access to the property for a certain amount of time. There are conditions attached to this agreement regarding how and by whom the property may be used.

Your lease document outlines this agreement and tells us:

  • Proof of ownership of the property
  • The number of years remaining on your lease

If you are selling your home or buying a bigger share, we will need to check the details of your lease and keep a copy for our records. We usually obtain a copy your lease from the HM Land Registry website.  However, if you already have a copy, you can speed up the process by sending it to us.

Check out our lease e-guide here.

Low lease term

If you have a lease with fewer than 85 years remaining, you may find it harder to buy more shares or sell your home as lenders are sometimes reluctant to provide mortgages on properties with low lease terms.  We recommend speaking to your financial advisor or solicitor to understand whether your remaining lease term suits your needs.

If you have a lease with fewer than 85 years remaining, we also recommend paying a bit extra and requesting a combined valuation and lease extension report from your RICS surveyor so you can find out how much it would cost to extend your lease.

If you’re a shared owner looking to sell or buy more shares and you’re not sure what your lease term is, please contact us and we can help: