Shared ownership is a simple, affordable way of owning a brand new home without taking out a huge mortgage.
- Paying your rent and service charge. Your service charge pays for things like maintaining door-entry systems, cleaning shared areas and the upkeep of communal gardens. Your rent is based on a % of the unsold equity in your home. There are a number of ways you can pay your rent and service charge.
- Carrying out any repairs your home needs. New properties have a set time period within which the housing developer must fix any defects – this varies, but is usually 12 months. If you want to make improvements to your home, you’ll need permission in writing from us first.
- Having your gas boiler or other gas appliances serviced regularly to make sure they are working safely and efficiently. We can arrange for a ‘Gas Safe’ registered engineer to carry out a full check and provide a gas safety record for your home. They will also advise you of any extra work which needs to be carried out. Your Home Ownership team can give you more information about this.
Please refer to your Handbook for leaseholders and shared owners [adobe pdf / 4 MB] for more details
Buying extra shares in your home
Did you know that once you have moved in to your new shared ownership property, you can start buying extra shares in your home? This is known as ‘staircasing’.
If you have any questions, please email the Home Ownership team.