We supply information to your solicitors to allow the sale to progress, but we’re not directly involved. Solicitors will usually ask us to complete a leasehold property enquiry questionnaire and our fee for doing this is £240 inclusive of VAT. We’ll respond within 15 working days of payment of the fee.
We’re usually asked to supply three years of accounts, current service charges, Insurance details, fire risk assessments, asbestos surveys and consultation notices.
If you purchased your home through the Right to Acquire scheme or the Right to Buy scheme and are selling within five years of purchase, it’s likely you’ll have to repay some of the discount you received. The amount you’ll need to repay depends on how much the value of your home has changed since your original purchase and the time which has passed.
If you want to sell your share of your home, please contact Raven Homes on firstname.lastname@example.org or 0300 303 3835. You’ll need to provide written notice of your intention and comply with the requirements of your lease. We usually have a six or eight week period to nominate a purchaser.
Once we’ve nominated the purchaser, our role is simply to supply information to the solicitors including responding to enquiries.
Please note these leases can only be assigned to a person of pensionable age so please make sure your estate agent clearly shows this when marketing your home. We currently accept a minimum age of 60 and we require proof of age for your purchaser to agree to the sale. We would expect the purchaser to be retired, although part time or voluntary work is acceptable.
In addition to the requirements shown in the leasehold section above, you’ll be required to contribute into a property maintenance ‘sinking fund’. A sinking fund is a pot of money which is kept aside for leaseholders to meet the costs of significant works to the building, rather than invoice large and unexpected amounts at any one time. It’s at a rate of 0.5% of the property value per year of ownership. You also need to pay for a valuation determine this value and the legal costs of the Licence to Assign needed to assign the lease.