Information for Shared Owners

Shared owners have purchased a share of their home and pay rent on the remaining share that belongs to Teign Housing.

If you are a shared owner, we are here to help you understand your rights and responsibilities and your relationship with Teign Housing. When you bought your home, you signed a lease agreement. This legal document between us explains our responsibilities and what we can expect from one another.

This page includes information about managing your lease during your time with us.

Our shared ownership leaflet provides a brief outline of how shared ownership works. It can be found on our What is Shared Ownership page.

If you are interested in buying a new build shared ownership home from us, please visit our What is Shared Ownership page.

Service charges are paid for by most tenants, leaseholders, shared owners, and some freeholders. They pay for additional services and day-to-day running costs that are provided in communal areas and shared with your neighbours.

Information on service charges can be found on the Service Charge page.

Under the terms of your lease, you are responsible for repairs and maintenance inside and outside, including the structure.

For flats, you are responsible for the inside of your home, and we are responsible for maintaining the building and any communal areas not managed by the estate management company. You will pay for any repairs or maintenance to these areas within your service charges.

On our new build shared ownership properties, we are now starting to grant some leases under the Affordable Housing Programme (AHP) 2021 – 2026. These leases also provide that:

  • Your home will come with a 10-year initial repair period. This applies whilst you own less than 100% share in the home. During this time, you will be able to claim up to £500 a year from us to help with the qualified essential repair costs. If the repair can be claimed through product warranties, building insurance or builder warranty, you will be required to do so.
  • When making a claim, you will be required to provide two quotes from a Trustmark approved tradesperson to undertake the work and any evidence of the work required as necessary.
  • If you do not claim any cost in a year, £500 can be rolled over by one year only. This means the maximum allowance you can claim in a year is £1,000. See the table below for a breakdown:
  • For flats, your home will also come with a 10-year initial repair period as outlined above. You are responsible for the inside of your home, and we are responsible for maintaining the building. You will pay for any repairs or maintenance to these areas within your service charges.
  • If you purchase a resale home, you will acquire the remainder of the initial repair period. This period does not start again.

Please contact the Legal Team at legal@teignhousing.co.uk for further information on the repair responsibilities contained in your lease.

Structural alterations and additions are usually prohibited under the terms of your lease.  Please check your lease and/or email the Legal Team at legal@teignhousing.co.uk for more specific information on the terms of your lease.

If you would like to make a non-structural alteration to your home, please contact us so we can check whether our written consent is required before you start the work.  You can submit a request for consent by emailing the details to the Customer First Team at Customerhub@teignhousing.co.uk.

Gas safety information for shared owners can be found on the Heating and Gas page.

We are responsible for arranging building insurance for all our homes, including shared ownership, covering the property’s structure. You will need to arrange insurance for the contents within your home, as building insurance does not cover this.

You can view the Buildings Insurance and details on how to make a claim on the Insurance page

Please contact our Legal Team at legal@teignhousing.co.uk if you wish to sell your share of the property, and we will advise you of the correct procedure.

Your home will need to be valued by an independent RICS qualified valuer to establish the market value. Please be aware that you will need to pay the valuer’s fee.

Once we receive notice of your intention to sell your home and your property valuation, we will advertise your home on the Share to Buy website to find a buyer. We usually have a nomination period of 8 weeks to nominate a buyer for your home; please check your lease for the exact nomination period. We will charge an administration/nomination fee in accordance with the terms of your lease.

If we have not been able to nominate a buyer within the nomination period, you can continue to advertise the property with Share to Buy, or you can sell your share on the open market at the agreed valuation price. You will be responsible for paying any estate agent fees.

When your remortgage has completed, your Solicitor will send us a Notice of Mortgage. Our administration fee for dealing with the Notice of Mortgage is £90.00 (£75 plus VAT).  Please contact the Legal Team at legal@teignhousing.co.uk for further information and to arrange payment of the Notice fee.

This is the process of buying more shares in your home.  Please contact our Legal Team at legal@teignhousing.co.uk and we will advise you of the correct procedure.

Your home will need to be valued by an independent RICS qualified valuer to establish the purchase price of the additional shares. Please be aware that you will need to pay the valuer’s fee.

This is a process where shared owners can apply to extend the number of years left on their lease. This may be required for sale or mortgage purposes if the lease has a term remaining of less than 80 years.  A consideration is payable to purchase the additional years, and a valuation from a RICS qualified valuer will determine this. Please be aware that you will need to pay the valuer’s fee.

Please contact the Legal Team at legal@teignhousing.co.uk for more information on lease extension and how to apply.

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