Our Leasehold Team

At Snugg Homes we have a dedicated Leasehold Team who are on hand to offer help and advice on all aspects of your lease. The team provide information about the services you receive and the cost of these services.  They strive to ensure that all service charges are reasonable and that all services are provided to a high standard.

As a leaseholder, there are many instances where you may need to talk to a member of our Leasehold Team, but two key areas of their service include Staircasing (buying a further share in your home) and Resales.

To offer leaseholders an insight into these two services, the Leasehold Team have outlined the processes that they have to follow for each.

Staircasing

  • When a Staircasing enquiry is received, we send out information about the process to the leaseholder – and then set up electronic file.
  • Shared owners wishing to Staircase are responsible for their valuation and solicitors fees, which vary from case to case. We don’t pass on our legal fees to the Shared Owner.
  • Once we have received the valuation, we make sure it is RICS (Royal Institution of Chartered Surveyors) accredited – we check the figures to see if *comparables (the ‘sold prices’ of similar properties in the area) are included, we also compare the new valuation against the original purchase price (if reasonably new) and then other Staircasing properties in the area. Then we log the date of valuation and note the 3/6 month deadline.
  • Once the valuation has been assessed, if it is deemed unreasonable we will challenge it if required.
  • We then send the offer letter and Notice of Intention to the person who is Staircasing.
  • Once we have received the Notice of Intention back from the purchaser, it is then sent to the solicitors.
  • We advise the buyers and the solicitors of the valuation deadlines (3 and 6 months). If the valuation is within 2 weeks of expiry, we send advisory letters to the buyers. If the 3 month deadline is reached we request an extension. If the 6 months deadline is reached, we request a new valuation.
  • The team liaise with solicitors and work towards completion.
  • As the necessary documents come through, we ensure that they are processed and signed accordingly.
  • The signed documents are scanned and filed on our system, we then transfer the files electronically to the solicitors and send all hard copies recorded delivery.
  • On completion of the sale, we close the account, advise the relevant Jigsaw Homes Group staff – and send out a completion statement.
  • Finally we ensure the file and property log are fully up to date with the new details.

Resales

  • We set up electronic folder when a Resale enquiry is received.
  • We then send out a ‘consent to sale letter’ to the Shared Owner.
  • When we have received the new buyers details, signed consents and Help to Buy approval, we refer them for an affordability assessment.
  • Once the assessment has been completed, we send out letters advising of the affordability assessment decision.
  • When required, we complete LPE1 document. This is a document that is used to obtain information about a leasehold property, it will seek to confirm specific details regarding ground rent, service charges and the management of the building. In particular, the LPE1 will establish whether there are any problems that exist or costs that may be incurred with the property in the near future.
  • Once the original owners account has been ended and the Notice of Transfer received, we set up an account for the new purchaser.
  • Some properties (especially properties previously purchased under the Right to Buy scheme) will have Land Registry restrictions which need to be dealt with and certificates produced.
  • We send out a welcome pack to new buyers (what does this include?). (This typically includes details of rent and service charges, a buildings insurance summary document, privacy notice and a request for information about the new owner).
  • Complete CoRe (continuous recording – it’s the method we use to tell the Social Housing Regulator what is happening with individual properties) form for relevant sales.
  • All the necessary documents are added to our secure document filing system.
  • Once all the paperwork is complete, the file is moved to the ‘completed’ section.
  • Throughout the process, we ensure that the log and electronic folder are kept up-to-date and maintained throughout the sale.
  • Finally we calculate any apportionments (overpayments of rent and service charges between the outgoing and incoming Shared Owner) and process any refunds.

If you would like to talk to our Leasehold Team about a Resale or Staircasing please contact:

t. 0300 111 1133

e. ServiceChargeLeasehold@Jigsawhomes.org.uk