Shared Ownership & Rent

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If you have bought a 100% share and own your home outright, you will no longer pay Shared Ownership Rent.

If your home is a flat you may still have a nominal rent to pay. You will also have to continue to pay for any maintenance charge or for services carried out by your Housing Association to the communal parts of the block of flats. Your flat will remain Leasehold for the same Term as your original Shared Ownership lease.

If your home is a house you can ask your Housing Association to transfer the Freehold of your home to you. Once this happens you are free to arrange your own buildings insurance (subject to your lender being happy with this if you have a mortgage) and carry out your own repairs and improvements to your home. You may still have to pay a service charge or estate management charge if you live on an estate where there are communal areas or gardens and where everyone on the estate is responsible for communal costs.

Co-op Legal Services has a range of partners of specialist Conveyancing Solicitors and Conveyancers who are experts in shared ownership leases. They can guide you through the process and give you clear and simple explanations of what is involved.

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Co-op Legal Services has offices in Manchester, Bristol and London.