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Home Ownership

This section of the website is for those who are interested in home ownership and those that have already purchased.

There are two types of home ownership that this section deals with:

  • Shared ownership leaseholders
  • Right to Buy or Right to Acquire leaseholders

Shared ownership leaseholders

Shared ownership allows you to purchase a percentage of the property, allowing you to buy as much of a house as you can afford, between 25-75%, and pay rent on the remaining percentage of the property. Shared ownership is part of the affordable housing scheme that is designed to help people get onto the housing market. If at a later point you can afford to, you can buy more of your property, this is known as staircasing. If you are a shared owner in a house you may be able to acquire the freehold to your property. If you are a shared owner in a flat you will become a long term leaseholder.

Right to Buy or Right to Acquire leaseholders

Right to buy and right to acquire are other types of affordable housing schemes. These offer public sector tenants the opportunity to purchase their property at a discount based off the number of years they have been a tenant in the public sector. The main difference in the two is who owns the property that you are living in. If it is a housing association property you will only be eligible for right to acquire and if you are living in a council property you are only eligible for right to buy. For more details about right to buy or right to acquire please see the relevant section below.

Please find lots of useful information for home owners in our handbook's here or below.

 For more information please see the below tabs and at the bottom of the site are some handbooks loaded with useful information regarding the different types of homes ownership with Stockport Homes.

  • Useful contacts for Stockport Homes services

    Anti-Social Behaviour

    Please report any ASB issues online.

    https://www.stockporthomes.org/asbc

    In an emergency contact the police by ringing 999. The non-emergency police number is 101.

    Tel: 0161 217 6016

    Neighbourhood Management

    For home owners with any queries or feedback on the standard of services they are receiving as well as any issues about any communal areas or neighbourhood management issues. This team can also help with requests for new keys / fobs.

    Email: neighbourhoods@stockporthomes.org

    Tel: 0161 217 6016 Press 4 for Neighbourhoods (then 1 for ASB, 2 for Housing Officer appointments, 3 for other tenancy / neighbourhood issues and 4 for myonline queries

    Buildings Insurance

    Any queries about your insurance or to make a claim please contact our insurance broker direct advising that you are a Stockport Homes leaseholder.

    Tel: 01245 341 200 (Arthur J Gallagher Insurance Brokers Limited)

    Customer Finance Team

    Please contact the Customer Finance Team if you want to make a payment, make an arrangement to pay, change direct debit details or let us know if you are struggling to pay your rent and/or service charges.

    Email: customerfinance@stockporthomes.org

    Tel: 0161 217 6016 Press 3 for Customer Finance (then 1 for payments, 2 for balance enquiries, 3 for rent account, 4 for money advice and 5 for owner accounts)

    Caretaking and Concierge

    For more information and service standards please visit the caretaking and concierge web pages.

    www.stockporthomes.org/my-home/my-tenancy/caretaking

    www.stockporthomes.org/my-home/my-tenancy/concierge

    Tel: 0161 217 6016

    Grounds Maintenance

    Email: greenspace@stockporthomes.org

    Tel: 0161 217 6016

    Repairs and maintenance

    To report a repair in communal areas of the development or request a quote for any repairs within your home please report your repair online.

    To query repairs that you have been charged for please email housingrepairs@stockporthomes.org

    Tel: 0161 217 6016 Press 1 for Repairs (then 1 for change an appointment, 2 for heating and hot water, 3 for new repairs and 4 for existing repairs).

    Private Lettings Service

    Email shl.lettings@stockporthomes.org

    Tel 0161 474 2696

    Accessing our services

    If you would like a copy in large print, Braille, on audio tape or CD, please contact the Social Inclusion Team on 0161 474 2860 or email: inclusion@stockporthomes.org

  • Rights and responsibilities

    Your responsibilities

    Your lease will tell you exactly what conditions you’ve agreed to. In general you have a responsibility under the lease to:

    • Pay ground rent and any service charges including your share of the costs of repairing and maintaining any communal areas;
    • Keep your home and any fixtures and fittings in good condition;
    • Be a good neighbour;
    • Get permission from Stockport Homes before making any alterations to your home;
    • If you are a shared owner of a house, you have the same responsibilities as a private home owner, for example, you are responsible for all repairs and maintenance, dealing with your neighbours etc.

    If you don’t follow the conditions of the lease you may be taken to court and have to pay for any damage or costs incurred by your landlord as a result of the breach of your lease.

    Your rights

    You have the right to:

    • Live peaceably in your home;
    • Be consulted about certain maintenance and running costs;
    • Challenge certain charges under some circumstances.
  • Subletting

    Shared ownership

    A condition of shared ownership lease for houses and flats is that you do not sublet your property.

    Leasehold flats sold under the Right-to-Buy scheme

    Leasehold flats bought under the Right-to-Buy may be sublet. However, keeping to the conditions of the lease and paying the service charges remains your responsibility and cannot be transferred to your tenant/s. You are also responsible for ensuring that your tenant/s act as good neighbours, following your lease covenants.

    If you do sublet your property it is your responsibility to inform Stockport Homes and provide your forwarding address. We will also require contact details for the new tenants to comply with fire/building safety regulations.

    To provide information please email leasehold@stockporthomes.org or ring 0161 218 1377.

  • Rent and service charges

    Rent must be paid by shared owners for the percentage of the property still owned by the landlord. As a rough calculation your rent is set at approximately 2.75% of the unowned percentage per year, e.g. if your property is valued at £100,000 and you own 50%, your rent will be approximately £50,000 x 2.75% = £1,375 per year.

    Ground rent is a fee you must pay to the freeholder if it is a condition of your lease.

    Service Charges pay for the services provided to you by your landlord or management company. The services provided will depend on whether you live in a house or a flat and may include a contribution towards the repair and maintenance of any communal areas. For a breakdown of the components of the service charges please consult the Service Charge Breakdown tab below.

    Service charge Breakdown

    Building Insurance

    Under the terms of your lease the Landlord must arrange buildings insurance for the development. Leaseholders have to meet their share of the cost of providing the buildings insurance via their service charges. We insure the leasehold properties we own and manage separately from the Council’s tenanted stock. The Leasehold Buildings Insurance insures your responsibilities under the lease.

    The premium is calculated on a “sum insured” basis: the total cost of rebuilding the portfolio of leasehold stock. The total premium is then split between all the leaseholders fairly. The proportion you pay reflects the rebuild value of your property as a percentage of the rebuild value of the total leasehold stock. The price of the leasehold building insurance increases automatically each year in line with rebuilding costs (e.g. it is index linked) and the total premium cost can be affected by claims history or the state of the insurance market generally. Insurance Premium Tax (IPT) is also added to the premium at a rate set by Government.

    A copy of the Leaseholder Insurance Buildings Schedule is available from the Home Ownership Team. If you have any queries about your Buildings Insurance or want to make a claim please contact the insurance broker direct. Contact details are available on the Home Ownership pages of the Stockport Homes website.

    Buildings insurance does not insure the contents of your home. It is your responsibility to ensure that you have sufficient contents insurance in place.

    Caretaking and cleaning

    Pays your share of the costs of salaries, cleaning materials and transport. Caretaking service standards are available on the Stockport Homes website.

    Communal door entry system

    Pays your share of the cost of operating and maintaining the door entry system.

    Communal electricity

    Pays your share of the cost of the electricity used in the common parts of the building or development as defined in your lease. Electricity may be used for communal lighting; water pumps; door entry systems; lifts and TV aerials.

    This charge does not the cost of replacement of light bulbs the cost of which will appear under responsive repairs.

    Communal ground maintenance

    This is your share of the cost of maintaining any communal gardens / areas in the development (as shown on the lease plan). The service generally includes: mowing of the gras, pruning of shrubs, removal of weeds and litter to shrub and rose beds, flower beds, hedge cutting, cleaning of paths and hard surfaces (free of weeds, moss and litter), removal of litter, minor vandalism to plants and regular inspections.

    Concierge / CCTV

    Pays your share of the running costs and repairs to concierge and CCTV monitoring systems where provided to your block. More information on concierge and CCTV services are available on the Stockport Homes website.

    Fire safety charge

    Pays your share of the cost of providing fire alarm and emergency lighting checks.

    Heating and hot water

    Pays your share of the cost of providing communal heating and hot water where there is a communal boiler. The cost includes fuel usage, annual servicing and some repairs.

    Lift charges

    Includes 24-hour maintenance, repairs and statutory safety checks.

    The total cost of the service contract is divided by the number of units in the development as defined in your lease. If you have bought a ground floor apartment in a block with a lift you are still responsible for contributing your share of this cost as the lift forms part of the structure of the building.

    Major qualifying works

    The term major works or “qualifying works” means those works undertaken as part of a long term asset management strategy / capital programme. The cost of these works is recoverable from leaseholders under the terms of the lease and would usually be met from the reserve or sinking fund that we collect from you and put aside to pay for these types of works.

    Consultation for major works and long-term agreements

    Stockport Homes is committed to consulting leaseholders at all stages of major works projects or where Stockport Homes enters into long term agreements to provide services to leaseholders. The type of consultation we carry out will depend on the circumstances, e.g. if large scale works are planned we may hold on site consultation meetings for residents or present at a Tenants and Residents Association meeting.

    Management fee

    The management fee is your share of the costs we incur in managing the lease including,

    • Preparing legislation compliant invoices/ statements for rent/service charges;
    • Rent service charge recovery;
    • Calculating annual service charge budgets/ estimates and administering funds;
    • Providing information to leaseholders/ residents associations etc.;
    • Procuring buildings insurance services;
    • Engaging and supervising staff, e.g. cleaners, gardeners etc., managing and arranging contracts, e.g. lifts, boilers etc;
    • Arranging and carrying out property checks, e.g. health and safety/fire/property condition checks etc.;
    • Dealing with enquiries from leaseholders having regard to requirements/constraints in the lease;
    • Checking compliance with lease terms and maintaining day-to-day management policy and procedures; Providing basic information of terms and duties to leaseholders upon request

    Photo voltaic (PV) monitoring charge

    The PV Monitoring Charge covers the administration of monitoring the Solar PV in obtaining a meter read and submitting the quarterly Feed in Tariff (FiT) claim. FITs is a UK Government scheme designed to encourage uptake of a range of small-scale renewable and low-carbon electricity generation technologies. In general, FiTs pay for the electricity generated by an eligible system like solar PV, a wind turbine, hydro or micro CHP technology. This charge will also cover any repairs that may be necessary to ensure the solar PV is continuously generating where possible, to the landlords communal electricity supply.

    Refuse collection charge

    This is your share of the cost of renting the bins used to collect rubbish and recycling on the development.

    Repair works

    Is your share of any responsive, reactive repairs to the buildings, common areas and wider development that cannot be planned for but must be carried out. The obligation to keep the development in a good state of repair is one of the responsibilities of the freeholder under the lease.

    On brand new developments during an agreed initial period the building contractor is responsible for putting right any defects with your property or the wider development. Please be aware that any alterations you make to your property during the initial period will invalidate your warranty. Further details of this will be in your completion pack given on property handover.

    TV/satellite or cable/aerials

    Pays your share of a 24 hour call out contract. Repairs and replacements will be charged separately under responsive repairs.

    Payments

    You can pay your rent and service charges by calling Customer Finance on 0161 217 6016. You may be able to spread your housing costs by paying by direct debit. Ask our Customer Finance Team for your options.

  • Buildings insurance

    Your landlord has to provide buildings insurance. This covers the structure and common parts of the building. It does not cover the contents of your home.

    If you have any queries about your buildings insurance, or would like to make a claim please ring Arthur J Gallagher Insurance Brokers Limited on 01245 341 200 explaining that you are a Stockport Homes customer.

    If you need a copy of the Buildings Insurance Schedule for your mortgage provider please email leasehold@stockporthomes.org

    If you would like Stockport Homes to arrange contents insurance please visit the Home Contents Insurance page 

  • Repairs and maintenance

    If you live in a flat

    Your individual repair obligations are outlined in your lease.

    However, you will usually be responsible for:

    • The window glazing (but not the frame);
    • The ceilings (but not the joists or beams or concrete floors);
    • All plaster and other surfaces to all floors, walls and ceilings in your property.The entrance door and frame to the property and any other external doors and frames (within the property);
    • All plumbing, electrical services and wiring within and servicing solely your property;
    • All fixtures and fittings in the property (this usually includes window handles and locks);
    • All internal decoration.

    You can pay for Stockport Homes’ Repair 1st team to do a repair inside your property. Visit our repairs page for more details.

    Stockport Homes is usually responsible for:

    • Repairs outside your property;
    • The communal areas (if any);
    • The structure of the building, for example, the roof, window frames, and common use service pipes.

    Your lease will contain a plan showing the ‘development’ around your property. You are usually responsible for paying your share of any repairs, maintenance and improvement works within the development. These form part of your service charges. 

    If you live in a house

    Your repair obligations are outlined in your lease or freehold transfer. However in most circumstances you will be responsible for all internal and external repairs.

  • Major works to blocks of flats

    The following information only applies to leaseholders of apartments, flats or maisonettes. Owners of leasehold houses are responsible for repairing and maintaining their homes.

    Under the terms of your lease your landlord (Stockport Homes or Stockport Council) is responsible for repairing, maintaining and improving the building which contains your flat as well as the surrounding development. This typically includes the walls, windows, loft spaces, communal areas and gardens, roof and roofline etc. Under the terms of the lease, you are responsible for paying your share of the cost of the works i.e. if there are 6 properties in your development and the roof is replaced you will be liable to pay 1/6th of the total cost of the roof replacement.

    Maintenance and repair works that will and cost any one leaseholder over £250 in a single year are known as Qualifying Works. For these works we will carry out a special sort of consultation known as Section 20 consultation.

    Owners of Shared Ownership apartments

    If you live in a shared ownership flat you will be paying into a Reserve Fund. The Reserve Fund for your development builds up over time to pay towards any repair, maintenance or improvement works that will be carried out less than once a year, e.g. decoration, replacement of windows etc.

    Owners of apartments/flats/maisonettes sold under the Right to Buy scheme

    Under the terms of the Right to Buy lease, major works carried out to developments are obliged to pay their share of the cost of works when it is invoiced. This will usually be at the beginning of the financial year in which the works are planned as part of the service charge estimate for that year. Actual costs will be reconciled against the estimated costs as part of the annual accounting process carried out and invoiced before September 30th of the year works are completed.

    As major works can be very expensive it is recommended that leaseholders of flats sold under the Right to Buy save between 1-5% of the property’s value each year to save towards upcoming major works.

    If you are facing a large invoice for works and are worried about paying please contact us as soon as possible as we may be able to help with money advice, benefit advice or a payment plan. Please email leasehold@stockporthomes.org or ring 0161 474 1377

     

  • Alterations

    Shared Owners – Houses and Flats

    Alterations or improvements to your property are not allowed under the terms of your lease and would only be approved in exceptional circumstances. We would always advise you to purchase more of your home rather than make improvements.

    As you own a percentage of your property you would also only own a percentage of the value of any improvements you make regardless of whether you have paid for them. Therefore, if you decide to sell your property any improvements will disregarded regardless of whether consent for the improvements was given or not.

    On new developments during an agreed defects period – usually one or two years after the development is completed - the building contractor is responsible for putting right any defects with your property and the wider development. Any alterations you make to your property during this period will invalidate your warranty. This may apply to small changes such as adding an outside tap. Cosmetic changes are also not recommended during this period as they may also invalidate your warranty. To check if Stockport Homes will give consent to an improvement or alteration or to check if you are still in the defects period please email leasehold@stockporthomes.org or call 0161 218 1377.

    Right to Buy - Flats
    Under the terms of your lease you can only carry out internal alterations or improvements to your home if you get written permission from Stockport Homes. You will not be allowed to do any alterations that affect the structure of the building i.e. windows, walls, roof or loft space as these remain owned and the responsibility of SMBC. Only cosmetic changes can be made without consent.

    Apply to make alterations or improvements

    If you wish to make any alteration or improvement please complete the online form Alertaions and Improvements Form and pay the administration fee for assessing your proposed alteration/improvement by calling the Customer Finance team on 0161 217 6016, option 3. If you require a paper copy of the form please email leasehold@stockporthomes.org or call 0161 218 1377.

    If you have already made and alteration or improvement you can apply for retrospective permission, by completing the same process as above. If we do not give retrospective permission you may be asked to remove the improvements/alterations and return the property to its original state at your own expense.

    Other permissions you may need to apply for

    As well as consent from your landlord you may also need to get planning permission from the local planning authority. You may also need approval from Building Control. It is your responsibility to obtain such consents.

    You may wish to discuss the likelihood of your gaining our permission before filling in the form or applying for planning permission/building consent. To do this please send an email outlining the alteration/improvement you wish to make to leasehold@stockporthomes.org or call 0161 218 1377.

    General advice

    We will not usually give permission to alter the building as it will normally remain the property of SMBC, e.g. loft spaces are not usually owned by the flat below.

    If you are unsure whether you own the space you want to alter, your lease or transfer plans will show exactly what you own. You can obtain a copy of your lease/headlease from Stockport Homes for a small fee or directly from the Land Registry.

  • Right to Buy

    What is the right to buy scheme?

    Right to Buy allows most council tenants to buy their council home at a discount. Use the eligibility checker on the Government’s Right to Buy website to find out if you can apply at https://righttobuy.gov.uk/. This Government website includes lots of information about the Right to Buy including the forms you need to apply. There is also a telephone helpline available for advice.

    You can apply to buy your council home if:

    • it’s your only or main home
    • it’s self-contained
    • you’re a secure tenant
    • you’ve had a public sector landlord (for example, a council, housing association or NHS trust) for 3 years - it does not have to be 3 years in a row

    Discounts

    You can get a discount on the market value of your home when you buy it if you qualify for Right to Buy.

    The maximum discount is £82,800 in Stockport. Discounts usually increase each year in April in line with the consumer price index (CPI). For the latest discounts available please check the Government’s website at https://righttobuy.gov.uk/

    The discount is based on:

    • how long you’ve been a tenant with a public sector landlord
    • the type of property you’re buying - a flat or house
    • the value of your home

    If you’re buying with someone else, you count the years of whoever’s been a public sector tenant the longest.

    Can you afford it?

    For most people, buying a home is the biggest single investment they ever make. It’s an exciting time, but there is a lot to think about. So you’ll need to take time to look at the costs.

    Think about the future, when your circumstances may change. Bear in mind that house prices could go down and interest rates could go up. Interest rates are at a historic low which may make a mortgage cheap compared to paying rent. However, if interest rates rise to a more ‘usual’ level this may not continue to be the case.

    Look at all the costs, not just mortgage repayments. You’ll have additional costs and responsibilities you may not have as a tenant, such as repairs and maintenance. Don’t forget general living costs when working out what you can afford (food, bills etc).

    If you buy a flat, you’ll probably be a leaseholder, and will have to contribute to the maintenance of the building and surrounding area. This will include paying your share of major works to the development including replacement roofs, windows etc. These costs can run into many thousands of pounds, will be chargeable under the terms of your lease and will be scheduled by your landlord when required.

    Don’t forget to think about the one-off purchase costs too – such as stamp duty, a survey and solicitor’s fees. A checklist of these is available on the Government’s website to help you work out your individual costs if you buy, and other things to think about.

    Other things to consider

    • You won’t be eligible for housing benefit if you become a homeowner.
    • If you require long term care your home will be an asset that may be sold to pay for it.
    • You may want income protection or life insurance in case anything happens to you while you’re paying back your loan or mortgage (some lenders require this).
    • Your home could be at risk if you fail to keep up with your mortgage or loan payments.
    • Even if you don’t need a mortgage yourself, check whether lenders are willing to give loans or mortgages on the type of house or flat you are buying. If you want to sell in the future, people interested in buying your property might need a mortgage.
    • Always check costs upfront before signing anything.
    • Remember the value of your home can go down as well as up.
    • Interest rates can also go up as well as down.
    • If you plan to sell your property you may have to repay any discount you have received.

    Next steps and additional information

    If you want to apply you need to complete an application form which can be found at https://righttobuy.gov.uk/. If you would like us to email out a right to buy application pack please email righttobuy@stockport.gov.uk or ring 0161 474 3238.

    Once complete the application form should be sent to:
    Property
    Legal & Democratic Services
    Stockport Council
    Town Hall
    Edward Street
    Stockport
    SK1 3XE

    Once we have received your application we will set up a RTB appointment with you. All applicants need to attend the appointment along with anybody who is gifting any money towards the purchase.

  • Right to Acquire

    Right to Acquire allows most housing association tenants to buy their home at a discount. You apply using the Right to Acquire application form which you can download from the Government’s website at www.gov.uk

    You can apply to buy your housing association home if you’ve had a public sector landlord for 3 years. These landlords include:

    • housing associations, e.g. Stockport Homes
    • councils
    • the armed services
    • NHS trusts and foundation trusts
    • Eligible properties

    Your property must either have been:

    • built or bought by a housing association after 31 March 1997 (and funded through a social housing grant provided by the Housing Corporation or local council)
    • transferred from a local council to a housing association after 31 March 1997
    • your landlord must be registered with Homes England.

    The home you want to buy must also be:

    • a self-contained property
    • your only or main home

    Who doesn’t qualify

    You can’t use Right to Acquire if:

    • you’re being made bankrupt
    • a court has ordered you to leave your home
    • you’re a council tenant, e.g. a Stockport Council tenant – you may be able to use Right to Buy instead
    • you have ‘Preserved Right to Buy’

    Discounts are capped depending on the area that you live in. In Stockport it currently stands at a maximum of £11,000 but check the Government’s website for the most up to date information.

    If you choose to sell your property once you have bought it, you have to repay some of the discount. See the ‘Selling your RTA/RTB leasehold property’ for more details.

    For more information please email leasehold@stockporthomes.org or call 0161 218 1377.

  • Selling your RTA-RTB leasehold property

    If you purchased your leasehold property on the open market please see Purchased on the open market, if you purchased your leasehold property through the RTB/RTA see Purchased through RTB/RTA.

    Purchased on the open market

    If you have purchased a leasehold flat on the open market it is your responsibility to make sure that if the property is sold within the first 10 years after the original Right to Buy or Acquire you offer it back to Stockport Council or Stockport Homes. To find out when your property was first sold under the Right to Buy/Acquire please check your lease. To find out if Stockport Homes or Stockport Council wish to purchase the property back please email leasehold@stockporthomes.org or call 0161 218 1377.

    If you do plan to sell your property it is likely you will be asked by your solicitor to get an LPE1 pack/ landlord enquiry pack. For more information please see the ‘Landlord enquiries - LPE1 - Management Pack’ tab below.

    Purchased through RTB/RTA

    If you have purchased your property from Stockport Homes or Stockport Council through the Right to Acquire/Buy, you should be aware that if you sell your property with five years after purchasing you have to pay back some of the discount that you received. The same rules apply for both right to acquire/buy.

    • 100% of the discount in the first year
    • 80% of the discount in the second year
    • 60% of the discount in the third year
    • 40% of the discount in the fourth year
    • 20% of the discount in the fifth year

    For example if your property was worth £100,000 and you had a 10% discount (£10,000) and sold your house in the third year after purchase you would have to pay back 60% of the discount, which would be £6,000.

    Additionally, for the first 10 years after purchasing the property you have to offer it back to Stockport Homes / Stockport MBC. If you would like to find out if either organisation would like to purchase your property back please email leasehold@stockporthomes.org or call 0161 218 1377. If Stockport Homes or Stockport MBC do not want to purchase the property off you, you will be allowed to sell your property on the open market.

    If you do plan to sell your property it is likely you will be asked by your solicitor to get an LPE1 pack/ landlord enquiry pack. For information pertaining to this please see the ‘Landlord enquiries - LPE1 - Management Pack’ tab below.

  • Buying more of your shared ownership property

    Buying more of your shared ownership property is known as staircasing: you are taking steps up towards owning 100% of your property. Staircasing allows you to purchase additional shares in your property. As you buy more, you will pay less rent, and if you staircase to 100% you won’t pay any rent at all. If you are the shared owner of a house you may also be able to acquire the freehold for your property. If you are a shared owner of a flat, once you own 100% you will become a long leaseholder as Stockport Homes will continue to own the building you are in and provide services to you. You will not be able to staircase if you are in rent arrears.

    If you are going to staircase we recommend that you buy the maximum you can afford each time as there are costs associated with each transaction. These costs can include; valuation fees, legal fees, Stockport Homes’ administration fees, stamp duty and any fees your lender may charge.

    Before deciding if you wish to buy more of your property you should ensure that you are able to finance the purchase, either with savings or by getting a mortgage in principle from a lender. If you decide to go ahead and staircase you will need to complete an ‘Intention to staircase’ form and pay Stockport Homes an administration fee. The summary of costs can be found further down on this page. To pay the administration fee please call the Customer Finance Team on 0161 217 6016 option 3 or if you wish to pay by cheque please make cheques payable to Stockport Homes Ltd and send to The Home Ownership Team, Stockport Homes Ltd, Cornerstone, 2 Edward St, Stockport, SK1 3NQ.

    Once you have paid the administration fee and returned the intention to staircase form the next step is for you to provide us with a Royal Institute of Chartered Surveyors (RICS) valuation of your property. An estate agents valuation will not be sufficient. Under the shared ownership legislation your valuation will last three months before it needs to be re-assessed (usually at a lower additional cost to the original valuation). Therefore, we strongly recommend that you progress other elements of the purchase, e.g. find a solicitor, organise your mortgage etc. before your valuation so the purchase can move on efficiently.

    If you would like to staircase or get a staircasing enquiry pack please email leasehold@stockporthomes.org or call 0161 218 1377 and a member of the Home Ownership team will answer any questions that you have.

     

  • Selling your shared ownership property

    This section is to help explain the process that is involved in the resale of your shared ownership property. If you are interested in selling your property the first thing that you need to do is contact the Home Ownership Team on 0161 218 1377 or email and inform us that you are interested in selling your property. At this point we can answer any questions that you have and provide you with our resale information pack and an ‘intention to assign-resale’ form. Under the terms of your lease your landlord must consent to any sale and there are prescribed processes for you to go through: you cannot sell your shared ownership property on the open market without permission.

    Before you complete the ‘Intention to resale’ form we recommend that you get a Royal Institute of Chartered Surveyors (RICS) valuation of your property. This is a necessary step that you must complete. It is best to do it at this stage so that the rest of the process can run smoothly. Once you have your valuation you will been to complete the ‘intention to assign-resale’ form and return it to the Home Ownership Team. To make the process run even smoother it is advised that you also supply us with EPC and photographs of your property for marketing purposes. As part of the intention to assign-resale form you will need to choose which method of selling your shared ownership property you would like to do.

    There are two ways that you can sell your property:

    1. The first is that you sell the percentage of the property that you currently own.
    2. The second takes has two parts that happen at the same time. You purchase the remaining shares of your property (Staircase to 100%) then immediately sell 100% of the property on the open market.

    If you chose the first option Stockport Homes have the right to try and sell the property as an affordable shared ownership property during an eight week nomination period. Any new buyer will have to meet the same affordability criteria that you met on buying the property.

    When you sell your home you will be asked by purchasers to provide a LPE1 pack. You can contact the Home Ownership team to arrange to pay for the pack. A summary of costs can be found online here.

    If you decide that you would like to sell your property please complete the form at the bottom of the guide and returned it to us along with your valuation, EPC and photographs of your property for marketing purposes. Please email the documents to leasehold@stockporthomes.org or post it to:

    Home Ownership Team
    Stockport Homes Ltd, Cornerstone, 2 Edward Street, Stockport, SK1 3NQ

    Alternatively if you would like to purchase more of your property (Staircasing) please email leasehold@stockporthomes.org or call 0161 218 1377 and we will provide further information regarding this process.

  • Landlord Enquiries - LPE1 - Management Pack

    If you are selling your property your purchaser’s solicitor will request a leasehold management pack also known as an LPE1 pack. We can only supply this pack to you or your appointed legal representative.

    There is a fee for supplying this information. Upon receipt of the payment we will aim to provide your pack within 10 working days.

    Our standard pack contains key information including:

    • Current balance of service charge account
    • Last three years’ service charges including invoices for minor communal repairs
    • Details of any planned major or cyclical works to be carried out in the next two years
    • Buildings Insurance Schedule
    • Details of any asbestos or fire risk assessment carried out (if applicable)
    • Details of any known alterations or breaches of the lease

    Should you require additional information we may charge a further fee.

    If you require a leasehold management (LPE1) pack please email leasehold@stockporthomes.org with your solicitor’s details. Please pay for your pack using your credit or debit card by calling the Customer Finance team on 0161 217 6016, option 3 and give your details. If you wish to pay by cheque please make cheques payable to Stockport Homes Ltd and send to The Home Ownership Team, Cornerstone, 2 Edward St, Stockport, SK1 3NQ.

  • Lease Extension

    Lease extension is possible on most leasehold properties managed by Stockport Homes. Please be aware that if you have 80 years or less left on your lease it may affect your ability to secure a mortgage.

    If you would like more information regarding lease extension please email leasehold@stockporthomes.org or call 0161 218 1377.

    If you would like to get an idea of what a lease extension may cost, visit The Lease Advisory Service website and use their lease extension calculator https://www.lease-advice.org/calculator/

  • Selling your leasehold property

    If you are selling your property your purchaser’s solicitor will request a leasehold management pack. We can only supply this pack to you or your appointed legal representative.

    There is a fee for supplying this information. Upon receipt of the payment we will aim to provide your pack within 10 working days.

    Our standard pack contains key information including:

    • Current balance of service charge account
    • Last three years’ service charges including invoices for minor communal repairs
    • Details of any planned major or cyclical works to be carried out in the next two years
    • Buildings Insurance Schedule
    • Details of any asbestos or fire risk assessment carried out (if applicable)
    • Details of any known alterations or breaches of the lease

    Should you require additional information we may charge a further fee.

    You can pay for your leasehold management pack using your credit or debit card by calling the Customer Finance team on 0161 474 2846. If you wish to pay by cheque please make cheques payable to Stockport Homes Ltd.

  • Summary of leasehold fees
    Service Charge (including VAT)

    LPE1 Pack / Landlord Enquiries – Flats

    £210.00

    LPE1 Pack / Landlord Enquiries House 

    £150.00

    Hard copy of enquiries

    £24


    Stockport Homes Resales Fee (Stockport Homes can charge up to 1% of resale value of your property if it sells your property during the nomination period.)

     

    Resale Admin Fee (this charge is additional to the above resales fee or is charged separately if property is not sold in the nomination period). 

    £240

    Processing staircasing/further purchase (shared ownership only)

    £150

    Processing re-mortgages/further advances

    £90 

    Additional solicitor enquiries

    £48

    Notice of transfer/charge

    £72

    Copy of lease

    £48

    Landlord letter charge

     £18

    Alteration Fee for consideration/permission

     £90

    Alterations Survey per hour (where needed)

     £60

    To contact us with any queries about your lease, please email leasehold@stockporthomes.org

  • Documents
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Page last reviewed 09/12/2019