If you live in a shared ownership home, you can find out more about how your rent is calculated below.
Where does my rent go?
Your rent covers the costs of repaying money we have borrowed to buy or build your home, salaries, investment for future homes and providing services.
How do we calculate shared ownership rents?
Rent for shared ownership properties is calculated based on a formula which you will find in your lease.
The exact formula can vary depending on the specific details of your lease, so please refer to your own lease document for further information.
Increases to shared ownership rents are usually based on a combination of the Retail Price Index (RPI) and a percentage detailed in your lease. Please see your lease for further details.
When do we calculate shared ownership rents?
Depending on your lease, your rent is typically reviewed either on 1 April or 1 October. Some leases provide a rent review every two years. Please see your lease for further details.
How much notice will we give you of any rent changes?
We will give you at least one months’ notice of any change to your rent.
Will I need to change my direct debit?
No. If you pay your rent by direct debit, we will arrange for the amount to be changed accordingly.