A leaseholder is someone who has either bought their flat from Villages Housing under the 'Right to Buy' scheme or bought it on the open market from the previous owner.
The lease is usually set at 125 years from the original date the flat was bought under the 'Right to Buy' scheme. When the lease time runs out, the flat returns to Villages Housing.
The leaseholder will be required to pay ground rent. Depending on the type of property you buy, there may also be some annual charges.
You will still have access to Villages services. To find out more about these, call our Service Centre on 0300 123 55 22 or email email@example.com.