Shared Ownership - High Rent Increase

Scooter_1978

Hi there, I wondered if anyone has ever had any success challenging annual rent increases in shared ownership?

I'm with A2 Dominion and every year they put the rent up they maximum possible. They say they can raise rent annually in line with CPI (as per my lease) and they calculate the CPI the previous September for the following April.

I just find it so frustrating that we're meant to be in affordable housing and between the horrific service charges (that's another story) and the annual high rent increases it's so difficult to stay on top of your finances.

user1977

If you agreed in your lease that it would be indexed with CPI, not sure what the grounds for any challenge would be if that's all they're increasing it by?

Jmp0001

That's one of the issues with shared ownership unfortunately it's normally in your leaseholder agreement. The worst of both worlds as you are hit by CPI increases of rent & interest rate increases on mortgage

Plus the rent is money down the drain as you have to pay for all repairs in your property and the communal areas.