Shared ownership homes: buying, improving and selling
Apply
There are 4 steps to apply for a shared ownership home.
1. Check if you can buy a home through shared ownership
Find out who can apply to buy a home through shared ownership.
2. Find a home you want to buy
If you바카라 사이트™re eligible, you can contact an organisation selling shared ownership homes in your area.
They will:
- make sure you바카라 사이트™re eligible
- send you information about any homes for sale
- arrange viewings
- check you can afford the home
Find out where you can search for shared ownership homes for sale.
3. Reserve your home
If you바카라 사이트™re eligible to buy the home, you can pay a fee (of up to £500) to the landlord to reserve it.
When you pay the fee, no one else will be able to reserve the home for a fixed period. The landlord will tell you how long the fee secures the home for.
The fee will be taken off the final amount you pay on the day you buy the home (바카라 사이트˜completion day바카라 사이트™).
If you do not buy the home, you will usually not get a refund for the fee. Check with the landlord before you reserve it.
4. Choose someone to do the legal work (바카라 사이트˜conveyancing바카라 사이트™)
You바카라 사이트™ll need to find a legal professional to handle the process of transferring ownership from the property seller to you (called conveyancing).
You can use a solicitor or a licensed conveyancer. They바카라 사이트™ll also explain the terms of the shared ownership lease to you and check the conditions of your mortgage offer, if you have one.