Types of Leasehold

Raglan Housing Association owns and manages homes across England that are for sale on long leases to people of retirement age.

Most of these homes are self-contained flats, but some are bungalows. The majority were developed and built by private house-builders in the 1980s and sold on to Raglan, but some are new builds funded by government subsidies.

There are three different types of lease depending on the property and scheme:

• An " assignable " lease, whereby you buy what is left of the original lease (usually 99 years) from the existing owner
• A " surrenderable " lease, whereby we grant you a brand new (usually 99-year) lease
• A " subsidised surrenderable " lease, whereby we grant you a brand new lease, the cost of which is based on a percentage of the open market value. This type of lease only exists in two schemes, both of which were built by us with government subsidy.

Last updated: 04-02-2010