Shared ownership & leasehold services

Leaseholders

As a leaseholder you buy the right to live in a property for a fixed number of years which would be stated in the lease. The lease is a legally binding document that contains your rights and obligations as a leaseholder and our rights and obligations as the owner of the freehold.

We have a number of different leases as we provide properties on various Government sponsored low-cost home ownership schemes. All of the leases in operation have been drawn up in accordance with the HCA model lease.

New Build HomeBuy (Shared Ownership)

You can buy a home on a leasehold basis on shared ownership terms - part buy, part rent. The minimum initial share you can buy is usually 25%, and 75% is the usual maximum. You will need savings and/or be able to raise a mortgage for the share you want to buy, and you will pay rent on the share you don't own. Rents are calculated to be affordable. You will usually pay a rent of approximately 2.75% of the share you do not own.

Further shares can be purchased in most properties until the property is owned outright. It is not compulsory to purchase the remaining share. Shared Ownership is primarily designed for first-time buyers but others who cannot afford to purchase a property outright on the open market may also be eligible.