Contact UsLSE Schemes
Back to Schemes List An Introduction to LSE
Leasehold Schemes for the Elderly (LSE) enable individuals or couples over the age of 55 who are able to live independently (in the case of couples, only one partner has to be over 55) to purchase accommodation for the elderly. The purchase price for each property is either 70% or 75% of the market value, depending on the terms of the Lease. The remaining percentage cannot be purchased as TVHL receives a subsidy for this in order to ensure that the cost of such accommodation remains affordable. The term of the lease is usually 99 years.
Each property is subject to a Lease which describes, along with other covenants, how the property is managed, what services TVHL provides, the roles and responsibilities of both the Leaseholder and TVHL, the terms of termination and the resale procedure.
A monthly service charge is payable on all LSE properties for the day-to-day running cost of the scheme. The services provided are buildings insurance, grounds maintenance, communal lighting and heating (if applicable) and sinking fund.
Eligibility
Tees Valley Housing Limited takes into consideration all of the following before making an assessment of housing need:
- Your existing housing conditions and the length of time you have been in this position.
- Your ability to cope with these conditions.
- Your ability to purchase and meet outgoings without hardship.
- Your ability to purchase outright a similar property.
Procedure
Application forms are available on request from TVHL and must be returned to our office. We will then consider your application for the waiting list. When a property becomes available TVHL will make arrangements to visit you in your home and make an assessment of your housing need based on the eligibility criteria
We shall write to you within ten days to advise you if we are in a position to make the property available to you for purchase. If you are not successful we shall keep your application on the waiting list for future properties
If we are unable to accept you on to the waiting list we will inform you in writing giving the reason. However if your circumstances change in any way TVHL will consider a new application. Please note it is not our policy to acknowledge receipt of application forms.
Confidentiality
Any information provided by you to TVHL about your application will be dealt with in confidence, and will made available to you on request. If there are any changes in your circumstances please contact TVHL immediately as it may affect your application.
Right to Appeal
If any applicant disagrees or is unhappy with any decision made regarding their application they may appeal to TVHL.
Further Information
For more information, please contact:
The Leasehold Manager,
Tees Valley Housing Limited,
Rivers House, 63 North Ormesby Road,
Middlesbrough, TS4 2AF
Telephone: 01642 261100
