The lease is the legal agreement between you and Erimus Housing. Your lease is an important document as it sets out your rights and responsibilities as a leaseholder and those of Erimus Housing as the landlord.
When you buy a flat in an Erimus owned block, you purchase a leasehold interest and Erimus keeps the freehold interest. As a landlord, Erimus Housing owns the land the property is built on.
The lease will say which parts of the property you own and what rights over communal land you have acquired. This is called the ‘demised premises’ and will be identified by the address and by a plan or plans attached to the lease.
As an overview your lease contains some of the following information:-
You have the right to stay in your home until the end of your lease as long as you keep to the conditions set out in the lease.
If you are the first person to buy the property, the lease will be granted for a period 125 years. Subsequent owners take over the number of years remaining on the lease at the time of purchase.
If you are considering purchasing a flat or an existing leasehold property managed by Erimus Housing it is important that you understand the lease. The wording of the lease may be complicated and you should go through the lease with your solicitor to make sure you understand it.
Contact us by calling our contact centre on 08000 461600 or by emailing email@example.com