Leaseholders buy the right to live in a property for a fixed number of years. At the end of the lease, ownership of the property returns to your landlord; unless you apply to extend the lease or in the case of shared owners in houses, purchase 100% of the property and obtain the freehold.
With the freedom and independence of being a leaseholder, comes additional responsibilities. Your lease agreement sets out your rights and obligations in full. A copy of the lease should have been given to you by your solicitor when you purchased your property. Your solicitor should have also explained the main provisions of the lease.
By following the links below, you can find detailed information about being a leaseholder with Orbit.