Rental repayments

How do the rental payments work?

How do I know how much rent I will need to pay?

The level of rent payable will be determined by the amount of the remaining share owned by Shanly Partnership Homes.

Once you have been confirmed eligible to buy one of our shared ownership properties, our Sales Team will supply you with an affordability calculator.  When you complete the affordability calculator you will be able to see the maximum amount you can buy and the cost of the rent to be paid to us. The two figures combined will be worked out for you automatically so that you can be sure you are not taking on something you cannot afford.

Will my rent ever increase?

Your rent will usually be reviewed annually in line with the terms of your specific site's lease. This can be calculated to take inflation and/or market rent into account. Full details of when and how your rent will be reviewed can be ascertained from your solicitor at the point of purchase. We will be able to advise on all matters in your Lease.

How do I pay my rent?

Your rent will need to be paid by monthly Direct Debit. We will provide you with a Direct Debit mandate form which you will need to complete and return to your bank or building society.

What if I cannot pay my rent?

It is important that you meet your rental payments and this is why your level of affordability is taken into account at the point of purchase. If you are having any difficulties in paying your rent then you must contact our Residential Estates Manager on 01494 671331 immediately so that we may discuss this further with you.