Depending on the type of home you own you could pay rent, service charges, reserve or sinking fund contributions, and management or administration fees.

If you wish to make a payment to us, go to the My home page. 

There is support available if you are struggling to pay your bills. Visit our Cost of living page for more information.

Rent 

Although you are a homeowner, you may have to pay rent. 

Shared ownership rent

Shared ownership rent is initially set when the property is first built or acquired by us and is then reviewed annually using a formula set in the shared ownership lease. 

When you buy a shared ownership home, you pay rent on the share that LiveWest still owns. This rent is capped at no more than 3% of the value of the unsold share at the time of your initial purchase.

The government allows shared ownership rent to increase each year, based on the terms set out in your lease. This is usually between 0.5% and 2% plus the Retail Price Index (RPI). However, LiveWest, took steps to keep things more affordable by removing the additional percentage increase above RPI, meaning your rent will only rise in line with inflation (RPI) each year.

Newer leases specify rent increases must be limited to Consumer Price Index (CPI) plus 1%.

It’s important to understand what your rent covers. Unlike traditional renting, shared owners are responsible for all repairs and maintenance in the home—no matter how much equity you own. This includes things like annual boiler servicing and keeping up with general maintenance and repairs. Keeping records of this work can also help if you decide to sell your home in the future.

Your monthly rent helps cover the cost of LiveWest financing the part you haven’t yet bought. Even after your mortgage is paid off, you’ll still pay rent unless you choose to staircase to 100% ownership.
Shared ownership rent isn’t the same as rent in a typical landlord-tenant arrangement. It doesn’t include repairs or maintenance, as your lease is fully self-repairing. That means the responsibility for looking after your home rests with you.

If you buy more shares in your home, via a process called staircasing, your rent will reduce in proportion to the amount you purchase. The more shares you own, the less rent you pay. You can find out about buying more shares here.

Ground rent

Ground rent is usually paid every year by leaseholders. Your lease will say whether or not you need to pay ground rent. If it is payable, we will send you a payment request every year. Shared owners are sometimes responsible for the payment of ground rent although this is usually only if LiveWest do not own or manage the development, and we are obligated to pay ground rent to the freeholder.

Service charges

You will need to pay a service charge if we provide services or carry out maintenance to your building or estate. It is normally paid every month along with any other payments you make to us. 

Your lease or freehold transfer will give details about what we are responsible for doing and what you are responsible for paying for. It will also say what proportion of costs you are responsible for and how this is payable to us.

You can find more information about service charges here.

Buildings insurance

If we provide buildings insurance for your home or building you pay this as part of your monthly charge to us. You can find more information about buildings insurance here.