Selling, letting and buying further shares in your home
If you are thinking of selling, letting or buying further shares in your home then please consult our frequently asked questions below.
If you own a share in a shared ownership property, you will be able to buy further shares in the property, up to a maximum level, as detailed in your lease. This is known as stair casing.
Your shared ownership lease will give you the details of the maximum amount of the property you will be able to purchase. It will also tell you how many shares can be purchased at any one time.
As with any property purchase, this is a legal process and we advise you to get independent legal advice to assist you.
If you are intending to sell your share of a shared ownership property your shared ownership lease will include details as to the process.
In most shared ownership properties this will require you to notify us in writing of your intention to sell the property. This will allow us a period of time to advise you of any potential purchasers we may hold on our waiting list.
As with any property sale, this is a legal process and we would advise you to get independent legal advice to assist you through the process.
If you intend to sell your leasehold flat please contact the Leasehold and Service Charge team to let them know.
It would be really helpful if you could confirm the details of your solicitor. As part of the sale process either your solicitors or the solicitors of your purchaser will need to contact us to obtain information about the property.
If you are selling your leasehold flat within 5 years of purchasing it under the Right to Buy scheme, you may have to repay some of the discount you received when you bought the property. The details of this requirement can be found in your lease agreement.
As with any property sale, this is a legal process and we advise you to get independent legal advice to assist you through the process.
The details as to whether a property can be sublet or not will be contained in your lease agreement.
If your lease does allow the property to be sublet, there is usually a requirement to either notify or get written permission from ourselves.
Should you be able to sublet the property you will still be responsible for the property under the terms of your lease agreement and our relationship will remain with you, as the leaseholder and not your tenant.
We would need you to provide us with details of your new address, phone number and email address so we are able to contact you.
We would also need you to provide a copy of the tenancy agreement you intend to use.
If we haven't answered your questions then please don't hesitate to contact us.