Costs to purchase your home
If you decide to purchase your new home, you will need to decide if you pay for it outright, or if you need a mortgage. You may pay slightly higher rates if you get a mortgage, as only some brokers offer lifetime mortgages. If you would like an introduction, please speak to your Customer Advisor.
Stamp duty taxes and solicitor fees will also need to be paid as per any property purchase. Pegasus Homes will contribute towards your legal costs if you choose a solicitor from our recommended panel. For more information, see our page ‘moving support’.
Once you have purchased your home, you will need to contribute to the service charge each month. Costs vary depending on what community you choose, but you should expect to pay at least £250 per month. For more information on service charge, see our page ‘service charge explained’.
Some of your usual household outgoings will still apply at a Pegasus Homes community. Whilst everything outside of your apartment is taken care of through the service charge, you are still responsible for costs within your apartment such as council tax, utility bills and contents insurance.
When you reserve a property with Pegasus, you will need to pay a reservation fee to secure your preferred apartment. If you are purchasing your new home, the reservation fee is £1,000. You will then be required to pay a 10% deposit upon exchange of contracts plus three months' service charge to be paid in advance. The balance less the reservation fee and exchange deposit is then payable upon legal completion.
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Costs to rent your home
If you choose to rent your new home, you only pay one amount each month. The payment includes your rent plus all associated costs to manage and maintain the community (what purchasers would contribute to the service charge).
Some of your usual household outgoings will still apply at a Pegasus Homes community. Whilst everything outside of your apartment is managed by us, you are still responsible for costs within your apartment such as council tax, utility bills and contents insurance.
When you reserve a property with Pegasus, you will need to pay a reservation fee to secure your preferred apartment. If you are renting your new home, the reservation fee differs depending on the monthly rent. Rent up to £2,000 per month requires a £350 deposit, rent between £2,001 - £3,000 requires a deposit of £450 and if the monthly rent is in excess of £3,000 per month, the deposit is £650. In addition, one month's rent is required in advance. The deposit is then subtracted from the first rental payment.
View our apartments for rentUnderstanding the costs involved
We believe in total financial clarity at every stage. See exactly what your service charge covers, and enjoy total peace of mind knowing we never charge exit or deferred management fees.
Services charges explained
Understanding your service charges should be easy. Discover what you’ll pay, what’s included and how we keep pricing clear and transparent.
Exit fees
Unlike some later living options, our leasehold homes come with zero exit or deferred management fees. What you own stays yours, with no surprise costs or hidden percentage deductions when it comes time to move on.
