Home Ownership

Leasehold

Shared ownership is a government scheme provided by housing associations across the country to help people who want to get on the property ladder, but aren’t ready to pay for their home outright. It gives you the opportunity to buy a share between 25% and 75% and just pay rent on the remaining share.

You’ll need to meet certain criteria to buy a home on a shared ownership basis, visit our homes for sale page or read our guide to shared ownership to find out more about whether you are able to apply. You’ll also need to think about whether you need a mortgage to pay for the share you wish to purchase in your home.

  • What does being a leaseholder involve?

    Shared Ownership homes are always leasehold, this basically means that you have the right to occupy a property for a set period of time – the length of the lease which can be up to 999 years – but do not own the building itself.

    Houses
    If you buy a house then your lease will be classed as ‘full repairing’. This means that you are responsible for all repairs and maintenance to your home both inside and outside.

    Apartments
    If you buy an apartment then you will have to pay a service charge to cover the cost of the services provided to your block or scheme such as grounds maintenance and cleaning of communal areas. The responsibility for any internal repairs will be yours but we will maintain the structure and common parts of the block. The costs of any outdoor repairs will then be included within your general service charges.

  • Your agreement

    If you need help at any time understanding the terms of your lease, we’re on hand to help.  Your lease is the legal contract which sets out your legal rights and responsibilities and our legal rights and responsibilities too.

    Please see the attached handbook which is aimed to help you understand your rights and responsibility, and our rights and responsibilities to you.  Please note that this handbook is a guide and does not replace your lease, which is the legal contract you occupy under.

    We will always tell you if you break the conditions of your tenancy and try to help you to keep to your tenancy conditions. However, if the problem continues, you risk losing your home as we may be forced to take legal action to end your tenancy. 

    If you have any questions relating to your tenancy agreement, you should contact us.

  • Becoming a Freeholder

    When you purchase all the additional shares in your property (known as staircasing out), you may become a freeholder which means you will have total ownership of your home and the land it sits on (this is more common in a house than an apartment).

    However, some properties will always be leasehold, this most often applies to apartments or where the freehold is owned by a local authority that is not prepared to sell the land.

     

  • Lease Extensions

    You may find you wish to extend the lease of your property, if you do, please visit our lease extension page to find out more about your options, rights and costs.

  • Resales

    Thinking of selling?

    If you are thinking about selling your property you’ll need to get in touch with us and let us know. We can then send you a re-sales pack which has lots of helpful information on selling your shared ownership property.

    You will have the option of selling just your share or you can also sell the whole of the property – both of these routes are explained in more detail in the re-sales pack.

    Once we have received your signed Re-Sales Form and fee we can get all the relevant information across to your estate agent. This process prevents any delays with the sale of your property and gives your estate agent all the information they need to sell a shared ownership property.  

    For more information, visit our re-sales page.

  • Staircasing

    If you’re going to become a Shared Owner, ‘staircasing’ is a term that you’ll hear quite a lot. It’s an option you can choose which involves buying some or all of the remaining shares in your property.  Buying all of the remaining shares is known as ‘staircasing out’ and buying just some of the shares is known as ‘partial staircasing’.

    If you're interested in learning more please visit our staircasing information page.

     

  • Leaseholder insurance information

    You can view our leaseholder insurance policy information by selecting the document below.

    Leaseholder Insurance policy

 

Right to Buy

The Government has appointed Move with Us as agents to provide free and independent advice on the Right to Buy. Their Right to Buy Agents can help with questions regarding eligibility, filling out your application form, where you can get financial and legal advice and what to do if your application is delayed.

They can also send you information packs and application forms. They can be contacted on 0300 123 0913 or you can check eligibility on their website. You can also email enquiry@righttobuyagent.org.uk.

If you think you are eligible and feel ready to apply for the Right to Buy, you need to fill out the Right to Buy form 

Do I have the Right to Buy?
Do I have the Right to Acquire?

Some secure tenants of local authorities have the Right to Buy (RTB) their homes at a discount. If we take over any properties where a customer has the RTB at the time of transfer then the customer brings this right with them, which is known as Preserved Right to Buy (PRTB).

The PRTB applies to rented properties for secure customers from a non charitable organisation. If you can answer ‘yes’ to the questions below then you may be able to purchase your home through this scheme:

  • Was your property originally owned by a local authority and transferred to us or another organisation while you were a secure tenant?
  • Do you have a Secure (not Assured) Tenancy?
  • Is the property your only or principal home?
  • Do you have a minimum of 3 years as a secure tenant (this does not have to be with the same Housing Association and can include time spent as a secure tenant of a local authority and the Armed Forces)?

You will be unable to proceed with the purchase if any of the below apply to you:

  • You have been bankrupt, have an IVA or debt order
  • You have any outstanding possession orders
  • Your property is particularly suitable for the elderly or disabled
  • Your property is due for demolition

The Right to Acquire (RTA) applies to properties which we received funding for and were built after 1997.

To qualify for the RTA your situation will need to match the following.

  • Your tenancy must be secure or assured.
  • Your property must have been built or purchased on or after 1 April 1997.
  • Your property must have been built using funding (known as a Social Housing Grant) provided by the housing corporation or local authority. This would need to be confirmed by ourselves.
  • The property must be your only or principal home.

You will be unable to proceed with the purchase if any of the below apply to you.

  • You have been bankrupt, have an IVA or debt order
  • You have any outstanding possession orders
  • Your property is particularly suitable for the elderly or disabled
  • Your property is due for demolition