Shared Owners

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A summary of the main rights and responsibilities for shared owners

Repairs  

Q Am I responsible for the repairs at my home?

A The resident is normally responsible for carrying out all repairs to their own property. The onlyexceptions to this are for new properties built by the Association which are still covered by the builder's guarantee (usually 6 or 12 months). Also owners living in blocks of flats will contribute to a separate fund for long-term repairs to their roof, doors, windows and external painting.

Insurance

Q Am I required to take out a property insurance policy?

A No. The Association has a block insurance on all our properties. However, we strongly advise that residents take out insurance on their contents. We would ask you to bear in mind that there is a £100 excess on any claim on our policy.

Making a claim

Q How do I make a claim for a repair covered by the insurance policy?

A You should contact a member of the Plumlife staff at Southern Gate as soon as possible and obtain two estimates for the work involved. Please do not authorise a contractor to proceed without speaking to Plumlife staff first. Usually the resident pays the contractor for the work when this has been satisfactorily completed. We will then submit a claim to the insurer on your behalf. A cheque will subsequently be paid to the resident to cover the repair costs, less the £100 excess.

Q What if the repair is very expensive?

A In certain circumstances we can arrange for the contractor to be paid directly by our insurers. In this case, the resident would have to pay £100 to the contractor to meet the shortfall because of the insurance excess.

Rent / Service Charge

Q How do I make my monthly payments to the Association?

A Upon purchase of your property you will be sent a Direct Debit Mandate, which should be completed and returned to Plumlife immediately. However, if you wish to pay by cheque these can be forwarded to our offices at Southern Gate made payable to ‘Plumlife’. Please ensure your full name and address is on the reverse of your cheque.

Q What does my monthly rent actually pay for?

A Rent is used to service the loan which the Association has taken out to buy the remaining percentage of the property (usually 50%). It also includes an element for insurance and our management charges.

Purchasing a larger share (staircasing)

Q Can I purchase a larger percentage of my property?

A Yes, normally you may purchase in 25% stages (see your individual lease for confirmation) providing you are able to do this with either a cash payment or an addition to your mortgage. Please find more information in the staircasing section of the website or contact Plumlife for further details. (Please note that some leases have restrictions on staircasing - refer to your lease for full details)

Selling your property

Q What happens if I want to sell my property?

A You can either sell your existing percentage or the full 100%. You must inform Plumlife in writing of your intention to sell, together with details of the solicitor you will be using. Please find more information in the section on selling your home or contact Plumlife for further details.