Some shared ownership homes built and purchased after 1 April 2024 are sold under a 'new model shared ownership lease'. A clunky title we know, but the changes actually come with more benefits than before and include help with repairs.
If you own a shared ownership home on either;
- Central Avenue, Northampton
- Stanley Street, Somercotes
Then you may be able to claim up to £500 a year to use towards the cost of general repairs and Futures is now responsible for external and structural repairs for the first ten years of your lease.
Requesting £500 towards repairs
- You can request up to £500 a year from Futures to cover repairing, replacing (if faulty) and maintaining fixtures and fittings that supply water, gas or electricity, such as sinks, baths and pipes, or fixtures that heat your home, such as boilers and radiators.
- You must make a request and have it approved by us before you get the repair done, as we can't accept retrospective applications unless they are done for emergency reasons.
- You can also carry the £500 a year over, to a maximum of £1,000 and only from the previous financial year.
Click here to make a request and for more details
External and structural repairs
- We're also now responsible for external and structural repairs for the first ten years of your lease - unless you're still in your 12 months defect period which is covered by the builder. Your developer should have given you a handbook with details of your defect period and warranties.
- This means that we're responsible for essential repairs to the outside of the building and essential structural repairs to walls, floors, ceiling and stairs inside your home.
