Home ownership with Latimer

You'll find information on the following as you scroll through this page:

• Home improvements and alterations
• Subletting options
• Keeping pets
• Running a business from home
• Pre-sale management pack
• Extending your lease
• Remortgaging your shared ownership home
• Transfer of ownership for shared owners
• Homebuy equity loan scheme
• Buying the freehold
• Get involved - do you want to make a difference to where you live?

We charge non-refundable administration fees for reviewing your lease and progressing applications.

You'll find out more about these charges on our Service charges, fees and rent page.

All leaseholders are advised to check lease agreements if you're considering subletting your home. As the home owner, there are many responsibilities to consider.

People with shared ownership don't generally have the right to sublet, but please read our guidance for more information.

You'll need permission from us. The terms of your lease may only permit that your home is only for residential purposes. Even if your lease doesn't prevent you from running a business from home, consider if it will affect your mortgage agreements and any insurance.

Homeowners are responsible for ensuring that their business complies with all regulations, legislation and standards relevant to the type of business. We won't accept responsibility where a business fails to comply with these requirements. 

Where a business is related to childcare we'll ask for more information to confirm that the person running the business is appropriately registered. We won’t permit any signage relating to the business to be affixed to our property.

We'll need the full details of your planned business use, the hours of operation, level of noise and how much you think it could impact on your neighbours.

Every year your lease’s length diminishes. A shorter lease may make it more difficult to find a buyer for your home if you want to sell. It may make it difficult to re-mortgage as well.

Most housing association leases have historically been granted for 99 or 125 years. More recently they've been granted for 250 or more years. Older leases, or leases that have come into our management via a stock transfer from another housing association or local authority, may differ.

Lenders favour leases with an unexpired term in excess of 80 years. The cost of a lease extension increases once the remaining term drops below 80 years. If you can afford it, it's best to extend your lease before the remaining term falls below 80 years.

Lease extensions are legal processes, so you should always get specialist legal advice.

Extending a lease is a statutory right for all open-market leaseholders. We'll still offer an informal lease extension service. Shared owner leaseholders are required to apply to extend your lease only through the informal service.

Lease Extension Guide for shared owners (PDF)

Lease Extension Guide for outright owners (PDF)

As a shared owner you may want to transfer the lease agreement to either the other joint owner, so they become the sole owner, or to share your lease with another person. You'll need our consent.

Often referred to as transfer of ownership or transfer of equity, the following steps are required:

• Speak to your mortgage lender, a new mortgage offer will be needed along with their consent.
• We'll need to approve the new mortgage offer.
• Shared owners are responsible for arranging with their solicitors to carry out the legal transfer of the property.
• We'll be served with Notice of Transfer on completion.

Before we're able to grant consent to the transfer of your lease we require written confirmation:

• Of consent to the transfer taking place from the person being removed or being added to the title.
• That the leaseholder(s) understand that compliance with the terms of the lease will be their sole responsibility.
• From the remaining leaseholder(s) that they agree with the transfer.

Important - if you're transferring your shared ownership lease from sole to joint names, the new owner will need to be eligible for the shared ownership scheme. You'll be required to confirm this during the permission process. The joint household income needs to be below £80,000 (£90,000 in London). They must not own another property.

Joining households with another person may be a good time to consider purchasing more shares in your home, known as staircasing. As a shared owner you can increase your ownership, reducing your rental payments as you go. If you would like to learn more about how staircasing can benefit you visit our dedicated Staircasing page at www.latimerhomes.com/my-home/staircasing.

For the home ownership team to progress your request to transfer equity in your property you're required to pay the transfer of equity administration fee and notice of transfer fee.

As a leaseholder you may be eligible to purchase the freehold of your apartment block through collective enfranchisement.

The freeholder of a property:

• Owns it outright, including the land it's built on.*
• Is responsible for costs and maintenance of the property and land.*

*Please note estate-based service charges may remain payable for communal spaces retained under the ownership of Clarion Housing Association.

The process of purchasing a freehold is formally known as the statutory right of collective enfranchisement. It's the right provided by the Leasehold Reform Housing and Urban Development Act 1993 to enable qualifying leaseholders to request the freehold of their building is sold to them.

We'll agree to collective enfranchisement of qualifying properties in cases where there are enough qualifying leaseholders. To pursue a collective enfranchisement application, you may choose the statutory procedure or our own informal procedure. The Leasehold Advisory Service provides useful and independent guidance.

Buying the freehold can be a complicated process. We recommend you seek professional advice from a solicitor and surveyor with experience in this area.