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Top 10 facts about shared ownership

Buying a new home is a very exciting prospect and we are here to help you through the various stages of the process. You should ask your solicitor to explain the terms of your lease before you sign. But, to help you, we’ve put together a list of useful info.

1. Pet policy

You will need written consent if you intend to own any type of pet.

If you already have a pet, or are thinking of getting one after you move in, it is important that you let us know straight away. We can advise you and help you to get the necessary written consent before you purchase a home.

2. Running a business

Running a trade or business from the property is generally not permitted. 

If you are intending to run a trade or business from your new home, either now or in the future, please discuss this with us before making your decision to purchase a home.

3. Subletting

You cannot sublet a shared-ownership property.

When you sign the 'New-build shared-ownership lease' you agree that this property is your only home. Will only allow you to sublet all, or part of, your new home in very exceptional circumstances. If your circumstances change and you no longer wish to live in the property, please contact the leasehold team.

4. Parking

Most of our properties are offered with at least one parking space.

We will advise you on each property. If car parking is allocated on a needs basis, you will need to get a car-parking licence. We will explain the details of this to you. As our properties are residential, the use of these parking spaces is restricted to cars, motorcycles and light vans.

5. Flooring

Laminate flooring is not generally permitted.

Our properties are built to building regulations standards and sound insulation forms a key part of this. To ensure that our residents achieve quiet enjoyment of their new homes, particularly in apartments, our 'New-build homebuy lease' normally requires carpets to be laid to all floors with the exception of the bathroom and kitchen.

6. Maintenance, repairs and service charges

If you are buying a house, you will be responsible for the decoration, maintenance and any repairs required to your home both internally and externally.

If you are buying an apartment, you will normally be responsible for internal maintenance.

The exterior of your building and any communal areas are usually maintained by us or a separate management company. You pay a (monthly) service charge to cover these costs.

The level of services provided for each home can vary so it is important that you ask your solicitor to explain what will be your responsibility under the terms of your lease. For example, some leases may require you to clean your windows regularly.

We prepare an estimated service charge each year. As it is not always possible to accurately predict the exact charge of providing services, the charge may be higher or lower than that original estimate. If over a 12-month period the cost of providing these services differed, you will either receive a refund of overpayment or an invoice for underpayment. You should also bear in mind that the cost of providing services is likely to increase each year.

The level of equity you own in your home does not affect the level of service charge you pay. The service charge remains payable even if you purchase your home outright in the future.

7. Making changes to your home

If you intend to make any significant alterations to your home, it is important that you get our written consent first.

If in the future you decide to buy more equity, we want to make sure that the price you pay for any additional equity does not take into account any alterations or improvements you have made.

As you will have paid for these alterations or improvements, we want to make sure that you benefit solely from any added value as a result (if any). So it is essential that you get our approval so that if you decide to buy more equity in your home, any improvements made can be disregarded when assessing its value. We are only able to do this if we have given written approval before the alterations are carried out.

The new-build shared-ownership lease does not allow you to make any changes to the exterior of the building. This includes putting up aerials and satellite dishes. If, for example, you want to add conservatory, or make any other improvements or external alterations, you must get  our written consent  to make sure that any existing planning conditions are not breached.

If you have a garden, the terms of your lease requires that you keep this clear and tidy.

8. Buying more shares and the selling process

You can buy more shares in your home at any time.

This is known as ‘staircasing’. You must purchase shares in increments of at least 10%. As you increase your share your rent will be reduced. In most cases you can staircase until you own your home outright, when you will not pay any rent.

If you wish to sell your home, you should contact us first.

Your lease gives us the right (for a limited period) to find a buyer for your home. This is to make sure that your property is firstly made available to others who cannot afford to purchase a property outright. We charge a fee for finding a buyer for your home, but this is generally much less than you would pay an estate agent.

9. Access to your home

There are circumstances where we may need to enter your home.

We respect your right to quiet enjoyment of your home and the circumstances under which we might need access to your home are rare. If we do need access, we will always arrange this with you in advance.

10. Noise and nuisance

Please check your lease for your responsibilities with regard to noise and nuisance.

We want to make sure that everyone enjoys quiet enjoyment of their homes. Your lease contains a clause setting out your responsibilities about noise. This also applies to any family or visitors to your home.

Good to know…

You will own your property through a new-build shared-ownership lease. This document sets out both your responsibility as a homeowner and our responsibility as the freeholder or head lessee.

Our staff are here to help you buy your new home and with any questions you may have after you move in. Please get in touch if you need any help or advice.

Before you move into your new home phone our Sales team on 01932 235801.

Once you have moved into your new home phone our Customer Advice Team on

0300 123 2221.