Discover everything you need to know about owning a newly built Hyde New Home through shared ownership. From understanding what it means to be a leaseholder to exploring the first steps after purchasing your home, this guide has you covered. Learn how Hyde supports you at every stage, ensuring a seamless experience as you settle into your new home.
Being a leaseholder of a new home
After you find your ideal Hyde home, our team of specialist Sales Consultants will guide you through the buying process and provide support every step of the way.
Owning your own home is a major milestone, and we want you to start off right. That’s why Hyde includes additional features—such as integrated kitchen appliances, high-quality flooring, and turfed gardens where applicable—in all our homes at no additional cost. You’ll also enjoy the security of homeownership and the freedom to decorate and furnish your new home any way you wish.
Shared ownership homes are sold on a leasehold basis, which includes associated costs such as service charges, rent, and repairs. It is important to understand these costs and note that they may vary from year to year.
Moving into your Hyde Home
Once your new home is ready and the legal process is complete, your Sales Consultant will introduce you to a dedicated member of our Product Quality Team, who will serve as your main point of contact during the defects liability period. They will assist with any initial issues or queries and will check in regularly to ensure you’re settling in well.
Home demonstration and home user guide
Before moving in, you will be invited to a home demonstration, where we will familiarize you with all the appliances and systems in your new home. This session is designed to ensure you feel confident and informed about your new space.
In addition to the home demonstration, you will receive a comprehensive Home Demonstration Manual, which will serve as your operational guide for managing and maintaining your home.
Reporting issues and repairs
We strive to provide well-finished homes that undergo rigorous quality testing, but some teething issues may still arise. Your new-build Hyde home is covered by a defect period for repairs. During this time, your Product Quality Team contact will assist you with raising any issues you experience in your new home.
Please note that not all repairs during the warranty period are Hyde’s responsibility. As a homeowner, you are responsible for carrying out regular maintenance on your home.
Exceptional customer service
Around six weeks after moving in, you will be contacted by a third-party research company and invited to participate in a customer satisfaction survey. Hyde New Homes has received the In-House Gold Award for customer satisfaction for eleven consecutive years and is also the proud holder of the Net Promoter badge of quality.
Your participation would be greatly appreciated, as the feedback you provide helps us continue delivering the best possible service.
Staying connected with Hyde online
After your first year in your new home, all of Hyde’s services will continue to be easily accessible through the Hyde Housing website, where you will have secure access to a range of self-service options available 24/7. These include:
- Checking your balance
- Making rent and service charge payments
- Updating personal details in the MyAccount section
- Submitting enquiries about rent or service charges
- Providing feedback
- Reporting neighbourhood issues (e.g. lift, lighting, communal door entry)
All of these features are designed to give you more control and flexibility in managing your home.
Costs of owning a shared ownership home
Owning a shared ownership home is a manageable way to get on the property ladder, but it’s essential to understand all the monthly costs you’re responsible for and budget accordingly:
Mortgage repayments
As a shared owner, you’ll make monthly mortgage payments to your lender for the share of the property you own.
Rent payments
For the portion of the property you don’t own, you’ll pay subsidized rent to Hyde each month. This rent is reviewed annually, in line with the terms of your lease.
Service and estate charges
Hyde provides a wide range of services to ensure that homes and communities are well-maintained and safe. As in any other building or community, you will have to pay service charges to cover the following costs:
- Communal cleaning and gardening
- Maintenance of lifts, door entry systems, solar panels, and communal TV aerials
- Building insurance, which is arranged by Hyde and offers competitive rates
- Sinking fund for large future repairs, such as repainting communal areas
- Management and audit fees
- General repairs to communal areas
Service charges are reviewed annually. We strive to deliver quality services at the best possible value, but rising energy tariffs, new government-mandated safety measures, and increasing building insurance costs have led to some service charge increases. These costs are typical for any leasehold property, whether rented or owned.
Utility costs
As a homeowner, you’re responsible for all household utility bills, including electricity, gas, water, and council tax.
Repairs and maintenance
As a shared owner, you are responsible for all internal repairs and maintenance within your home. Hyde remains responsible for the upkeep of external structures and communal areas, which is covered by your service charge.
