Homeowner
Frequently asked questions for shared ownership homeowners
| What does ‘going into administration’ mean? | Going into administration means the companies are being taken under the management of an administrator (a licensed insolvency practitioner). The administrator assumes control of the Companies from the current directors. Administration is one of a number of insolvency processes. |
| What is an administrator? | An administrator is a licensed insolvency practitioner, an officer of the Court and is qualified to manage the affairs of a business when it is insolvent. It is their role to take control of a company’s affairs when it is in financial difficulty and try to find a longer-term solution for it. |
| Who are the administrators? | HH No.1 New Holdings Limited ('HH1NH'), HH No.1 Holdings Limited ('HH1H') and HH No.1 Limited ('HH1') The administrators are David Baxendale, Peter Dickens and Iain Boot of PricewaterhouseCoopers LLP. HH No. 5 Limited (‘HH5’) The administrators are David Baxendale, Edward Williams and Alison Grant of PricewaterhouseCoopers LLP. |
| What does it mean that the Companies have gone into insolvency? | It means the company that owns part of your property is in financial difficulty and a formal process is being followed to sort out its finances It is important to know that your landlord, Heylo Housing Registered Provider Limited (“HHRPL”) has not gone into administration. HHPRL is a company within the Heylo group but does not form part of the administration. HHRPL will continue carrying out its duties as landlord. A specialist person (an administrator in this instance) has been appointed to manage the Company’s affairs. Their job is to take over day to day running of the Companies and work to ensure continuity of services for Heylo residents. It does not mean you will lose your home, and it does not mean your position has changed in any way. |
| Do I still own my share of my home? | Yes. You still own the percentage of the property you bought. Insolvency of the housing Companies does not impact your ownership. Your lease remains legally valid and will not change as a result of the administration. |
| Do I still have to pay my rent and service charges? | Yes. You should continue paying all sums due under your lease in the same way as you were before. You must continue to:
If you stop paying, you could risk falling into arrears, which may breach the terms of your agreement. If you’re unsure where to pay, contact Heylo customer care team on customercare@heylohousing.com |
| Who do I contact now? | Please contact Heylo as usual on customercare@heylohousing.com. |
| Could I lose my property because of this? | The insolvency of the Companies does not impact your position and you will not lose your property because of the insolvency. However, you should continue to:
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| Will my rent increase? | Your rent will not increase because of the insolvency. Your rent can only increase in line with the terms in your lease agreement. |
| What happens to repairs and maintenance? | Nothing has changed in this regard, if Heylo (or your managing agent in blocks of flats) is responsible for any repairs, this will continue. |
| What happens to my building insurance? | For houses, Heylo will continue to provide buildings insurance. For flats, this is arranged by the managing agent, and you should check with them. |
| Can I still sell my share of the property? | Your right to sell your share is not impacted by the administration appointments. |
| Can I buy more shares (staircasing)? | Yes, you are able to staircase in the usual manner. |
| I am in the process of staircasing, what happens now? | If you are already in the process of staircasing, contact Heylo Resales & Staircasing team on resales.staircasing@heylohousing.com |
| I am in the process of buying a shared ownership property, does this change the position? | You can continue with your sale or purchase. |
| I am in the process of selling my share of the property, what happens now? | If you’re already in the process of selling your current share and need an update, please speak to Heylo Resales and Staircasing team on resales.staircasing@heylohousing.com. |
| What happens if the housing company is sold to another provider? | If another housing asssociation or registered provider of social housing takes over as your landlord:
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| What happens to service charges I’ve already paid? | Service charges already paid should still be used for their intended purpose. |
| What if the company owes me money? | We do not expect this will be the case, as there is no contract between you and the Companies which have entered into administration. Information for creditors of the Companies can be found the case website www.pwc.co.uk/heylo Please be aware that in an administration process, it is not always possible to repay all amounts owed in full. This does not affect your home or your lease.
This is only in relation to the companies stated below (i.e. the Companies). If you are owed money from another company, you will need to speak to that company. HH No.1 New Holdings Limited ('HH1NH'), HH No.1 Holdings Limited ('HH1H'), HH No.1 Limited ('HH1') and HH No. 5 Limited |
| What if I'm worried or struggling financially? | We understand this may be a concerning time. You can contact:
If you are struggling to pay, seek help early. |
| I have a health and safety or buildings safety act concern? | Please contact your management company or contact Heylo at customercare@heylohousing.com.
Please also inform the Joint Administrators by email to uk_hhpod1queries@pwc.com or uk_hhpod5queries@pwc.com |
| Should I stop paying until things are clearer? | No. Stopping payments can:
Always continue payments unless you receive clear legal instructions otherwise. |
| How long will this process take? | Administrations as standard last for one year, but can be extended if required. We do not anticipate that this administration will need to be extended. If a sale or transfer of the Landlord’s interest in your lease occurs, you will be notified by either the Administrators or the purchaser. |
| Where can I get official information? | You can:
Make sure information comes from official sources. |
David Baxendale, Peter Dickens and Iain Boot have been appointed as Joint Administrators of HH No.1 New Holdings Limited ('HH1NH'), HH No.1 Holdings Limited ('HH1H') and HH No.1 Limited ('HH1') to manage their affairs, business and property as agents and without personal liability. David Baxendale, Edward Williams and Alison Grant have been appointed as Joint Administrators of HH No. 5 Limited (‘HH5’) to manage its affairs, business and property as agents and without personal liability.
The Joint Administrators are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The Joint Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators appointment. Further details are available in the privacy statement on the pwc.co.uk website or by contacting the Joint Administrators.
