Information for leaseholders
If we continue the redevelopment of South Kilburn, as a leaseholder you will get:
- The choice of either buying a new property on the estate on a shared equity basis (where possible) or selling your home back to the council and leaving the estate
- Market value for your home plus;
o 10% home loss payment (resident leaseholders), or 7.5% home loss payment (investor leaseholders)
o Solicitors fees, survey fees and other reasonable moving expenses paid.
In some cases, it may be impossible for the council to acquire all property interests by agreement in the projected timeframe or at a reasonable cost. We may therefore make a Compulsory Purchase Order via the courts in parallel with negotiations. This is to ensure that the redevelopment timetable can be met and that we can continue to deliver much needed new homes.
Your new home offer
There are a number of housing options for leaseholders. Which are available to you will depend on the timing of when you move. They include:
- Shared equity (subject to availability)
You will own a share of the property, with the council or housing association owning the remaining share. You will not have to pay rent.
- Existing council property swap (resident leaseholders only)
This enables you, as a leaseholder, to ‘transfer’ your equity into a vacant council social rented unit that is not due for demolition.
- Shared ownership
You own a share of the property, and pay rent to a housing association on the remaining share. You can increase your ownership percentage over time, if you wish to.
To talk to someone about your options please contact our dedicated Leaseholder Liaison Officer by emailing ERSK@brent.gov.uk