Shared owners and DIYSO

As a shared owner, your lease does not allow you to sub-let your home, but in certain circumstances we may give you permission to sub-let all, or part, of your home. For example, we may allow you to sub-let if you have to move to another area (for example to start a new job) and are having trouble selling your home.

If you wish to sub-let your home, you must:

• Write to us saying that you wish to sub-let your home;
• Get your lender’s written consent to a sub-let (they may charge you for this) and send a copy of this to us.

Please note: your lender may want to charge you a higher rate of interest on your mortgage. You should check with them.

We will then arrange to discuss your request with you. If we give you permission, it will be
subject to the following conditions: 

• You let the property on an Assured Shorthold Tenancy, which includes all relevant conditions of your lease
• The sub-let is for a limited period only, this is usually for six months but can be extended for up to two years
• You get our approval to the rent, which should not normally be more than 10 -15% above the amount you need to meet your mortgage and annual account charges
• You remain responsible for all repairs and all payments
• You provide us with your new contact address and telephone number and
• You provide us with the name of the sub-tenant.

Sub-letting your home can have tax implications.  For further information, advice and helpful leaflets contact the local Inland Revenue office or a Citizens Advice Bureau.