Being a leaseholder
One way of owning your own home is to become a leaseholder.
Within public housing, leases commonly apply to high rise flats and
maisonettes.
As a leaseholder with Trafford Housing Trust you will own the
property you live in - the internal four walls and everything
within it. What you won't own are the externals of your home - the
structure of your home, the land your home is situated on, or any
internal loadbearing walls, doors and window frames. These parts
belong to Trafford Housing Trust (the landlord), and the
maintenance, repair and improvements of such are undertaken by the
Trust. However, a yearly service charge is applicable to help cover
these costs.
The lease is a contract and should be discussed with a solicitor
prior to buying the property to outline all the terms and
conditions. Ultimately, a lease sets out the obligations of the two
parties: what you as the leaseholder agree to do, and also what the
landlord (the Trust) is bound to do over a fixed period of time
(generally 125 years).
We have produced a Leaseholder Handbook, which all leaseholders
should keep and refer to at all times. Click here to download a copy.