Selling your home

When you’re ready to sell your shared ownership home, we will market your share for the first eight weeks. This is a clause in your lease, designed to help other first time buyers secure a Shared Ownership home, as you did.

We’ll produce professional photographs and floorplans of your home to show it in its best light and advertise it online and to our database. If we find a buyer for you, we’ll charge a fee of 1% of the value of your share.

If we can’t find a buyer you can choose to let us keep trying or we’ll give you permission to sell your home on the open market.

For more information on how to get started, follow our step-by-step guide and read our FAQs

You can find our resale application form here

Step-by-step guide 

  • Before you begin

    So that we can advertise your home, you’ll need the following documents:

    A valid valuation report – this will need to have been carried out by an independent Royal Institution of Chartered Surveyors (RICS) accredited surveyor.

    A valid Energy Performance Certificate (EPC) – An EPC is valid for 10 years. You can check if you already have one on the EPC Register website. Otherwise you can order one from a UK EPC Provider and send us evidence that you’ve done this.

    A copy of your lease – If you don’t already have a copy, you can get one from the Land Registry. Alternatively, the solicitor who acted for you when you bought your home may have a copy.

    Please note: If your lease has 80 years or less remaining you may find difficult to sell. For further information on lease years, please read our guide: Extend your lease. Alternatively, you can contact our Lease Extensions team on 0203 815 2407.

    Evidence of our consent for improvements (if applicable) – if you carried out improvements and wish to have these considered when you sell, you’ll need to provide a copy of our written consent. We may not be able to consider improvements without this. If you don’t have a copy, contact your Property Management Officer to discuss this.

    We won’t be able to advertise your home without these documents.

  • Step 1 - get a valuation

    You’ll need a valuation of your home carried out by an independent, Royal Institute of Chartered Surveyors (RICS) accredited surveyor.

    You can use one from our panel, but you don’t have to. If you choose to instruct a surveyor who doesn’t appear on our panel, please let us know so that we can provide them with a copy of our valuation report guidelines.

    The surveyor will ask you about the number of years left on your lease, your rent and any service charges.

    If you’ve made improvements to your home, the surveyor will need to assess these separately in the report. You must have had our permission to make these improvements or they may not be considered when you sell. For information on home improvements, please read the home improvements guide.

    You can also find out more about how improvements affect your home in our FAQ’s section. 

    You should make sure that you’re happy with the valuation report and that it will be valid at the point of sale before you send it to us. Valuation reports typically expire every three months, so if it runs out before we can advertise your home, you’ll have to pay for another one.

  • Step 2 - instruct a solicitor

    You’ll need to instruct a solicitor to handle the sale of your home. You may want to use the solicitor that you used to buy the home, or you may want to use someone new.

    Whoever you use, we recommend checking that they have experience of dealing with Shared Ownership as this is likely to help the transaction move along more smoothly.

    If you don’t already have a solicitor, we have an independent panel of solicitors that you may find helpful.

  • Step 3 - instruct us

    Fill in the resale instruction form, you will need:

    • A copy of your valuation report
    • Your Energy Performance Certificate (EPC)
    • Proof of consent to any improvements you have carried out (if applicable)
    • A copy of your Lease

     Remember, we won’t be able to advertise your home without all of these documents.

What happens next?

Advertising your home

When we’ve received your instruction, we’ll contact you to agree a date for your viewing. This will need to be around three weeks from when we receive your instruction so we can create your advert, liaise with your local authority and advertise long enough to generate interest.

We’ll put you in touch with our professional photographer, who will need to visit your home to take pictures and produce floorplans. If you choose not to use this service, we’ll still advertise your home, but we’ll only be able to use a stock image.

Your viewing

You’ll carry out your own viewing. Customers who are interested in viewing your home will be able to call our sales contact centre and book an appointment.

Before your viewing takes place, we’ll let you know who’ll be attending and at what time.
You can find hints and tips on how to make the most of your viewing in our viewing guide.


After your viewing

Customers will be invited to let us know if they’re interested in your home.
We’ll forward the details of any interested customers to your local authority so that they can be prioritised. This process can take up to five working days.

We’ll then offer your home to the customer with the highest priority. If they no longer wish to buy your home, we will continue to offer it to customers in order of their priority.

Financial assessment

We’ll ask an independent financial advisor to carry out an assessment to check that the home is affordable for your nominated buyer. We’ll also carry out a telephone interview with them to check they understand the process and the Shared Ownership product that they are buying.

We’ll then instruct your solicitor, the buyers’ solicitor and our solicitor to begin the process of selling your home.

The sales process

Once we’ve instructed solicitors, you and your buyer should liaise with your solicitors to progress the sale. We’ll be on hand to offer advice along the way, but most of the negotiations will be done between you and your buyer.

The buyers solicitor will obtain a copy of your lease and raise leasehold enquiries which forms part of your management pack. So that they can respond, your solicitor will need to get some information from your managing agent.

It’s standard practice for your managing agent to charge an administration fee for this, which you’ll need to pay for. It’s important to do this as soon as possible as otherwise it will slow your sale down.

It usually takes around four weeks for the buyers mortgage offer to come through. Please let your sales consultant know if the buyer hasn’t had a survey of your property after two weeks.

Your solicitor will be able to let you know once all the conveyancing has been completed and you are ready to exchange. Completion of the sale usually takes place five to ten working days after exchange.

The costs

You will need to pay for:

  • A valuation report
  • Your solicitors fees
  • Our solicitor’s fees: Approx. £500
  • NHHO Management pack fee: If NHHO are the freeholder £200 + VAT
    If NHHO are not the freeholder £80 + VAT. If you also require a management pack from an external managing agent there will be an additional charge for this
  • Resale Fee: 1% of your share of the sale price. If we don’t manage to find a buyer for your share and you sell it on the open market, you won’t pay our resale fee, but you will pay your estate agent a fee. The other fees will still apply.

FAQs

  • What if I've already made an offer on another property?

    Remember that as part of your lease, we have a nomination period of eight weeks to find you a buyer for your share.

    We can only start marketing your property when we have received all the required documents and it will take about three weeks from submitting your Resale application until a buyer is attached to your property.

    Therefore the person selling to you must be prepared to wait until we have found you a buyer for your home or you risk losing mortgage and solicitor’s fees if they decide to pull out. Once a buyer is attached the normal selling process will then take a minimum of eight weeks.

  • Why do I have to pay a resale fee?

    This is an administration fee which covers the costs involved in finding a buyer for your property.

    This includes running costs for our advertising campaigns and our database of interested applicants. We charge you 1%(plus VAT) of the market value of your share.

    The amount that an estate agent would typically charge for a similar service is twice our resale fee, making ours excellent value for money. Overall, this fee makes sure that we can continue helping other people onto the property ladder.

  • Why do I have to use an independent RICS certified surveyor?

    We need a valuation from an independent surveyor that has a Royal Institute of Charted Surveyors Certificate because they refer to the government's Red Book which determines the exact value of the property, where as an estate agent assumes the price is open to negotiation.

    Estate agents generally add 10% to the price they think a home is worth so that buyers can knock something off. With Shared Ownership the price is fixed so both sides know what they are getting.

  • What happens if I'm not happy with the valuation?

    We need a valuation from an independent surveyor that has a Royal Institute of Charted Surveyors Certificate because they refer to the Governments Red Book which determines the exact value of the property, where as an estate agent assumes the price is open to negotiation.

    Estate agents generally add 10% to the price they think a home is worth so that buyers can knock something off. With Shared Ownership the price is fixed so both sides know what they are getting.

  • What happens when my valuation runs out?

    Your valuation is valid for three months from the date of your report. After this you can get an updated report if you need to. If you already have a buyer attached to your property and your valuation expires you do not need to get an updated report but, you can if you choose to.

  • Why can't I sell on the open market?

    You were helped to buy your home with public money, which your local authority provides to help people who need housing. One of the conditions of your local authority providing the money was that the home would be offered in the future to the person who needs it the most.

    Just as you benefited, we now have a duty to help other people. We currently have a database of people waiting to purchase a shared ownership home. If you decide to sell your home, it is a condition of your lease that you give us the opportunity to find a buyer from our database first.

  • What if no-one is interested after the first viewing?

    If no-one is interested in your home after the first viewing, we may still be able to help. People join our list every day and we use a number of online portals as well as work closely with the local authority, therefore we would encourage you to hold another viewing.

  • What happens if I can't find a buyer?

    If we still can’t find a buyer, we can give you permission to sell on the open market through an estate agent. We will give you advice if this happens. We want to be reasonable, if we can’t find a buyer, we’ll let you know as soon as we can. You can then choose to sell your share through an estate agent or you may be able to sell 100% of your property. It depends on your lease restrictions.

  • What happens if I sell my share on the open market?

    If you sell your share on the open market, we will want to interview your buyer to make sure they are eligible and can afford the payments on shared ownership. We will explain this further if we give you permission to sell on the open market.

    We won’t charge our resale fee if you sell this way, but you will have to pay fees to an estate agent if you use one. Please note when selling your share only you must only accept the market value price as determined by the RICS surveyor.

  • What happens if I sell 100% on the open market?

    If you sell 100% on the open market, you will need to buy the remaining shares of your property (this is known as ‘staircasing’).

    You don’t have to raise the money yourself; your solicitor will use the money from your buyer on the day the sale completes. We will need a valid valuation report on completion to confirm that the agreed sale price reflects prices on the current market. We won’t charge our resale fee if you sell in this way, but you will have to pay fees to an estate agent if you use one.

  • What happens if there are restrictions in my lease?

    On some homes, you can never own 100% so you won’t have the option of staircasing to 100% and selling on the open market. This only applies to a small number of homes. Your solicitor should have told you about this at the time you bought your home.

Learn more

If you'd like more information about selling your home please call our Resale team on 0203 815 0060 or email resales@nhhg.org.uk