A focus on leasehold

If you’re an Isos leaseholder then you’re in the right place. Find out about repairs and maintenance, sub-letting or selling your property and leaseholds in general.

We’ve compiled a list of questions that we often get asked by our leaseholders, but if you need any more information on any aspect of your property or its lease then we are the team to talk to. Give us a ring on 0300 300 1505.

Your leasehold questions answered

What is a leasehold ownership?

Buying a leasehold property is like buying a long tenancy (usually 99 years). You buy the flat or house for the term of the lease. The lease sets out your rights and responsibilities as well as Isos’ rights as responsibilities as the landlord.

What charges do I have to pay and why?

As a leaseholder you will pay monthly charges that cover the cost of Isos maintaining and managing your home. These charges include administration costs, buildings insurance, service charges and ground rent and vary from house to house. If you want to find out more about your charges call the Leasehold Team on 0300 300 1505.

How do I extend the lease on my property?

If you would like to discuss extending your lease you should contact the Isos home ownership team on 0300 300 1505. It’s not a difficult process and we recommend that you consider it. From a mortgage lender’s point of view property it is recommended that you have a minimum of 75 years left on the lease if you are planning to sell it on.

How do I get a copy of my lease?

If you don’t have a copy of your lease, then the solicitor who advised you when you bought your property will hold a copy. The HM Land Registry can also supply you with a copy.

Is my property insured?

All Isos leasehold properties are automatically covered by our insurance policy – meaning residents have one less thing to worry about. The insurance covers the likes of falling trees, damage to supply pipes and cables, fire, water escapes and more. The contents of your property are not insured – you need to arrange this insurance yourself.

How do I sell my property?

If you’re planning on selling your property you’ll need to contact the Isos home ownership team on 0191 223 8749 or email isos.homebuy@isoshousing.co.uk. The team can help you with the sales process and – if you’re looking for somewhere new – can let you know what is available in other locations.

Can I sub-let my property?

Isos shared owners cannot take in lodgers or rent their property out as sub-letting is not allowed under the terms of the lease. However, some 100% owners and Right to Buy owners can sub-let where the lease allows. When renting your property you remain responsible for all monthly charges and the conduct of your tenants.

Can I remortgage my property?

You can remortgage your property if you are buying out a partner, for home improvements, or just to change your product at the end of a fixed term. Your new mortgage offer would need to be approved by Isos prior to completion of the remortgage.  

Contact the Home Ownership team on 0191 223 8749 to find out more about remortgaging

What is staircasing?

Shared owners can increase the share of their property that they own by purchasing additional shares; this process is known as staircasing. 

Usually the minimum percentage you can staircase by is 10% although this may depend on the terms and conditions in your lease. Unless there is a restriction in your lease you can usually staircase until you own 100% of your property.

You can staircase providing that your rent account is up-to-date and stays up-to-date throughout the process.

There are three main benefits to staircasing:

  • As you purchase more shares your rent will be reduced.
  • Once you own 100% of the property, you will no longer be required to pay rent (although you may still need to pay services charges)
  • The larger the share of the property you own, the more you will benefit if the property increases in value.

To find out more about staircasing call the Isos Home Ownership team on 0191 223 8749

I’m having trouble paying my mortgage - can you help?

The first thing you should do is contact Isos – you don’t have to deal with your difficulties alone. We have a specialist team that can offer advice and support if you’re worried about your financial circumstances. Click here to visit our Benefits & Money team's page.

Where can I find more information specifically for leaseholders?

Twice a year we publish Isos Leaseholder – our publication especially for Isos leaseholders. To see back issues see our document library at the right of the page.

The Leasehold Advisory Service is funded by the Government and provides free, impartial advice to leaseholders. Visit their website on www.lease-advice.org

Duncan Bird

Leasehold Team Leader

Lindsey Osborne

Leasehold Officer

Leaseholder News

Leaseholder-News-1

Isos Leaseholder News - Issue 1

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Leaseholder-News-2

Isos Leaseholder News - Issue 2

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Leaseholder-News-3

Isos Leaseholder News - Issue 3

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Leaseholder-News-4

Isos Leaseholder News - Issue 4

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Leaseholder-News-5

Isos Leaseholder News - Issue 5

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Isos Leaseholder 6

Isos Leaseholder News - Issue 6

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Isos Leaseholder 7

Isos Leaseholder News - Issue 7

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