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Selling a Shared Ownership Property? Process Explained

Looking to sell your shared ownership home?

Whilst shared ownership is a great way to get your foot on the property ladder, it can make the matter of selling a little complicated. As the ownership of the property is split between the homeowner and the housing association, it means selling is not as straightforward as your typical house sale. 

On this page, we will be looking at what shared ownership is, the selling process, and how we can help you sell your home in as little as 7 days. 

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What is a shared ownership property?

Originally introduced as a way to help would-be homeowners get their feet onto the property ladder, shared ownership properties are partly owned by the home buyer, and partly by the housing assassination. The percentage of the property that you own varies from 25%-75% for first-time buyers, a mortgage is paid for the share that's owned and rent is paid to the housing association for the part of the property that they still own. 

As the mortgage is only paid for the share that is being bought, it means that the deposit is less and easier to obtain than it would be with a typical house purchase. 

If you decide you would like to increase the share you own, you can do this through a process known as 'staircasing'. This means once you own 100% of the property, you will only be required to pay the mortgage instead of rent as well. 

Can I sell my share of shared ownership property?

The good news when selling a shared ownership home is that you can sell your home at any time. There is no minimum time that you must have owned your home or a share of your home. 

If you own 100% of your shared ownership then you will be able to sell it on the open market. 

If you haven’t staircased to 100 % of the property, then you must inform your landlord when you want to sell. This is so your landlord has time to find a buyer for your share of the property. 

It is worth noting that if your property has a 'designated protected area - mandatory buyback' lease then you will not be able to sell on the open market. If you are unsure if your property has this lease, you will be able to check your key information document to find out. If your property has this lease your landlord will either buy the property or will arrange for another buyer to purchase it. 

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What criteria must you meet in order to purchase a shared-ownership home?

As will have been the case when you originally purchased your shared ownership home, any potential buyers of your property will have a criteria they need to meet. In order to buy your shared ownership home, they must: 

  • Have a household income of £80,000 per year or less (or £90,000 or less in London)

  • Be unable to afford a mortgage or deposit for a property that suits their requirements 

Your potential buyer must also meet one of the following requirements: 

  • Previously owned a home but are unable to afford to purchase one now

  • Own a shared ownership property and are looking to move to a new property 

  • Are already a homeowner but are unable to afford a new property that will meet their requirements

  • Are a first-time buyer

  • Are looking to start a new household after a relationship breakdown or relocation 

Shared ownership selling fees

When it comes to selling shared ownership, there are numerous fees you may have to get to grips with. The amount you will pay in fees and what fees you will pay vary from housing assassination to assassination. However, these are some of the fees that you may have to get to grips with when you sell your shared ownership home: 

  • Marketing fees - £350 - Your housing assassination is in charge of the marketing of your property as they search for a new buyer. This fee is often a non-refundable fee or it may be deducted from the assignment fee. This fee will cover the cost of general marketing materials, such as floor plans, images, and advertisements. 

  • Valuation fee - £250 - The exact amount you will pay in valuation fees will vary depending on the value of the property. It is the cost of the RICS surveyor valuing the property. The average cost you can expect to pay will be around £250. 

  • Legal fees - £500 - Legal fees will vary from house sale to house sale, but you may find that you will be required to pay not only your legal fees for the sale but also the legal fees of the housing association (£500). The exact figure will differ depending on circumstance, but you could end up facing a bill of around £1,000. 

  • Leasehold information pack - £200-£300- This is an information pack that is given to potential buyers to inform them in greater detail about the property. It covers any relevant information about ground rent, the length of the lease service charges, sinking fund, and any future maintenance plans that are planned. 

  • Energy Performance Certificate (EPC) = £60-£120- If the property that you are selling is more than 10 years old, you will more than likely need to rearrange for a new EPC. They are a legal requirement and will inform potential buyers about the energy efficiency of the property. 

  • Assignment fee -This fee will not need to be paid unless your property sells. It is usually between 1%-1.25% of the property's value. The rest of the charges on the list you will be required to pay, even if you do not end up selling. 

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Advantages of shared ownership 

As with any buying decision, there are pros and cons to purchasing a shared ownership property. The main advantages it brings are: 

  • It is far easier to secure a mortgage on a shared-ownership property
  • Transparent icon with white lines representing fees
    You only require a small deposit depending on the share that you are purchasing 
  • Transparent icon with white lines representing inheritance
    You can sell your share back whenever you want 

Shared ownership offers an alternative route to home ownership, allowing people to start small and gradually staircase their way to homeownership. 

What is the bad side of shared ownership?

Whilst there are certainly advantages to shared ownership, there are also disadvantages. The biggest downside to shared ownership property is that on top of paying for your mortgage, you still have monthly rental payments to make. 

You will also still face charges that you would have to pay if you were simply renting your property. This means on top of your mortgage and rental payments, you will also still need to pay utility bills, ground rent, service charges, council tax, repairs and others. No matter the share that you own of your property, you will be required to pay these. 

Another disadvantage is that shared ownership homes are leasehold. Whilst this is not a problem if there is a lot of time remaining on the lease, if you have a shorter lease this can become an issue when selling. 

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The selling shared ownership property process explained

Whilst the process of selling your shared ownership house will vary slightly from housing association to housing association, the process will typically look a little like this: 

Check the lease

The first step of selling your shared ownership house is to check the lease. Your lease holds all the information about your property, such as how to work out the value of your share or home, who is responsible for what costs., and any restrictions you may have on selling. It will also highlight the procedure you will need to take when selling. 

It may also include information on the "nomination period". This is the amount of time that the housing association will be able to exclusively market your home. Each one is different, however they are usually between 4-12 weeks. After the nomination period is over, you will be able to market the property as you wish. 

Contact your housing association 

After you have read over your lease and gotten to grips with the process, it is time to notify your housing developer of your intention to sell. 


Once you have notified your housing developer, you will next need to pay and arrange for a RICS survey to take place. This will provide you with the value of your home. 

Whilst your developer may have a panel of recommended surveyors, you may be able to use your own if you prefer. Once you have had your RICS survey done, it will be valid for 3 months and will need to be sent to your local authority or housing association. If your property does not sell within those 3 months, you will need to pay for another valuation. 

At this stage, you should also either find your EOC or send it away for a new one. If you are unsure as to whether you have an EPC or not, it is a good idea to check the EPC register. 


Once you have received your RICS valuation, the housing assassination will send it to you in order to confirm the sale price. Once you have approved the valuation you will be able to begin marketing your property. 

Once you have given the go-ahead, your home will be actively marketed by your housing developer. If the nomination period passes with no sale, you will be able to take your home to the open market. However, you will still need to find someone who meets the eligibility criteria of your association. 

If the court has asked you to transfer ownership of your home or either you or your other person on the lease dies then the nomination period will not apply. 

Instruct your solicitor 

After you have found your buyer, you will need a conveyancer or a conveyancing solicitor to handle the legal progression of the sale for you. It is a good idea to choose a solicitor who has experience with shared home ownership sales. 


As is the case with selling any property, shared ownership or not, there are numerous forms that will need to be completed. The fixtures and fittings form, property information form, and leasehold information forms will all need to be filled out and sent off to the relevant parties at this stage. 

Mortgage broker 

If you wish to purchase a new property, then it is wise to seek mortgage advice in order to ascertain whether or not ou can afford the required mortgage for your next property. 

Eligibility checks 

Once a buyer has been found, they must be able to meet the eligibility criteria in order to purchase through the shared ownership scheme. If they pass and wish to continue with the process, then they will be able to reserve the property and begin the conveyancing process. 

Exchange and complete 

After the legal work has been completed and all parties are happy with the sale, the exchange of contracts can begin. This means legally binding documents will be signed and you will have your completion date to hand over keys. 

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How are offers made on a shared ownership home? 

After viewing, interested parties will be sent a reservation form and be placed into the selection and allocation process. Once the applications are closed, the successful applicant will be sent an offer letter and will have to pay a non-refundable reservation fee. 

As a seller, this offers you the security of knowing the buyer is serious and interested. Your buyer will then meet with their mortgage advisor in order to confirm that they can afford to buy your share in the property. After this, a memorandum of sale will be issued and the sale will be able to progress as normal from here. 

What if I am unhappy with my housing association during the sale? 

If you are unhappy with how your housing association has handled the sale of your property, then you will need to follow your housing provider's official complaints procedure and file and complaint. 

Should your complaint remain unresolved, then you should contact your local Housing Ombudsman. They will be able to review your case and can either reward compensation or require action depending on their verdict.  It is a free service however you must officially file a complaint with the association before you turn to the Ombudsman.

What forms are involved in selling a shared ownership property?

When you wish to sell your home, you will need to fill out the following forms: 

Leasehold information form 

As shared ownership houses are leasehold, you will be required to fill out a leasehold information form. Also referred to as a Management Pack, this form will include relevant information about the leasehold, such as three years worth of audited accounts, building insurance documents, fire safety reports and other information. 

Your housing provider will be able to provide you with this information, for a fee of between £200 to £300. After your solicitor has these forms, they will be sent to your buyer's solicitor to review and come back to you with any questions they may have. 

Fixtures and fittings form

A fixtures and fittings form is a common form that is used with the majority of house purchases. Also referred to as the TA10 form, this form alerts the buyer to what items you plan on leaving behind in the move and what you will be taking with you. It covers all aspects of the home, from boilers to curtains and is a legally binding document that makes up part of the contract of sale. 

If you have agreed to leave an item behind then you must, otherwise you may face a fine. 

Property information form

This form is also referred to as a TA6 and provides comprehensive information about your property to any potential buyers. It covers all aspects of the property, such as: 

  • disputes about the property

  • what utilities are connected to the property 

  • if the property is listed or located in a conservation area

  • the boundaries of the property

  • if any building works have taken place at the property 

  • guarantees or warrenties for roofing, electrical works damp proofing, underpinning, windows, and glazed doors. 

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Is it hard to sell a shared ownership property?

Whether or not it is hard to sell a shared ownership property will depend upon your personal circumstances. If you only own a share in your property, then it can be a little harder to sell if it is not a popular opinion in your area. You will also be facing extra fees for selling, as well as paying for a RICS survey. However, on the flip side to this, it is also easier as your housing provider will be the ones who are looking for a new buyer, not you. This means you can bypass some of the hassle. 

If you have staircased your property to 100% then you will be able to sell as you would with any other property. This means your selling options are completely down to you. Whilst there are many ways to sell a property, the most commonly used routes in the UK are either through an estate agent, a property auction, or through a cash buyer. 

If you are looking to sell your staircased shared ownership property fast and without fuss, then you have come to the right place. Here at The Property Buying Company, we will buy any house, in any location, in any condition. 

We are a genuine cash buyer, we specialise in fast, free house sales, tailored to a time frame that suits you. Whether you wish to sell in four months time or in as little as 7 days we can buy your property as soon as you are ready. 

We are proud members of The Property Ombudsman and National Association of Property Buyers, as well as being rated as excellent on TrustPilot.

If you are ready to sell your staircased shared ownership property, get in touch today or fill out one of our free online valuation forms to receive a no-obligation CASH offer which we could have in your bank in as little as 7 days...

So, what are you waiting for?Sell your house shared ownership home today
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