30-year plans to maintain your home

If you’re a leaseholder or shared owner and you live in a block of flats, you’ll know that it’s your responsibility to contribute to the maintenance of the building you live in.

To help you to plan for any repairs or maintenance over the coming years, we’re developing a detailed plan for your building which will show you what work will need to take place over the next 30 years, when the work will need to take place and how much it’s likely to cost.

To help you to plan for these costs and to avoid having to pay out large sums of money in the future, most blocks will have a sinking fund. Sinking funds are used to cover the costs of major works, maintenance and any repairs if there is enough money in them to do so.

Developing a 30 year plan for your home is a long term on-going project, and if you have any questions please get in touch with the home ownership team on 0333 400 8222.

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