Information for Leaseholders
Buying through Shared Ownership with Peabody will make you an owner-occupier and Leaseholder. Being a leaseholder means you will usually have a lease for a set number of years and pay for things like ground rent and service charges. Below we have compiled useful information and services related to Peabody leaseholders.
Staircasing
The process of buying more shares for a Shared Ownership home is reffered to as staircasing. If you staircase to 100% you will become an outright owner.
Selling your home
Selling your Shared Ownership home is a straightforward process and is known as a resale. You can sell your Shared Ownership home at any time.
Lease and lease extensions
When purchasing a property, you will sign a lease which states your rights and responsibilities as a leaseholder. You can also request to extend your lease.
Remortgaging
Remortgaging occurs when you move from your existing mortgage lender to another lender. We can help guide you through remortgaging your home
Right to Buy
If you are giving up an assured or secure tenancy, we consider you a priority for affordable home ownership.
Service Charge
Service charge covers the cost of maintaining communal areas and any building insurance or major works. Find out more about service charges.
Warranties
All new build Peabody New Homes properties come with a warranty. Find out about warranties for our new build homes.
List of Financial Advisors & Solicitors
Find a list of our trusted panel of financial advisors, surveyors and solicitors who can help guide you through your buying or selling process.
Find your dream home
We believe homes are far more than just places to live. Our developments are designed to enhance their surroundings and create strong communities that enhance your quality of life.