Shared Ownership - Frequently Asked Questions

1. How do I purchase additional shares of my home?
An up to date valuation of the property must be completed which Loreburn will instruct at a cost of £84.00 to the householder. If the householder wants to proceed once the valuation has been completed we will advise our solicitors who will prepare paperwork for signing by authorised signatory. The householder will be advised of new charges from relevant date.

2. What do I do if I wish to sell my home?
A Home Report is required before the property can be placed on the market. If the householder doesn’t have an up to date report, Loreburn can arrange this at a cost of £300 to the householder. If the householder is happy with the valuation and wants to proceed, the percentage for sale will be advertised on Loreburn’s website and social media platforms. The householder can provide photos to enhance the advert and can also place the property with an Estate Agent.

3. Can I Sub-let my home?
Yes, but you must write to us asking for permission and provide confirmation from your lender that he has agreed to this. You will still be responsible for the occupancy payments to us, not your tenant.

4. Do I need to use specific contractors for repairs?
If the repairs are inside your property, you’re free to choose your own contractor. NB: You should always use a properly qualified tradesman.
If the repair is in a communal area we will get quotes for the work and consult with all the householders. You will have to agree which contractor you want to opt for and pay for the work before we can instruct the work.

5. How do I make a complaint?
This can be done through our website or by contacting our offices.  Please see our Complaints Procedure for full details. 

6. Do I need to organise insurance myself?
In most cases, your Deeds of Conditions will require you to have Common Building Insurance which will be arranged by us. This is cheaper than an individual insurance policy and makes claiming for communal damage easier as there’s only one policy to deal with.

7. What documents do I need to provide when applying?
You will have to complete an Application for Shared Ownership which is available from our offices or you can download a copy.

8. Can I purchase additional shares at any time?
You can increase your percentage ownership once in every 12 months however you can increase by 25%, 50% or 75% at one time.

9. What if I fall behind with my payments?
Our Income Team can offer help and advice, please contact them on 01387 321300 should you have any issues or concerns.

10. Will LHA buy back shares?
We will only buy back your share if your property is being repossessed under the Mortgage to Rent Scheme.

11. Do I have specific parking spaces?
If you do, this will be intimated on your Title Deeds.

12. Do I require permission to keep a pet?
This will be intimated on your Title Deeds.

13. What do I do if there is a Neighbour dispute?
You should try to revolve any dispute amicably with your neighbour. If this doesn’t work you can try mediation. Depending on the nature of the dispute you can ask either the Community Safety Warden or the Police to intervene.