What do I do if I want to sell my home?

You may sell your home but you must let us know in writing if you want to move.  Your lease will specify the terms, which usually allow you to either sell the part of the home you own, or if you are able to buy the remaining share you can sell the property outright.  You will benefit from any increases in the value according to the share that you own, but you should be aware that you may also be affected by any fall in values.

Clauses in the lease usually allow us to nominate prospective buyers for your home, and to restrict the sale price to an independent valuation.   The reason for this is that shared ownership homes should remain available to the people for whom the scheme is intended. 

Since 1st July 2024 HHS has introduced fees for shared owners reselling their home (in order to recover some of our costs).

These fees are as follows:

New Resales Customers

  • £750 plus VAT for finding a buyer to be recovered on completion
  • Administration and legal costs of £600 plus VAT on completion

You will also need to appoint a RICS qualified valuer and a solicitor and will have to pay fees for these services.

HHS has a partnership with a specialist shared ownership agency, Red Loft (https://www.redloftproperty.co.uk/) to manage shared ownership resales and staircasing. 

Contact details for enquiries relating to selling your shared ownership home or buying additional equity are: hhs@redloft.co.uk / 020 7539 3745