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 a group of useful informational pages for 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 you 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.

Warranties

All new build Peabody properties come with a warranty, usually for one year. Find out about warranties for our new build homes.

Service Charges

Service charge covers the cost of maintaining communal areas and any building insurance or major works. Find out more about service charges.