Rent
Shared owners make a payment each month. This amount is made up of rent, buildings insurance, management fee and, in some cases, a service charge.
The rent on New Build HomeBuy is subsidised to make it affordable and is payable via Direct Debit. It makes purchasing a New Build HomeBuy property approximately 30% cheaper than buying outright.
Shared owners make a payment each month. This amount is made up of rent, buildings insurance, management fee and, in some cases, a service charge.
How will my rent change?
You will be advised of your rent and the date it is due at the beginning of your residency. You are required to pay your rent on time. The rent will change yearly and prior notice of any change will be given.
Paying Your Rent
Your rent should be paid by Direct Debits or bank standing orders.
Dealing with Rent Arrears
Your home could be reposed if you don’t pay your rent. Please contact Mercian immediately if you have difficulties in meeting payments.
Debt advice
If you are worried about being unable to pay your debts you must ask for help. Please contact Mercian.