If you have bought a council owned flat or maisonette you are now a leaseholder. This means that you have purchased the right to live in your property for a fixed number of years without having to pay rent (except ground rent of £10 per year). The lease is initially granted for 125 years.
The lease agreement you signed when you bought your flat or maisonette forms a binding contract, enforceable by law, between you and Hull City Council. It is important that you understand your lease agreement and the conditions it contains.
You should read your lease agreement carefully and if there is anything in it that you are unsure about get advice from a solicitor, Hull Advice or Citizens Advice Bureau.