Selling your home

Shared owners – selling your share

If you have a shared ownership lease, there are steps you need to follow to sell your home.

Please contact us when to decide to sell, so we can advise you on your options and what you need to do.

If you have a Shared Ownership Wales lease, these are specific steps involved:

1. You will need to get a RICS surveyor to value your home to confirm the price your share can be sold for. We’ll need a copy of the valuation.
2. We may be able to find a buyer – if not, you’ll need to find an estate agent to sell your home.
3. Once you have an estate agent, let us know. We’ll provide them with information about the eligibility for shared ownership.
4. We’ll then need to carry out an assessment on any potential buyers to ensure they meet the Shared Ownership Wales scheme criteria and can afford to purchase. Only a buyer who we have approved can go ahead with buying your home.
5. When we have approved a buyer, we’ll need details of solicitors and we’ll send out a Memorandum of Sale to you, your buyer and both your solicitors – this summarises who the seller and buyer are, the property details and sale price.

We need to approve your buyer’s mortgage offer before the sale completes so that their lender is protected by clauses in the lease.

What happens during a sale

Here’s what to expect when you sell your lease:

• If you’re a shared owner, you will initially speak with us about selling and discuss your options.
• If you’re a Shared Ownership Wales customer, your buyer has to be approved by us before you can go ahead with the sale, which includes their mortgage offer.
• Your solicitor will ask us for information about your property, the building, and the service charges or rent payments. We charge a fee for providing this information.
• Your account needs to be clear with no money owed to us. We’ll let your solicitor know if any rent or service charges are owed and this will need to be paid before the sale completes.
• When the sale has completed, your buyer’s solicitor needs to send us a formal notice to tell us and they may need a certificate from us for the Land Registry. We charge a fee for this.
• There may be service charges due for a period when you were the owner that haven’t been invoiced for by the time you sell. We’ll tell your solicitor about these and they should ensure they agree with the buyer how this will be dealt with. Often the buyer’s solicitor will hold some money back to cover invoices that are yet to be issued.