New shared ownership model - initial repair period

If your property has a new shared ownership model lease, it benefits from a ten-year initial repair period which covers two different areas of repair (subject to criteria) while you own less than a 100% share of your home.   

General repairs & maintenance allowance

External and structural repairs 

SNG, will be responsible for the cost of essential repairs required to the external fabric of the building and structural repairs to walls, floors, ceiling and stairs inside of the home - but only where the repair is not covered by the building warranty or any other guarantee pertaining to the particular components.  

New homes will usually have a New Home Building Warranty (or equivalent) which will cover the cost of structural repairs for the first 10 years from the date of build. Any repairs during the first year of construction will be covered by the SNG defects period.

Any work required that is covered under a warranty/guarantee should be claimed through the policy by the policy holder. 

Responsibility for carrying out the structural repairs will remain with the building owner for flats or, in some cases, the shared owner for houses. 

You can find examples of what's covered on this list [pdf, 95KB] Opens in new window.

Service charges will still be charged and will cover the cost of general maintenance and upkeep of the building and estate/grounds. You will remain 100% responsible for service charges.