Leaseholders, shared owners and homeowners

Homeowners are people who own part or all of a Magna Housing home. This includes people who've bought a shared ownership home and leaseholders who've bought their home through the right to buy or right to acquire schemes.

We have a dedicated homeownership team who are available to help.

What are my responsibilities as a shared owner or leaseholder?

As a home owner, you have certain responsibilities and we have responsibilities to you. Here is a brief overview of the main obligations contained within your lease.

How do I extend my lease?

If you're a shared owner or leaseholder, you'll have a lease for your home. A lease is a contract that allows you to use the home for a specified term, normally 99 or 125 years. The original lease term will decrease over time and as the term gets shorter you may be in a position where you'll need to increase the length of the term of the lease.

How to buy more shares in my home

Find out how you can buy more shares (also known as staircasing) in the home you own.

How to sell my home

If you're a shared owner, you can sell your home at any time. Find out how.

Charges, rents & sinking funds for homeowners

As a homeowner, you will pay a ground rent and a specified rent. If we provide you with services that you share with more than one property, a service charge will also apply. The payment of rent and any service charges is covered in your lease. You may also contribute towards a sinking fund if any common parts will require replacement over time.

I'm struggling to pay, what can I do?

If you're struggling with your payments, get in touch.

How will Magna consult with me?

We'll consult with leaseholders about any policies which have a direct impact on them, services provided or proposed changes to services provided and major maintenance and improvement works that we plan to do.

The Right to Manage

As a leaseholder, you may have the right to manage the freehold of your home. This means that you are able, should you wish, to make your own decisions about the upkeep of common areas in and around your home. This is a relatively new right, that can be found in Part 2 of the Leasehold and Commonhold Reform Act 2002.

Your shared ownership lease information

Find more information about your lease if you live at Royal Manor, Portland or Corallian Heights, Sturminster Newton.

Homeowners handbook

Your homeowners handbook contains useful information about your home and responsibilities.

Our legal fees

Learn more about the various legal fees we charge for things like leasehold enquiries and compliance certificates.