Costs associated with using
Your Home gradual homeownership

Investing in a property with Your Home is just like buying a house, meaning there are additional fees to consider on top of the property price. That’s why, to be as transparent as possible, we have put together a list of all the gradual homeownership costs you can expect when getting on the property ladder with Your Home.

These will need to be budgeted for when you start your application with us, and a full set of costs will be provided once you’ve been approved for Your Home.

Gradual homeownership solicitors fees and valuation fee

These are two one-off fees that you’ll need to pay once your offer has been accepted and a Memorandum of sale has been produced.

The first of these will be solicitors fees. You’ll need to appoint legal representatives who know this area of the housing market, as it differs from the standard house buying process.

You’re completely free to choose your own solicitors, but Your Home can also recommend experienced solicitors who have a clear understanding of Your Home gradual homeownership.

Secondly, there’s a valuation fee. You’ll need to complete a RICS Level 2 Home Buyers Report, and the valuation needs to be in line with the agreed purchase price. As long as there are no serious safety issues highlighted in the results, or potential problems that could cause severe long-term damage to either yourself or the property, then you’re good to go!

Pre-Completion Costs	Amount to budget for	Frequency
Solicitors Fees	£800 - £1,500+VAT	One off
Valuation Fee	£400 - £1,000+VAT	One off

Gradual homeownership deposit

Look at this as the most important part of the process. On exchange, after all solicitors have approved the contracts and signed them, we require at least 25% of the full property price.

Once you’ve paid for this, you’re legally committed to buying the property.

Costs on Exchange	Amount to budget for	Frequency
Deposit	Minimum of 25% of full property price	One off

Gradual homeownership stamp duty

Another part of the homeownership costs is the Stamp Duty Land Tax (SDLT) that will need to be paid upon completion. This is entirely dependent on the property value and whether you are a first-time buyer.

Your solicitor will be able to advise you if SDLT is due on your purchase.

Costs on Completion	Amount to budget for	Frequency
Stamp Duty Land Tax (SDLT)	Dependent on property value	One off

Gradual homeownership building insurance

While Heylo (your landlord) are the ones responsible for arranging the building insurance for your home while you pay rent, you will need to pay an apportioned insurance premium from your completion date until the end of the policy, which will be added to you monthly payments (rent, lease management fee, etc).

Costs on Completion	Amount to budget for	Frequency
Building Insurance	Dependent on property value	On completion, then monthly or annually

Gradual homeownership rent

Speaking of rent, the first payment will need to be paid on completion and then monthly after that.

This will be worked out as 4.89% per year of the value of the share of the property you do not own, paid monthly over the year. The rent will increase yearly by 0.5% plus the Retail Price Index (RPI). This means that if the RPI is negative or at 0%, your rent will only increase by 0.5%.

Costs on Completion	Amount to budget for	Frequency
Rent	4.89% of unsold share value	On completion then monthly

Other costs on completion

As well as stamp duty, building insurance and rent, there are a few other costs to budget for, including the product fee owed to Your Home and the remainder of your agreed deposit.

Costs on Completion	Amount to budget for	Frequency
Product Fee	£1800	One-off
Deposit	Remaining funds due to purchase your share (min 25%)	One-off
Lease Management Fee	£25.73 (£26.42 from April 2025)	On completion, then monthly