Supporting Leaseholders

Resident leaseholders will be able to claim compensation including:

Disturbance Payments (reasonable costs and expenses of moving) and a Home Loss Payment (10% of the market value of the property, up to a maximum of £44,000). Non resident leaseholders can claim 7.5% of the market value of the property up to a maximum of £44,000.

The Regeneration Team and residents from the Woodberry Down Community Organisation (WDCO) have worked in partnership to develop a series of options to assist resident leaseholders caught in the equity gap. This includes Shared Equity, Leasehold Swaps, Open Market Homebuy and Leasehold Swaps with Shared Equity. The leasehold options document is considered good practice by the Government (please click the link to download).

The following options are available to all resident leaseholders on Woodberry Down:

1. Open Market Purchase

2. Shared Ownership

3. Leasehold Swap

A support package has been put together to help Woodberry Down leaseholders buy a new home. Leaseholders who require financial assistance and support, and who meet the specific criteria, can access the following schemes to assist with their re-housing:

A. Leasehold Swap with Shared Equity

B. Shared Equity

C. Private Home Buy

D. Return to Tenancy Agreement

Information correct as of 5 February 2010