Transferring your Lease
If you purchased under the Right to Buy and you transfer or sell the lease to someone else within five years, you will have to repay some of the discount you received. The Council will reduce the amount you have to pay by one fifth for each full year that has passed since you bought the lease. If the property is sold within 10 years of the Right to Buy date, it then has to be offered back to the landlord (CBC) for first refusal.
You must pay any bills you owe before you move out, including any service charges and ground rent. You must also ask your solicitor to contact us before the lease is transferred. We will then sort out any charges you still owe and check that you have met the conditions for selling your lease.
Solicitors acting for the new owner of the lease must inform the Council that the lease has been transferred within 21 days of signing the papers. We charge a fee for the work we have to do to transfer the lease.
If you wish to sublet your home, please write to us requesting permission. This must be done as it affects your buildings insurance. We must also have an address and phone number where we can contact you. You should also check your mortgage agreement to see if it includes any conditions about subletting. Make sure that you have a suitable tenancy agreement between you and your tenant. Remember, you may not be living at the property, but the lease is in your name and you are responsible for the property and the way your tenants behave.