Leaseholders, shared owners and homeowners
Home owners are residents 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.
I'm struggling to pay, what can I do?
Don't bury your head in the sand. The earlier you get help, the more options you'll have to avoid losing your home.See more
What are my responsibilities as a shared owner or leaseholder?
What are my responsibilities as a shared owner or leaseholder?See more
What are my service charges and sinking fund?
Service charges are made in addition to your rent and cover services, repairs, maintenance and other variable costs that are not covered by your rent. If you pay service charges in addition to your rent you would have received details at the start of your tenancy.See more
How will Magna consult with me?
We would normally consult with homeowners individually, electronically where possible.See more
How do I extend my lease?
If you are a shared owner or leaseholder you will have a lease for your property. A lease is a contract that allows you to use a property 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 will need to increase the length of the term of the lease.See more
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.See more
How to buy more shares in my home
'Staircasing' is the term that refers to increasing your share in the property you own.See more