# SHARED OWNERSHIP LEASE
Date: 1 April 2029
Parties: Northfield Housing Association Limited and Emma Jane Green
## 1. Parties and purpose
Northfield Housing Association Limited (Company No. 06781234, Registered Provider No. L4587) grants Emma Jane Green a 125-year lease of Flat 14, Rowan Court, 18 Catesby Road, Coventry CV3 2LA, registered at HM Land Registry under title WM445566. Emma receives exclusive possession subject to the lease and the estate regulations.
## 2. Scope, price and subject
The open market value certified by RICS valuer Daniel Price on 12 March 2029 is £240,000. Emma purchases a 40% share for £96,000 and pays Northfield initial rent of £440 per month on the retained 60% share, plus an estimated service charge of £138.50. No ground rent is charged; rent is reviewed each 1 April under the stated shared-ownership formula.
## 3. Operating duties
Emma must use the flat as her only or principal home, pay rent and service charges by standing order, keep the interior in good repair, obtain consent for structural alterations, and not assign, sublet or grant a licence without the lease and Northfield requirements. A mortgage lender's consent is required for a transfer or further charge.
## 4. Compliance, records and controls
Northfield maintains the structure, roof, external envelope and common parts, arranges buildings insurance and supplies annual service-charge accounts. Major works costing more than the applicable statutory threshold require consultation under section 20 of the Landlord and Tenant Act 1985. Emma must permit reasonable access on 48 hours' notice, or immediately for an emergency.
## 5. Term, ending and remedies
Emma may staircase by buying additional shares of at least 10% (or the lower tranche permitted by the current scheme rules), using a fresh RICS valuation and paying Northfield's capped legal and valuation costs. On a 100% staircase, Northfield will transfer the freehold where legally available or surrender and regrant the lease. Before a sub-100% resale, Northfield has an eight-week nomination period; it must not obstruct an open-market sale after that period.
## 6. Liability and reservations
Failure to pay rent, persistent nuisance, unlawful subletting or serious disrepair is a breach. Northfield must serve the notices required by the lease and law, and forfeiture requires a court order; Emma may seek relief. Neither party may contract out of mandatory housing, consumer or leasehold protections, and the rent or service charge must be reasonably and transparently accounted for.
## 7. Governing law and signatures
The lease is governed by the law of England and Wales and subject to the jurisdiction of its courts, with registration at HM Land Registry. Northfield's authorised signatory Priya Shah and Emma sign on 1 April 2029 after Emma received the key information document and was advised to obtain independent conveyancing advice.