FAQs & Glossary

This page will respond to your frequently asked questions (FAQS) and will be updated regularly.

What is the offer to leaseholders?

Introduction

Barnet Council have appointed L&Q and Countryside Properties as the development partner to re-develop the Dollis Valley Estate. All leaseholders will be affected and the leasehold interest of the properties will transfer to L&Q.

The Council and development partner value the presence of leaseholders and are therefore offering resident leaseholders a range of options to enable them to remain in the new scheme or to move elsewhere.

A resident leaseholder is someone who has used their existing home as their only or principal home and has lived in their home for the period of 12 months immediately before the date of sale.

Leaseholder Compensation

All leaseholders, resident and non-resident, will be compensated.

They will be able to sell their home at Open Market Value (OMV). Resident leaseholders will also receive a homeloss and disturbance payment to assist them in their move.

The Offer to Resident Leaseholders

The options available to resident leaseholders are summarised below.

Option 1 – Straight forward buy-out

Sell your home at open market value and make your own arrangements for a new home. This can include buying one of the private homes for sale on the new scheme or moving elsewhere.

Option 2 – Shared Equity

Transfer the value of your current home into a home on the new scheme.

Option 3 – Shared Ownership

Purchase a home under the shared ownership offer on the new scheme.

Option 4 – Up to You

Rent a home under the ‘Up To You’ offer on the new scheme.

Option 5 – Return to rent

Rent a ‘social rented’ home on the new scheme.

The detail of how homes will be valued and how the options will work is currently being progressed and further information will be available when this has been completed.