What does it mean to be a leaseholder?
As a leaseholder, you have purchased the right to live in your property for a fixed period, up to 125 years.
The lease is a binding contract that states your rights and obligations as a leaseholder and Magenta Living's rights and obligations as the freeholder (the owner of the property).
Magenta's Responsibilities
We will:
Provide all new leaseholders, with a welcome information and handbook
Insure the structure of the building against destruction or damage by fire, lightning, explosion, earthquake and other reasonable risks. (the leaseholder is responsible for insuring the contents of the home).
Maintain the appearance, structure and outside of your building for example, communal lighting, windows and door entry systems.
Maintain communal garden areas, boundaries and paths where we are responsible for doing so.
Offer an appointment to all potential leaseholders to discuss the implications of owning a lease at section 125 offer notice stage.
Offer leaseholders help and advice regarding any issues that may affect them.
Correspond with solicitors and legal advisors within five working days regarding property sales.
Keep you up to date with any changes.
Leaseholder Service Charges
As part of your lease, you’ll contribute towards the costs of providing services to help maintain the building and communal areas.
A full list of these services and costs, is included in your Certificate of Expenditure.
The types of services will be different depending on where you live, but these may include:
Communal garden and boundary maintenance
Day-to-day repairs for communal areas or the building
Bulk refuse containers
Cleaning , security and site management
Communal television aerial
Lift maintenance
Communal lighting , heating and electricity
Fire-safety equipment
Buildings insurance
Major works to renew and repair key parts of the building
If you bought the lease of your flat in the last five years under the Right-to- Buy scheme, you may be affected by the Section 125 reference period. This could limit the amount we charge you. To find out more, please contact us.
In addition to your service charge, you will need to pay your ground rent. This is a fixed amount of £10.00 each year and in due on 1st April. If you have extended your lease or a new lease was granted after 30 June 2022, you no longer pay ground rent.
To find out more about your rights and obligations click here.
If you are a leaseholder, Magenta Living arranges your buildings insurance as part of your service charge.
How do I pay my Leaseholder Service Charge?
Direct debit and standing orders
Choose the date your payment is made, and contact our Revenue Support 0808 100 9596 and select Option 2 and Option 2.
Bank Transfer
You can pay by direct funds transfer. Please use the following bank details: Our sort code is: 60-05-07. Our account number is: 15553213.
Over the phone
We accept all major credit and debit cards. Please contact us on 0808 100 9596.
By post
You can send a cheque or postal order made payable to Magenta Living to: Partnership Building, Hamilton Street, Birkenhead CH41 5AA.
Swipe card
Pay at the counter using your swipe card and cash or debit card. Not all outlets accept cheques. You will receive a receipt. To request a swipe card, call 0808 100 9596 and choose Option 2 and Option 2. Always quote your account reference number.
Paying for Major Works
To help manage the cost, we offer several payment options and ways we can support anyone in financial difficulty.
Pay by instalments
When you get your bill, payment is due immediately. However, if you ask us to, we can arrange a payment plan to spread the cost over 12 months up to a maximum of six years.
Financial help and support
If you are struggling, please get in touch with us on 0808 100 9596.
Leasehold Advisory Service
An independent service that provides free advice to leaseholders.
Tel: 020 7383 2500
Website: www.lease-advice.org
The Pension Service
Tel: 0800 731 0469
Website: www.gov.uk/contact-pension-service
Visit our Money Advice page www.magentaliving.org.uk/money-advice
Extending your lease
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 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:
£1,250 plus VAT for our legal costs
up to £47.40 for disbursements – for example Land registry fees
£375 plus VAT for our surveyor’s fees
We will consider and check your offer
If accepted, we’ll send you a counter notice, which is our formal response to your request
We will confirm the cost and term of lease extension
Gas Safety
Landlord duties
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
Keep your gas appliances safe
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.