Shared Ownership

Your lease explains your rights and responsibilities — and how we work together to manage your home fairly and transparently.

Your lease is a legal agreement between you and Lace Housing. It sets out how your home is managed — including repairs, service charges and resale arrangements.

If you’re ever unsure about any term, our Housing Team can explain it in plain English.

See also: Leaseholder Handbook 2025 or ask a member of our team for your scheme’s Leasehold Information Factsheet.

Most Lace homes follow the Older Persons Shared Ownership model. You can buy up to 75% of your home and pay no rent on the rest. Some schemes, such as some apartments at Olsen Court Phase 3, allow ownership up to 95%.

You look after the inside of your home — fixtures, fittings, plumbing, and decoration — while we maintain the structure and communal areas (unless you live in a bungalow).

You should also arrange an annual gas service and an electrical inspection (EICR) every five years.

These checks reduce risks from fire, gas leaks or electrical faults.

If you prefer, we can arrange these for you through approved contractors — you simply pay them directly.

If a repair affects neighbouring homes or the wider building, please let us know straight away so we can act quickly.

Visit Repairs and Maintenance and Customer Service Standards.

You can decorate freely but please use appropriate flooring and avoid anything that could cause noise disturbance.

You’ll need written permission for major changes such as kitchens, bathrooms, or windows. We’ll always consider requests fairly and guide you through what’s needed.

People: We explain everything clearly and support your independence.

Places: We help you make confident choices about your home.

Partnerships: We work alongside you to keep your home well managed.

We make costs simple to understand, helping you plan ahead with confidence and trust in how your money is used.

Your service charge covers shared costs such as cleaning, gardening, safety checks, insurance and communal maintenance.

We send an annual estimate in March and a final statement by September, explaining every item in detail.

A sinking fund spreads the cost of major repairs —such as roofs, lifts or door-entry systems — so you pay a little each year instead of large, one-off bills.

We insure the building and shared areas; you’re responsible for your contents insurance.

Please ask a member of our team for your scheme’s Insurance Factsheet.

If major works cost over £250 per home, we’ll consult leaseholders under Section 20 of the Landlord and Tenant Act 1985.

You’ll receive notice, cost breakdowns, and the chance to comment or nominate contractors.

People: We keep costs clear and predictable.

Places: We maintain quality and safety through careful planning.

Partnerships: We share information openly so you can make informed choices.

Whether you’re selling or temporarily away, we’ll help you manage your home fairly, safely, and in line with your lease.

If you’d like to sell, please contact us first. We’ll ask you to arrange an independent RICS valuation and offer your home to eligible buyers on our waiting list before open marketing.

If no buyer is found, you may sell on the open market, but the purchaser must meet the same age and eligibility criteria.

Subletting isn’t normally allowed under the Older Person Shared Ownership lease. These homes are intended for older people living independently and safely.

If you’re temporarily away - for example, in hospital or caring for someone - please contact us.

Unauthorised subletting breaches your lease and could lead to legal action.

Read more in our Subletting and Buy-Back Factsheet.

If you have not purchased the maximum share, you may “staircase” to buy more equity.

You can also extend your lease — we’ll guide you through valuations, legal steps and current legislation.

Lease-extension law is expected to change soon to make the process simpler; we’ll update residents when this happens.

Read our Lease Extension Factsheet or visit www.lease-advice.org for independent guidance.

Sale prices are based on an independent RICS valuation. We’ll explain all costs clearly before you proceed so there are no surprises.

People: We offer honest advice every step of the way.

Places: We make selling or moving simple and transparent.

Partnerships: We work with valuers and legal partners to protect your interests.

We maintain shared spaces, keep buildings safe, and encourage leaseholders to play an active part in community life.

We carry out regular fire, electrical and building-safety checks and act on Fire Risk Assessment recommendations for communal living schemes. Specialist fire-stopping and external-wall surveys are completed where needed, with updates shared through scheme meetings and publications.

See our Safety in Communal Areas Factsheet and Resident Safety pages.

You’re responsible for internal maintenance such as plumbing and appliances.

We handle external and communal repairs — please report any issues quickly.

If you prefer, you can use our approved contractors for your own internal work.

We hold annual leaseholder meetings to discuss service charges, planned works, and improvement priorities.

Leaseholders are encouraged to attend wider scheme meetings, engagement sessions and policy cafés.

Your feedback shapes how we manage homes and invest in communities.

Learn more on our Resident Involvement page.

For queries about your lease, service charge, or repairs, contact: 01522 514444 housing@lacehousing.org or repairs@lacehousing.org

People: We help leaseholders live independently with peace of mind.

Places: We maintain homes that are safe, modern, and well cared-for.

Partnerships: We listen, learn, and plan improvements together.