Buying a leasehold or shared ownership home means taking on most of the responsibility for maintaining your home. You’ve also made a commitment to make your payments on time and in full. Your lease will detail your specific rights and responsibilities.
You are expected to:
- Pay your service charges and any estate charges or reserve funds in advance
- Pay your rent on time if you live in a shared ownership home
- Comply with the terms of your lease
- Maintain and repair the interior of your home
- Pay for the cost of major works and any long-term maintenance service contracts
- Promptly report defects in new build homes during the defect period
- Allow us access if we need to survey your home.
- Explain your rent and/or service charges
- Take action if you fail to pay your rent, service charges or buildings insurance (including informing your lender if appropriate)
- Subject to your lease, set up a reserve fund to help you spread the cost of major works
- Give you notice of planned works and contact you before carrying out works for which you have to pay more than £250
- Carry out grounds maintenance and cleaning of communal areas, and for flats we will repair and keep in good condition the exterior, structure and common parts of your building
- Provide buildings insurance that covers you against fire (where appropriate)
- Explain the defect period and your rights during it, if you are buying a new build home
- Soon provide an easy way for you to manage your account online - look out for more details.