Varying your lease agreement
When you became a shared owner, you entered into a legal agreement with bpha. This agreement is called a lease, and it gives you the right to live in your home. The lease sets out the agreement between yourself and bpha, including your legal rights and restrictions, as well as yours and bpha’s legal obligations.
Varying your lease means changing the agreement between yourself and bpha.
As a registered provider, we access public funds to support our delivery of affordable homes, which includes the shared ownership product and is defined as affordable homeownership.
We may consider varying your lease in the following circumstances:
- You or a buyer is unable to secure a mortgage on the home because of the lease
- You have a defective lease
- You are extending your lease term
Considerations
You will need to instruct a solicitor to complete the legal admin when varying your lease agreement.
You will be responsible for both your own, and bpha’s legal fees, which you will be made aware of if we agree to vary your lease. We charge a fee for processing a deed of variation.
Contacting us
For any questions you have about transferring ownership of your home, please contact our Homeownership Team.
Call us on 01234 674070 (9am to 5pm Monday to Friday, exc. Bank holidays) or email [email protected]
