Step into your future home with the new model of Shared Ownership at Gecko Homes.

Your dream home is closer than you think. Thanks to the government’s new model of shared ownership, stepping into a home you'll love has never been easier.

Imagine owning a slice of your home with terms that flex to fit your circumstances – starting with shares as low as 10%, with the option of increasing your ownership by 1% each year for the first 15 years.

Worried about maintenance? Don't be - you can claim up to £500 each year for essential repairs in the first ten years. Start your journey with us today in a place where you want to live.

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What is it?

The new model lease

Under the new Shared Ownership model, for the first 10 years after you sign your lease, you can claim up to £500 for essential repairs on your home. This way, you can enjoy your new home without the stress of unexpected repair bills. (Legal stuff always applies, so check out more detail in our shared ownership T&Cs.)

The new model also extends the term of the lease on shared ownership properties, from a minimum of 99 years to a minimum of 990 years, giving you increased peace of mind.

It’s important you understand the details of your new Shared Ownership lease, so speak to your solicitor during the buying process as they can explain it to you in more detail.

View Our T&Cs
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Peace of mind on repairs

Your £500 per year repairs allowance

We want your homeownership journey to start on the right foot. That's why every home bought through the new Shared Ownership model includes a 12-month builder's guarantee to fix any initial issues right away.

Plus, we give you a £500 yearly allowance for essential repairs during the first ten years. Whether it's a leaky tap or work to keep your home warm and cosy, we're here to make things run smoothly. You could use the money for issues with your water, gas or electricity (like problems with sinks, baths or pipes) or for trouble with your heating, say if your boiler or radiators aren’t working.

You can’t use the allowance for things like installing new kitchen cabinets, hooking up appliances like a new washing machine or oven, or for repairs which would be covered by another guarantee, such as the 10-year NHBC home guarantee that every new property is given.

View Our T&Cs
Examples of repairs you can use your allowance for
  • Issues with your water, gas, or electricity (like problems with sinks, baths, or pipes)
  • Heating troubles (if your boiler or radiators aren't working)
  • Structural support (including windows, doors, or walls)
  • Any administrative fees or insurance excess related to a warranty
Here's what the allowance doesn't cover:
  • Installing fixtures like kitchen cabinets
  • Hooking up appliances that use your gas, electricity, or water, such as ovens or washing machines
  • Any repairs that are already covered by a warranty, insurance, or guarantee

Want to know more about making a claim or our repairs policy? Please email

Haven't spent your allowance?

You can roll over any unused part of your allowance (up to £500) to the next year, but you can't roll it over more than once. The most you can have in your allowance for any year is £1,000. This example shows you how it works:

  Repairs allowance Allowance claimed for repairs Amount rolled out to next year
Year 1 £500 £0 £500
Year 2 £1000 (£500+ £500)  £750 £250
Year 3 £750 (£500 + £250) £0 £500

Every year, we'll send you a statement updating you on your remaining repairs allowance. This statement also includes any information about rent increases, so you can stay up to date and plan as needed. This way, you'll always know where you stand and can enjoy your home without any surprises.

Just a heads up - if you decide to sell your home within the first ten years, any remaining allowance will go to the new owner.

If you have any questions about the new model of shared ownership, speak to your solicitor who can explain what it means to you.

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The Story of Shared Ownership

Imagine a new property as a pie. The full market value is £450,000. And for most, particularly first-time buyers, that's an unaffordable pie. But what if you just buy the pie by the slide, say one quarter? Watch our Story of Shared Ownership to find out more.

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