Rent & Mortgage Payments for Shared Owners
We will tell you the initial rent for the share that you have not bought before you complete the purchase.
Your lease will set out the basis on which we assess the rent and the method by which we will calculate any future increases.
We will inform you in writing of any proposed changes to your service charge before the change comes into effect.
Shared-ownership rent arrears
We want to make it as easy as possible for you to pay your rent to avoid you getting into debt; and, if you get into arrears, to get the help you need to pay them off as soon as possible.
This section covers the following questions:
When and how can I pay my rent and
Can I get help to pay rent and other charges?
Can I get help with debt counselling?
When should I pay my rent (and other charges)?
Your rent is payable weekly in advance and is due each Monday. It must be credited to your account no later than Sunday of that week.
If you are making a cash payment, you need to allow 4 working days for the payment to reach your account.
Four weeks’ rent is due every month. Each year there are a few rent-free weeks.
give you details of the rent-free weeks during the year in the leaflet we send you when informing you of any changes in your rent or service charges
include the rent-free week dates on our website
supply a copy of the rent-free week calendar within 1 working day if you ask us for another copy.
If you have fallen slightly behind with your rent payments (and we strongly recommend that you don’t), these rent-free weeks are a great opportunity to catch up.
Please select this link for advice on help with paying your rent (and other charges)
Please select this link for advice about debt counselling