Reselling a shared ownership property
If you would like to sell your shared ownership property, please contact us. As your landlord we have the right to market your property first for six to eight weeks, depending on what your leases says.
The first thing to do is to get a valuation carried out by a Chartered Surveyor (RICS). For Bracknell residents, we can do this for a fee or you can organise a valuation yourself.
Once the valuation is agreed and you wish to proceed, please write to us to confirm and include a copy of your Energy Performance Certificate (EPC), which is a legal requirement when marketing properties. An EPC last for 10 years from the date of issue.
You also need to email photographs of your home, for example different rooms, garden, parking so they can be used in the advertising and marketing. Please email information and photos by clicking here.
We will register your property on Help to Buy South, which sends an email automatically to all the registered applicants interested in your type of property. We will deal with all the initial enquiries and viewings will be done in line with your wishes.
Any interested applicants must pass a financial assessment and supply all the required documentation before the property can be offered. The valuation price is non-negotiable. The offer will be confirmed in writing to all parties and, once all the solicitors details are supplied, will be passed to the solicitors for completion.
If there are no interested applicants in the marketing period, we will write to you to let you know that you may go to an estate agents to market your property.
You will be responsible for various fees depending on the terms in your lease agreement.
Buying a pre-owned shared ownership (resales) property
You can apply to buy a shared ownership property if you can't afford to buy on the open market. We want to help people who are in need of housing and whose income meets the costs of buying through the shared ownership scheme.
People applying for pre-owned shared ownership properties (re-sales) will normally be first-time buyers who:
- are not able to buy a similar home outright on the property market
- have a gross household income of up to £80,000 a year when applying to buy property of any size outside of London
- have at least £3,000 in savings to cover legal fees
- have a deposit towards the purchase of the property (in addition to legal fees)
- preferably live or work in the local authority where the homes are available, however there are occasions where pre-owned shared ownership properties can be sold to people outside the area
- all applicants must be registered with the relevant Home Buy agent.
Costs of home ownership
A recommended income level is provided as a guide only. If your earnings are below the recommended level for the property you are interested in but you are able to raise a large deposit, you may still meet the affordability criteria.
You will need to have a financial assessment of your ability to meet the costs of ownership for the property carried out by an independent financial advisor.
You must have been in a permanent job for at least six months or have passed any probation period. If you are self-employed, you'll need to have three years' audited accounts.
It's important you are aware of all the costs associated with buying a property which include but are not limited to, legal fees, stamp duty and deposit. A guide is available by clicking here.
We do not accept 100% mortgages.
Allocating our pre-owned shared ownership properties
Re-sales work on a first come, first serve basis and once you have viewed the property and have supplied the documentation required (as detailed on the Information for Shared Ownership Re-sales sheet) if we receive several applications in any 24 hour period who meet the criteria, applicants will be prioritised in the following way:
- existing social tenants and serving military personnel
- those that will address housing problems in local and regional housing markets as defined by the local authority; and
- other first-time buyers.