Leaseholders and shared owners

Shared owner

Leaseholders

If you are a leaseholder, you have bought the right to live in your property for the fixed number of years detailed in your lease. The lease is a binding legal contract setting out your rights as a leaseholder and our rights as the freeholder.

We will manage the block in which you own a flat and charge you – and the other leaseholders who live there – a fair proportion of these costs through an annual service charge.

If you are a leaseholder, you should read the list of your rights and responsibilities.

Shared owners

Shared Ownership is a great way to work towards buying your own home outright. If you have regular income but cannot afford current house prices, Shared Ownership could give you a head-start. Priority is usually given to those in housing need and a local connection with the area is sometimes needed.

Under this arrangement, you buy a share of the property (usually with a mortgage) and rent the remaining share from us, paying an affordable rent to cover it. Your aim should be to gradually increase the share you own until you have bought the whole property. This is known as ‘staircasing’.

If you are already a shared owner, you should read the list of your rights and responsibilities.

If you’re interested in the opportunities of Shared Ownership, you need to register with your local Help to Buy agent. You’ll find more details about this, plus further information about what’s involved, in the section under ‘Find a home‘. We also have a useful leaflet, A guide to Shared Ownership, saved in the ‘Library’.