PrintStadium owns 1566 leasehold units, of which a significant proportion are shared owners (who don’t own 100% of the equity). We provide a range of services for leaseholders:
- Arranging estate/block services such as cleaning & grounds maintenance
- Maintaining the external fabric and services in the block
- Managing service charges & producing audited accounts
- Resales/remortgages
- Lease extensions
- Staircasing (for shared owners wanting to purchase more equity)
- Right to acquire
- Nominations for shared owners wanting to sell
- Lease queries
- Enfranchisement
The leaseholder team can be contacted on 020 8451 7526.
Staircasing
Shared owners have the right to purchase more equity in their property. It is known as staircasing. Shared owners can purchase a minimum of 10% up to 100%. They will have to pay for an independent valuation to be carried out (£150 currently) as well as their legal costs.
If you want to know more please contact the leasehold team on 020 8451 7526
Lease extensions
100% owners have a statutory right to extend the duration of their lease. They need to issue us with a Section 42 notice which obliges us to get an independent valuation done of the property and the value of the remainder of the lease (current cost £400). The valuation is calculated of the net present value of the ground rent over the remainder of the lease. It is important to note the valuation changes dramatically if the lease has less than 80 years left on it.
Stadium has also agreed that shared owners who own less than 100% of the equity can also extend their lease by agreeing to vary their lease. It is a similar process to the statutory route except that permission has to be sought from the Homes and Communities Agency.
If you want to know more please contact the leasehold team on 020 8451 7526
Right to Acquire
Tenants who live in properties built since 1997 and that were built with social housing grant are entitled to acquire or buy their property.
If you want to know more please contact the leasehold team on 020 8451 7526
Enfranchisement
Long leaseholders have the right to purchase the freehold of their property and take over all management responsibilities for it including all services. A majority of long leaseholders in any property is required to enable this to happen even if not all properties are leaseholders. If you require any further information about this please contact the Leasehold Team on 020 8451 7526.
