What the Government's new lease means for customers
In 2021 the Government launched a new type of lease for people purchasing shared ownership properties.
You can find out about its key features below.
Essential repairs allowance
If you've signed this lease - called 'New Model' - you can claim up to £500 each year for essential repairs to your home during the first ten years. Eligible repairs include:
- Replacing (if faulty) or repairing sinks, baths, boilers and radiators
- Fixing issues with internal pipes or drainage
- Some electrical repairs
The following will not be eligible:
- Installation of appliances, such as washing machines or ovens
- DIY or decorating
- Home improvements or refurbishments
- Routine safety checks such as boiler servicing
- Purchase or repair of furnishings
Rolling over the allowance
If you don't use the £500 set aside for your repairs each year, we'll roll it over. It can only roll over up to a maximum of £1,000 - the table below illustrates how this might work:
| Year | Repairs allowance | Repairs claimed for | Allowance carried over to next year |
| Year 1 | £500 | £0 | £500 |
| Year 2 | £1000 (£500 plus £500) | £700 | £300 |
| Year 3 | £800 (£500 plus £300) | £0 | £500 |
Please make sure that you get our permission before arranging any work. We’ll have to approve the tradesperson carrying out the repair as they'll need to be members of TrustMark.
Number of claims each year
There's no limit on the number of claims that can be made in any one year. However, you won't be able to claim for any work covered under a warranty, insurance policy or guarantee, although insurance excess may be claimed.
| The information on this page is intended as a guide only Anyone wishing to claim for a repair should first consult their lease and other documentation provided during the property purchase. If you're not sure whether your repair will be eligible for the annual allowance, or have any other questions about making a claim, please contact us before going ahead with the work. |
What repairs will Sage Homes be responsible for during this time?
If you live in a house
You'll be responsible for general maintenance, redecoration and renewal works. We'll be responsible for procuring and paying for essential repair works to the structure of the house. This includes the roof, external walls and fabric. This may also include external doors and windows (though these will mostly be covered by warranties or insurance). Please tell us about what you want to do and we'll help you check the warranties or insurance and arrange the work if necessary.
If you live in a flat
You'll be responsible for general maintenance, redecorations and renewal works inside your home. We'll be responsible for general maintenance, redecoration and renewals of the building structure and common parts. The cost of this will be paid by you through the service charge.
We'll also be responsible for paying for essential repair works to the structural parts of your home but because your home is a flat this will be limited. This may include external doors and windows (though these will mostly be covered by warranties or insurance). You have to tell us about any required work and we'll help you check the warranties or insurance and arrange the work if necessary.
How to make a claim for an essential repair
Please log into our customer portal to submit your application.
Staircasing
This lease allows you to buy a minimal 10% initial share of your newly built shared ownership home, up to a maximum of 75%. You'll have the option to buy additional shares from as little as 1% each year for the first 15 years. This resets with each subsequent leaseholder.
Like all shared owners, you can also staircase by buying larger shares. This is a more formal process and involves a surveyor's valuation and solicitors. The New Model Lease has reduced the minimum you can purchase in this way from 10% to 5%.
Length of lease
Homes purchased under the New Model Lease have a lease length term of 990 years.
Find out more
You can find out more about the New Model Lease here.
If you're not sure whether you've signed up to this lease or would like to learn more about it, please contact us.