Your charges
Every payment you make helps us to deliver the services that keep your home safe, secure and well looked after. This page breaks down what you’re paying for, how it’s worked out, and what happens if anything changes.
Managing your payments
The easiest way to manage and pay your rent and charges is via Direct Debit. You can set one up and view your payment account on My Sparrow.
Service Charge Actuals 2024-2025
Every February, you will receive an estimate statement based on what we expect your service charges will be for the upcoming financial year (April - March). You then pay this amount every month.
The following September (after the financial year finishes), we compare our estimate to what it actually cost to deliver the services – known as service charge actuals.
In September 2025, you will receive a breakdown for the services delivered by Sage Homes, your previous shared ownership provider, between 1 April 2024 and 31 March 2025.
We never profit from service charges. You only ever pay for the services delivered.
If we've spent less than what we estimated, we’ll credit your rent account.
If you pay by direct debit, your November payment will be reduced by the amount owed. If your account is in arrears, we’ll use the credit to reduce what you owe.
If it's more than what we estimated, we’ll add the amount to your rent account.
If it’s less than £150, it’ll be added to your November payment.
If it’s more than £150, we’ll spread the cost: £150 in November, then monthly until the balance is cleared.
If this repayment plan doesn’t work for you, please get in touch and we can help.
Your service charge
Your service charge is a monthly payment that helps keep your home safe and your shared spaces well maintained. It’s separate from your rent or mortgage.
The amount you pay depends on your property type and the services you receive. You’ll find full details in your lease agreement, but it may include:
This covers the cost of having your property’s year-end accounts checked by an independent expert. It’s best practice and gives you peace of mind that all the costs listed in your year-end accounts are accurate and fair.
We charge this fee to cover the cost of working with the external agent who helps manage your estate — making sure services run smoothly and your shared spaces are well looked after.
Protecting your home against structural damage. Building insurance is a legal requirement for homeowners with a mortgage. Because Sparrow still owns part of your home, we arrange this cover for you – working with specialists to get the best value and protection. Our policy covers thousands of homes, so you benefit from strong cover at a competitive rate.
Like stairwells, hallways and entrances.
Keeping shared parts of your building working and in good condition.
Including alarms, emergency lighting, dry risers and fire door checks.
Where applicable.
Including fire safety, water testing, electrical inspections and compliance repairs.
Keeping shared outdoor areas clean and safe, including grass cutting and path clearing.
This is the cost for Sparrow managing your home. It covers things like preparing your actual and estimated charges, managing your lease, setting up services when needed, and answering your questions.
Fees paid to external agents who manage your estate’s services.
A sinking fund is a non-refundable reserve set aside for large, planned capital improvements to your building or estate over time. It’s not used for emergency or reactive repairs, but for future investments that protect and enhance the long-term value of your home.
Including bulk rubbish removal, bin maintenance and additional collections.
Such as communal electricity, water or telephone lines.
Your rent
Your rent is based on the share of your home that Sparrow owns. If you buy more shares through staircasing, your rent will reduce. If you reach 100% ownership, you’ll stop paying rent altogether.