Shared owners have purchased a share of their home and pay rent on the remaining share that belongs to Plymouth Community Homes
Shared ownership homes are leasehold properties and are sold through our sales brand SO Living.
Repairs
The repairs you are responsible for will vary depending on which type of shared ownership lease you have.
If you own a shared ownership house on the old model shared ownership lease, you are responsible for repairs and maintenance inside and outside.
If you own a shared ownership flat on the old model shared ownership lease, you are responsible for the inside of your home and anything additional listed in your lease (for example, windows and doors). You may need to contribute towards the building and grounds via your service charge.
If you own a shared ownership house on the new model shared ownership lease, your property will come with a 10 year initial repair period, except if you purchased at home at Hillcrest in Plympton. This applies whilst you own less than 100% share in the home. During this time, you will be able to claim costs up to £500 a year from PCH to help with qualifying essential repairs. If the repair can be claimed through product warranties, building insurance or builder warranty, you will be required to do so.
You will have two options when making a claim; you can use a PCH tradesperson or a TrustMark approved tradesperson. We will require you to provide information to us so that we can decide if the claim can be approved or denied. If you choose to use a TrustMark tradesperson, then you will be required to provide additional information to support the claim.
If you do not claim any costs in a year, £500 can be rolled over by one year only. This means the maximum allowance you can have in a year is £1,000. See the below table for a breakdown:
If you own a shared ownership flat on the new model shared ownership lease, your property will also come with a 10 year initial repair period as outlined above.
If you purchase a resale home with this new model shared ownership lease you will acquire the remainder of the initial repair period. This period does not start again.
Defects period
The term ‘defect’ refers to a deficiency in the construction process, including design, materials, or workmanship, which leads to a failure in some aspect of the structure being built and that causes damage to a person or property. It’s normal to have a few minor defects when you first move in.
Defects will usually be covered for 12 months during which the builder is responsible for rectifying defective works. This period starts from when the property was handed over from the developer to PCH, and not from when you moved in.
If a defect occurs within the first 12 months of the property being handed over to PCH, the developer is required to rectify these defects. Please keep a list of minor issues as these will be dealt with at the end of defect period. Please report any significant defects to us by calling us on 0808 230 6500.
The houses are also covered by a building insurance warranty. This provides protection if you need to make a claim for any major defects that might have occurred in your home. Information regarding your warranty can be found on your warranty provider’s website:
More information on who your warranty provider is can be found on your completion paperwork. If you need to make a claim, call us on 0808 230 6500.
Buildings insurance
Plymouth Community Homes (PCH) has arranged an insurance policy to cover all of its shared ownership properties.
Building insurance claims should be reported to the Leasehold Team in the first instance. There may be an excess payment for building insurance claims and you may be responsible for paying this, depending on your lease.
Shared owners need to arrange contents insurance separately.
Home improvements and alterations
If you would like to make an alteration to your property you may need to obtain PCH permission. Refer to our Alterations Policy for more information.
You can apply for permission to make alterations by logging into your MyPCH account. Alternatively, you will need to complete the advance consent form and email it to lease.hold@plymouthcommunityhomes.co.uk.
You may also need to get permission from your mortgage lender and obtain legal consent (planning permission and building regulations) depending on the alterations you want to make.
We advise that you wait for your defects period to end before making any alterations to your property so that you don’t void the warranty. Similarly, developers recommend not decorating new-build homes in the first year.
Service charges and rent
As a shared owner, you pay rent to us on the share that you do not own. There are limits on the amount of rent we can charge. We review the rent charges annually and notify you of any changes.
You will also be required to pay a service charge. Your service charge includes your building insurance and a contribution towards the management and maintenance of the estate.
If you have a query about your service charge or rent, contact our Income Recovery and Financial Inclusion team through your MyPCH account or call them on 0800 028 0350.
FAQs
What are the shared owners responsibilities?
- To pay rent on the share of your property owned by PCH and pay your service charges
- To keep the property in good condition and cover the costs of any repairs and maintenance (depending on your lease) regardless of the share you own
- Annually service your boiler by an engineer on the Gas Safe Register
- Obtain written consent from PCH for any alterations in line with our policy
- Not to use the premises for any illegal or immoral purpose
- Not to do anything which may be a nuisance, annoyance or cause damage or inconvenience to either PCH or any other resident
- To observe all the terms and regulations set out in the lease.
What are the landlords (Plymouth Community Homes) responsibilities?
- To maintain and repair the exterior, structure and common parts of the building (flats only)
- To keep the building insured to the full cost of re-instatement (this is for buildings only and does not cover contents; shared owners will need to arrange contents insurance separately)
- To keep proper accounts of all costs and expenses incurred in carrying out its obligations
- To manage the block and estate in a reasonable manner.
Can I keep a pet?
If you would like to keep a pet in your shared ownership home, you'll need to get permission from the Leasehold team.
You can also find more information on having pets here.
Can I sublet my home?
No, your lease states that you cannot sublet your home, however PCH may agree to sub-letting arrangements in exceptional circumstances with requests to be considered on a case-by-case basis. For more information contact the Leasehold Team.
Your shared ownership lease does not prohibit you from taking in a paying guest or lodger.
What happens if I fall behind on my rent or service charges?
Under the terms of your lease you are legally obliged to pay the rent and service charge.
If you have a financial problem, contact our Income Recovery and Financial Inclusion team through your MyPCH account or call them on 0800 028 0350.
Can I re-mortgage my home?
If your fixed term deal on your mortgage has ended, you may wish to apply for a new mortgage deal, known as re-mortgaging. If you want to re-mortgage your home your new mortgage will need to be approved by our Leasehold Team.
We will only be able to approve extra borrowing for specific circumstances such as buying out another leaseholder, staircasing and complying with covenants within the lease. We will not be able approve extra borrowing for purposes including debt consolidation.
Read our Privacy Notice.
How can I sell my shared ownership home?
Selling your shared ownership home is known as a resale.
If you want to sell your shared ownership home which you purchased through PCH, you must advise us in writing that your intention is to sell your property.
A valuation must be carried out by an independent RICS qualified surveyor to determine the current open market value of your property. We will then use this valuation to market your property.
What is staircasing?
Staircasing is a process where you can buy more shares in your property. The greater the share purchased, the less rent payable to Plymouth Community Homes.
What is transfer of equity?
Transfer of equity is a term that refers to changing the ownership of the property. This could mean any of the following
- Adding an additional person to the ownership of the property
- Removing a person from the joint ownership of the property
- Removing a person and adding a new person at the same time
This is different to a resale, as one of the original owners will still stay on the legal deeds of the property.
Read our Privacy Notice.
