The length of your lease is stated in the estimated service charge letter, sent to you annually, and in your Certificate of Expenditure letter. You can also contact us on 0808 100 9596 to confirm how many years are remaining on your lease.
The recommendation is that leaseholders renew their lease between 80 and 85 years left. This is because if there’s less than 80 years left:
you may find it more difficult to remortgage or sell your property
it will be more expensive to extend the lease because you’ll have to pay the marriage value – the increase in the property's total value once the lease is extended.
If you want to extend your lease, your solicitor needs to send us formal notice. It should include how much you want to pay for the lease extension (the Premium).
When your solicitor sends us the notice, you will also need to pay:
If you are a Magenta Living leaseholder who sublets your property, the Health and Safety Executive provides guidance on how to comply with Gas Safety Regulations: Landlords - A guide to landlords' duties: Gas Safety (Installation and Use) Regulations 1998 as amended
Carbon monoxide from burning gas, coal, wood, or oil is invisible, tasteless, and odourless, but can be deadly within hours. Symptoms like tiredness, headache, nausea, and chest pain can be mistaken for flu, especially when asleep. If you suspect carbon monoxide exposure, seek immediate medical help.
For more information visit:
INDG238 Gas appliances. Get them checked Keep them safe