Discover the future of Shared Ownership with OX Place
Welcome to a fresh start in finding your dream home! With the government’s 2021 launch of a new Shared Ownership model, it’s now easier and more flexible than ever to step into a place you’ll want to call home. Imagine owning a piece of your home with terms that truly understand your needs – from a minimal 10% initial share to the option of gradually increasing your ownership in 1% increments for the first 15 years.
Plus, we’ve got your back with up to £500 yearly support for essential repairs in the first decade. At OX Place, we believe in making home ownership a reality for everyone, blending tradition with innovation. Start your journey with us today, creating warm, welcoming spaces where memories are made.
About the new model lease
The new model shared ownership lease introduces a 10-year period from the date of the lease while the home remains shared ownership during which Oxford City Council are responsible for repairs to the external fabric of the building and structural repairs inside the home.
We will not pass any expense on to leaseholders or use sinking fund contributions for the cost of these repairs.
Welcome to your new OX Place home – Your Comfort Our Priority
At OX Place, we’re all about starting your homeownership journey on the right foot. That’s why when you buy on the new Shared Ownership model, your new home comes with a 12-month builder’s guarantee to address any snags from day one – giving you peace of mind. Plus, we’re setting you up with a £500 yearly repairs allowance for the first decade, focusing on essential home maintenance. Remember, from fixing a leaky tap to ensuring your home stays cosy, we’re here to support you. Planning any upgrades? Just chat with us first. comes with a 12 month minimum builders guarantee.
Your £500 repairs allowance
Embarking on the adventure of homeownership means more than just a set of keys – it comes with a special yearly budget of £500 for maintenance, keeping your home in top shape for a full decade. This handy allowance is designed to maintain essential fixtures and fittings, ensuring the smooth operation of your home’s fundamental systems.
Embarking on the adventure of homeownership means more than just a set of keys – it comes with a special yearly budget of £500 for maintenance, keeping your home in top shape for a full decade. This handy allowance is designed to maintain essential fixtures and fittings, ensuring the smooth operation of your home’s fundamental systems.
Here’s what it covers:
- Supply water, gas or electricity – for example sinks, baths or pipes
- Heat your home, for example, a boiler or radiator
- Support the structure of the building e.g. windows, doors or walls
- Any administration fee or insurance excess in respect of a warranty may be claimed
It does not include:
- Installing other fixtures (such as kitchen cabinets) and fittings
- Installing appliances that use your gas, electricity or water supplies, such as ovens or washing machines
- Works cannot be claimed in respect of any work that is covered under a warranty, insurance policy or guarantee
For a detailed guide on making a claim or more about our repairs policy, please visit the Oxford City Council website by clicking here.
Unspent allowance
You can carry any unspent allowance (up to £500) into the following year but cannot roll it over again. The maximum allowance in any one year will be £1,000. Please see the table below for an example of how this work:
Oxford City Council (our parent company at OX Place) will send an annual repairs allowance statement, so you can keep track of your remaining allowance.
Please be aware that if you sell your home within the first ten years, the remaining balance will transfer to the new shared owner of the home.