Written question WQ88977

The Leaseholder Support Scheme includes an option for leaseholders selling their property to rent it back. This option is based on individual circumstances and the terms of the lease agreement.

Once the leaseholder has completed their application and provided their evidence to support this, they are immediately referred to an Independent Financial Advisor. The Independent Financial Advisor will assist them in managing their household finances, gaining support from their mortgage provider or any other support available to them. Each case is dealt with on an individual basis and there are several factors that could impact the timescales involved. Therefore, it is not possible to provide and average time scale.

A total of 18 applications have been received to date with eight applicants have been eligible for support through the scheme. Of these eight applicants, one property has been purchased and completed and seven are in progress.

All property valuations through the Leaseholder Support Scheme are undertaken by valuers accredited by the Royal Institution of Chartered Surveyors. If a leaseholder is not satisfied with the valuation, they have a right to ask for a second valuation by another accredited valuer. This is provided free of charge.