Once you've moved in
So you’ve moved in and enjoy living in a place of your own.You may require information on repairs and maintenance or you may be interested in purchasing the whole property.Here’s some information to help you with those questions.
Repairs and maintenance
As you own your house, you are responsible for all repairs and maintenance to the inside and outside of your home. However, you will be covered by the National House Builders Council ‘Buildmark’ warranty and insurance for all structural matters.
Alterations or improvements
You do not need our permission to redecorate or to carry out simple repairs, but you will for anything more complicated such as an extension to the property.Please note that any alterations or additions you make to the property will be discounted for valuation purposes, provided permission was granted from Newydd.
Increasing your share of the property
Subject to confirmation there will be the ability to ‘staircase’ within the scheme where you can buy additional parts of Newydd’s retained equity. This will mean you have the ability in time to own 100% of the equity share.
Selling your property
When you wish to sell your property you must firstly contact Newydd who retains the right to purchase the property back, if you choose to sell. If Newydd choose not to exercise this option then working in partnership with the Vale of Glamorgan Council, Newydd will endeavour to find a buyer from the Aspire2Own waiting list. Timescales for this process will be set out in your legal documentation.
If there are no suitable purchasers identified for the property within the timescales then you will be free to sell your property unrestricted on the open market. As set out in your legal documentation there are procedures to follow with regards to providing a formal valuation report for Newydd’s approval prior to a sale taking place. The retained equity share will need to be re-paid to Newydd at the point of sale being 30% of the prevailing market valuation.