Existing shared owners

Your rights as a homeowner

About your Lease or Transfer document

Your Lease or Transfer document is a contract between you and Yarlington Housing Group. It gives you and your successors the right of possession of your home, provided you keep to the Terms and Conditions.

Your Lease or Transfer is a legal document. Keep it in a safe place. If you lose it, you can obtain a copy from the Land Registry.

If circumstances in life change and you wish to have a name removed or added to your shared ownership lease, this is called an assignment. YHG can not make changes to the wording of your lease, only your solicitor will be able to ‘assign’ or ‘unassign’ names in the lease according to your circumstances.

 

When a lease is being assigned, YHG will need to carryout a financial assessment on any additional people being added to the lease, or if a name is being removed, the remaining shared owner will need to be assessed to ensure they meet affordability criteria.

 

You will  need to instruct a solicitor who will be responsible for producing the assignment documents, and registering the title with land registry.

 

If you wish to assign your lease to another party, a financial assessment will be required for the new shared owner; your solicitor will be responsible for producing the assignment documents.

 

If you are a YHG leaseholder and you wish to assign your lease to either a new buyer or another person, you will simply need to instruct your own solicitor, they will be responsible for producing the assignment documents and registering the title with land registry. They will then notify YHG and we will carry out the necessary changes to your account.

 

For more information about transferring a lease please contact leasehold@yhg.co.uk

 

YHG charges a £55.00 notice of transfer/assignment fee. Please refer to our list of fees and charges.

 

The Law

There are several laws and Acts of Parliament protecting your rights. If you are not sure of your rights please speak to your legal advisor, or alternatively you can contact the Citizens Advice Bureau.

The Transfer or Lease (where applicable) provides details about:

  • Any rent you may have to pay, when the rent payments are due and when we may vary the rent

  • Any service charge you may have to pay, the proportion of the cost you must meet; when payment is due, what services it covers (including, if appropriate, fund contributions) and how we may alter it

  • Payment of rates or any other taxes on the property and sharing payments of any rates or taxes for the common parts of the property, or a building in which it is situated

  • Shared ownership leases, how you can buy shares of the remaining equity (known as ‘staircasing’)

  • How to sell your Lease or give it up

  • What reasons (called ‘grounds’) we may use to terminate the Lease by forfeiture or re-entry

  • Our joint responsibilities, both you and us, for repairs and maintenance to the property, the structure and the common parts

  • General conditions about the occupancy of your home

  • Insurance of the property

If you require a greater explanation of any clause in your Transfer or Lease, you should seek legal advice. However, for guidance, we give details in the following sections of the main points and their effect on the management services we provide (where appropriate).

 
Contact our sales team on 01935 404006 or email shared.ownership@yhg.co.uk