Fill in this form to enquire about a repair.
A lease includes all the information on responsibilities you have as a leaseholder. For example, who is responsible for repairs, how long you have the lease for and whether you can increase your home ownership share.
The new model works in much the same way as before, but with a few changes, including:
The new lease applies to all Shared Ownership homes delivered through Homes England’s Affordable Homes Programme between 2021 and 2026.
This includes Home Ownership for people with long-term disabilities (HOLD), Older Persons Shared Ownership (OPSO), homes purchased through the Right to Shared Ownership, homes in rural locations and Designated Protected Areas.
If you are unsure if the new lease applies to your home you can contact our Leasehold team team via email helptobuy@54northhomes.co.uk. They will be able to confirm your eligibility, and what lease applies to your home.
Previously, the minimum initial share of a home you could purchase through shared ownership was 25%. This has now decreased to 10%. The intention of this reduction is to allow even more people to access affordable homeownership.
New properties have a set time period within which we as your housing provider must fix defects, both external and internal – this is usually 12 months. This is called the out of defects period.
The 12 month period starts from when the builder hands over the property to us, not from when you as a customer receive the home.
As a leaseholder, you now are entitled to a ten-year initial repairs period. This means that you can claim up to £500 per year for any essential maintenance internally to your home for the first 10 years of your lease. 54North Homes are also responsible for any external repairs.
Unlike the out of defects period, the initial repairs period starts from when your lease begins.
Repairs covered by the period include those for essential fixtures and fittings that shouldn’t be faulty in a new home.
External and Structural Repairs
During the Initial Repairs Period, 54North Homes is responsible for procuring and paying for external and structural repairs to your home as a leaseholder. These repairs would include works to:
Any works that are covered by a guarantee or warranty will be claimed for through the relevant policy by the policyholder. You as the leaseholder are responsible for notifying 54North Homes that a repair is required.
Once the Initial Repairs Period has passed and any applicable guarantee or warranties have expired, you as the leaseholder will be fully responsible for any repairs and will be liable for all costs regardless of your share in the property.
Where leases permit advance payments of service charges to fund future major repairs, these will be held in trust in something called a separate sinking fund.
A sinking fund refers to money/funds set aside over a period of time for a specific future use, in this case major repairs.
These sinking funds will be collected from the outset of a shared ownership lease for any major repairs expected from year 10 of the lease onwards, to ensure sufficient future provision for major works. Any funds collected within the first 10 years of the lease will not be used for any applicable Initial Repairs Period repairs.
Internal Repairs
As a NMSO (new model shared ownership) leaseholder you are responsible for general repairs to your home internally in the same way as any other leaseholder.
Through the Initial Repairs Period, 54North Homes will support you with the cost of unexpected essential repairs up to the value of £500 per year for the first 10 years of your lease. These are referred to in the lease as ‘Qualifying General Repairs and Maintenance Works’. This contribution is for essential repairs or replacement (if faulty) of:
Any repairs falling under the definition of Qualifying General Repairs and Maintenance Works above must be notified to and approved by 54North Homes in advance of work being carried out.
As a NMSO leaseholder you are then responsible for finding and paying contractors for any repairs, and are required to use Trustmark approved tradespersons.
Claims for reimbursement from the £500 contribution must be made to 54North Homes with evidence of the repair work and the cost. There is no limit to the number of claims that a leaseholder can make in any one year.
If you do not claim the maximum £500 contribution in any one year, the unused balance will be rolled over to the following year (making the maximum balance that could be available in any given year £1,000, assuming £500 rolled over from the previous year). No further roll over of the contribution is applicable.
If you use part of the contribution and claim for a repair that will exceed your remaining balance, you will be required to pay the remainder.
Eligibility during the Initial Repairs Period
The repair cover applies to new build (or newly converted) homes for the first 10 years of its life or until you acquire 100% ownership, whichever is sooner.
If the home is resold through the shared ownership scheme within the 10 year period, any remaining years will be transferred to the new leaseholder.
Any repair work caused by the leaseholder’s occupation or misuse of the property (including that of any tenants, visitors or others acting on the leaseholders’ behalf) will be your responsibility, even within the IRP.
For further information on the new lease repairs please contact our Leasehold team via email helptobuy@54northhomes.co.uk.
If you decide you want to increase the amount of your home that you own, you can do this through a process called staircasing.
This process already exists for shared ownership homes, but if your home applies to the new lease you can now increase your shares by a minimum of 1% for the first 15 years of your lease. You can also purchase larger shares, starting at 5%.
For more information on staircasing visit the government website or contact helptobuy@54northhomes.co.uk
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