Has anyone extended a shared ownership lease informally with Peabody?

Curious_Mo

Hi everyone,

I'm looking to hear from anyone who has experience of extending a shared ownership lease informally with Peabody.

I'm particularly interested in people who were still a shared owner rather than owning the whole property when they applied for the extension.

I'd be grateful if anyone who has been through the process could share their experience, particularly:

Did you successfully extend the lease?

Was it handled by Peabody directly?

How was the lease-extension premium calculated?

Were you charged the whole premium or only the proportion relating to your share?

Did Peabody explain how they arrived at the amount?

Did you use Peabody's informal process or another route?

Roughly how long did the process take?

Were there any particular difficulties or negotiations involved?

If your property was originally a Catalyst shared-ownership property, did your experience differ?

I'm especially interested in first-hand experiences from people who have actually gone through the process, rather than general advice. If anyone has old correspondence, valuation information or other documentation, it would also be really useful to hear about it.

Personal information can obviously be removed/redacted.
I'm not looking for legal advice — I'm simply trying to understand how Peabody has dealt with shared-owner lease extensions in practice.

Thanks in advance to anyone who can share their experience.

Jude57

https://forums.moneysavingexpert.com/discussion/6682820/has-anyone-extended-a-shared-ownership-lease-informally-with-peabody

I can't answer your very specific questions and I suspect few others here can, either, which is probably why you had no replies when you originally posted this a few days ago. Many of your questions should rightly be directed to Peabody and I'd be surprised if they don't have a documented process in place for lease extensions. Have you contacted them direct? According to their website, it's the Home Ownership Approvals team you need to speak to.

mlz1413

I agree with Jude57, this is so specific it is unlikely you will find someone in exactly the same situation.

And you say you don't want general advice too. Which suggests you have done lots of your own research.

Maybe asking just how shared ownership lease premiums were calculated would help?

As it maybe that calculation is the same regardless of the housing association