The new model shared ownership lease gives you £500 per year to use towards the cost of general repairs. You’re still responsible for getting these repairs done to your home but you’re able to make a claim for up to £500 towards the cost of your repairs.

You can also carry over any balance remaining up to a maximum of £500 per year.  

It also means that the landlord is responsible for external and structural repairs for the first 10 years of the lease

Important note: these repairs will be covered by the developer during your defects period, usually 12 months after the build is completed.

Other differences to the new model shared ownership lease let you:

• Staircase in 1% tranches for the first 15 years of the lease
• Staircase in 5% increments (it was previously 10%)
• Buy a minimum stake of just 10% (previously 25%)
• Have a term of at least 990 years on the new lease

You’re responsible for general repairs to your home however, you are entitled to a £500 per year allowance towards those costs. You can see what you can use your allowance against by clicking here.

To make a claim for the cost of your repairs you must get pre-approval from us before you get the work done. We will only consider retrospective claims where work has been done in an emergency.

Click here to see items covered under the £500 guarantee (please note, servicing is not included).

You can fill out the form at the bottom of this page to register your claim for approval.

Once we receive your claim, we’ll check through all the information you give us.  We may need to ask you for more information to review your claim. Once we’ve approved or refused your claim internally, we’ll confirm the decision with you. If you claim is refused, you’ll have the opportunity to have this reviewed.

If your claim is accepted, then we’ll let you know and confirm the remaining balance of your allowance. We’ll also ask you for important information about the evidence you’ll need to send us after the work is completed. 

If you’re in arrears we may apply the credit for your repair to your rent account, rather than make the payment directly to you.  We’ll let you know when we process your claim if we’re going to do it this way. 

We’ll review your claim and let you know if we need any more information

We’ll acknowledge your claim and let you know within 4 working days if it’s been accepted. We’ll make sure any accepted claims are paid within 14 days.

Yes, it is possible that your claim could be refused and below are some common reasons why:

1. The repair is not covered by the scheme. The allowance only applies to services and heating, other elements would not be covered by the allowance but could still be covered by guarantees or warranties from the developer.
2. The repair is not going to be completed by a company registered with Trustmark
3. The component has not been routinely serviced/maintained with evidence to support this.
4. The repair has been caused deliberately through an act or omission.
5. Information requested (to process the claim) has not been provided.