Once we receive your valuation report and we have all the information we need we will send you your section 125 offer notice to you by post.
If you are a potential freeholder, we will not carry out any external works to your home under the major work programme. If you withdraw your Right to Buy after the project has started, it may not be possible to include your home in these works. Your home may need to be included in a later project as a one off. If after improvement works are completed and you reapply for your Right to Buy the works may have changed the value of your property.
If you live in a flat or maisonette your home is a leasehold property. This means that if you buy your home we will sell you either a full 125 year lease or part of a 125 year lease. Newcastle City Council will still own your home and the land that you currently rent.
If you are a leaseholder we will charge you a yearly management fee and service charge, which may be thousands of pounds, as well as any routine repairs and major work.
The Governments ‘Thinking of buying your council flat?’ booklet contains a lot of useful information on buying a leasehold property which is available here:
Details of the acceptable documents is available here.
You can contact Newcastle City Council's Money Matters service on 0191 277 1050 for money advise, or visit the Money Matter website.