The long term maintenance charge

The long-term maintenance charge applies only to homes that are shared ownership or outright purchased. This charge is built up over time and enables the Charity to pay for major repairs, replacements and improvements within the Village. 

The long term maintenance charge is 1% of your purchase price per year (or part year), up to a maximum deduction of 10%. There is an additional £750 administration fee.

The ExtraCare Charitable Trust will guarantee to repay your original purchase price minus the long term maintenance charge and £750 admin fee. An illustration of how this works is shown below.

Purchase Cost of Village Home Years Living in the Village Admin Charge 1% per year charge Your Refund

(Sample cost only)

£200,000 1 £750 £2,000 £197,250
2 £4,000 £195,250
3 £6,000 £193,250
4 £8,000 £191,250
5 £10,000 £189,250
6 £12,000 £187,250
7 £14,000 £185,250
8 £16,000 £183,250
9 £18,000 £181,250
10 £20,000 £179,250

Please note: You will need to check arrangements at the particular Village you are applying for. Arrangements may vary in locations where The ExtraCare Charitable Trust operates the Village with another housing partner.