The government introduced a new shared ownership model in 2021, the first properties sold by Saxon Weald under this scheme will be available from May 2024.
The new model works in much the same way as before, but with a few changes, including:
How will staircasing in 1% increments work?
Once you’ve bought your initial share and become the shared-owner, you’ll be able to start buying more shares. You’ll have the option to do this in 1% increments each year for the first 15 years only. Larger shares will also still be available to purchase, starting at 5%. We will write to you each April and let you know how much it would cost to staircase by 1%.
How do I claim the £500 repairs allowance?
You can claim you will also be able to claim up to £500 per year towards repairing, replacing (if faulty) and maintaining fixtures and fittings that:
It does not include:
The first thing to check is if any of the warranties that we have provided to you in your Home User Guide cover the repair. If they don’t you will need to choose a Trustmark registered trader to carry out the works, you can find one on www.trustmark.org.uk.
Once the works are complete there is a claim form for you to complete together with a copy of the invoice and photos of the works. We will let you know within 7 days if your claim has been accepted.
If you would like some advice on whether the works could be covered by the allowance before you go ahead you can email [email protected].
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