Resales

When you own a shared ownership property, you have the option of selling just the share you own or selling the property outright (selling 100%).

*your lease will tell you the maximum share of your home you can sell

The process

Here’s a quick overview of the steps in the resales process:

Key information

We’ve got lots of useful information and FAQs on our website that cover things like:

  • Who you can sell to
  • If your home has gone up in value
  • Estate charges
  • Extending a lease
  • Buildings and Contents Insurance
  • Administration Fees
You can find more information here.

Next steps

If you want to go ahead with selling your property, there are a few things to remember:

  • You need to cover the cost for the administration fee to start the process.
  • You’ll need to decide what estate agent you want to instruct, unless you want to sell your home privately.
  • You’ll need to decide if you want to sell your home as a shared ownership or you could purchase the remaining shares and simultaneously sell as 100% outright property.
  • You’ll need to show evidence that you’re selling at market value :-

a) If selling as shared ownership – your buyers mortgage valuation will be acceptable or a RICS Valuation.

b) If selling outright (100%) – you will need to cover the cost for a RICS Survey (if this is the case, you’ll need to allow access to your property within their working hours)

  • You’ll need to instruct a solicitor. It can be a good idea to get a few quotes before deciding on one as some can charge a fixed rate and others by the hour.
  • If you have arrears on your account, you’ll need to pay these on completion. If we pay another provider for service charges, you’ll also be required to pay any services which have been paid in advance.
  • You’ll need to consider moving fees i.e. removal company and you should also take final meter readings on the day completion and update all your utility suppliers.

*Other administration fees may apply. You solicitor will check your legal paperwork and confirm what is required.

Our role

We’ll be there to offer you advice and talk you through the process while you’re still deciding whether this is the best step for you.

If you confirm that you want to proceed and the sale has been approved your solicitor is the best person to contact for updates if you have questions.

However, if you do have any queries throughout the process that you think we’re best placed to answer, we’ll do our best to resolve them. Please note that we aren’t legally trained and some queries will need to be answered by your solicitor.

If you are buying your home outright and simultaneously selling, we’ll get back in touch with you if your valuation expires (this is valid for 3 months from the date the report is written). If a new valuation is required you’ll need to pay for a new report.

Following completion, if you have a credit on your account we’ll refund you within 14 days of receiving your bank details.

Meet the team

If have any queries during the purchasing of additional shares, please contact your Leasehold Officer directly or, if you’re simultaneously selling, please contact the Resales Officer.

You can meet the team on our website.

If you have queries in future or want to enquire about other aspects of your home or the services you pay for, our Housing Advice Team are here to help. You can contact them on 0345 60 20 540.