Your Guide to Staircasing

Size: px
Start display at page:

Download "Your Guide to Staircasing"

Transcription

1 Your Guide to Staircasing How to buy further shares In your Shared Ownership home

2 Staircasing What Is Staircasing? As a current shared owner you may wish to buy another share of your property or even buy your property outright. This process is known as staircasing and it enables you to own a greater proportion of your home. The greater the share you buy in your home the less rent you will pay to Estuary Housing Association. If you staircase to 100% you will become an outright owner and will no longer have to pay rent! Buying additional shares in the property is know as interim staircasing. However if you staircase to 100% (either in one transaction or after one or two interim staircasings) the share taking you to 100% ownership is known as final staircasing. When this occurs you own the property outright and are no longer a shared owner. In this case you will not pay rent to Estuary but you will still pay the service charge and may have to pay an annual ground rent. There are no restrictions in the majority of cases; however we would recommend in the first instance that you refer to your Lease. This may require assistance from your legal representative. We do not allow staircasing if you have arrears with your service charge and/or rent. Do I Have To Staircase? You don t have to staircase - it is entirely up to you. Most people who live in Shared Ownership properties staircase to reduce the rent they are paying. As the rent is paid on the share that Estuary Housing Association owns, by purchasing further shares the rent is reduced. When you come to sell your home, the greater percentage you own, the more profit you will make if the value of your home has increased. How Do I Staircase? By requesting this information or downloading this brochure, you have made the first step towards buying further shares in your property. 2 estuary.co.uk

3 Instruct A Valuer The additional equity purchased will be based on the current market value of the property at the time of application to staircase. In order to determine the current market value you will be required to contact an independent Royal Institute of Chartered Surveyors (RICS) qualified valuer. The valuation should be accompanied with at least three comparable property values. Please note that under the terms of your Lease an estate agent s valuation is not acceptable. The valuation is valid for 3 months and your purchase of the additional share should complete in this time. If we allow the transaction to extend beyond the three month period the property will have to be re-valued. This can normally be in the form of an extension or desktop valuation from the surveyor who carried out the original inspection and they would therefore not need to revisit the property. There could be an additional cost for this and please bear in mind that if the value has increased then you will have to proceed at a higher value. 3

4 Staircasing Appoint A Solicitor An increase in the share of your property will involve changes to your existing Lease and will require the professional services of a solicitor. Before instructing Estuary Housing to proceed, it is best to select your solicitor so that you are ready to act promptly when you receive the valuation report, which is only valid for three months. We recommend using the solicitor who originally dealt with your purchase as they are most likely to have details regarding your original purchase. If this is not possible we can assist you by providing you with a list of client-recommended solicitors. We recommend you: select a solicitor who charges a fixed fee for their services; obtain a quotation before instructing your solicitor; choose a solicitor with knowledge and experience of Shared Ownership Leases. Financial Review 4 estuary.co.uk

5 When you originally purchased your Shared Ownership home you would have had a financial assessment with our recommended financial adviser. From the time you originally bought your home to now, when you are considering buying more equity in your home, your personal circumstances may have changed considerably. As a responsible Housing Association, we suggest you have another financial assessment meeting with an adviser to ensure that the additional share being purchased is not likely to cause you financial difficulties in the future. The adviser will be able to assist you with your mortgage arrangements to buy the additional share if you want them to. If you would like to arrange your own mortgage, you should contact lenders and make sure you tell them you are buying additional shares in your Shared Ownership home. You must act quickly and stress to your lender that the staircasing valuation is only valid for three months; therefore it is imperative they act quickly to achieve this completion deadline to prevent you incurring additional costs. Did You Know? We can provide you with details of a financial adviser who will be able to assist if you Once you have the mortgage offer, contact your solicitor to arrange to complete the staircasing transaction. They may need to arrange an appointment to go through the legal paperwork with you. When this has been completed, your solicitor will advise us of the date you intend to complete the staircasing transaction. We will then send out a completion statement which will confirm the increased share in the property you will own, along with the new rent payments if you are not staircasing to 100% ownership. Your rent account, if applicable, will be adjusted accordingly once you have completed the transaction. If you have taken out a mortgage for the share, you will pay an increased amount to your lender from the day of completion. 5

6 Staircasing What Are The Costs Involved In Staircasing? Every time you staircase you will have expenses to pay. Therefore, before deciding to staircase it s advisable to investigate the full costs involved and carefully consider the additional share you wish to buy. Some of the expenses you will have to pay are: The valuation fee Estuary s administration fee Legal expenses Stamp duty - this will need to be discussed with your legal representative. Mortgage fees - if you are applying to change lenders (re-mortgage) to buy the additional share, or to obtain a better interest rate, you will be required to pay the lender s valuation fee and you may be required to pay a mortgage arrangement fee. You may also have to pay penalty charges to your existing lender if you re-mortgage before the product end date. You must investigate this with your lender and mortgage advisor prior to applying to staircase. Please note that if you withdraw your application to staircase once solicitors have been instructed, you will be responsible for Estuary Housing's abortive legal fee as detailed in the Home Ownership Administration Fees booklet. 6 estuary.co.uk

7 How Many Times Can I Staircase? You can usually staircase up to three times, with the third time taking you to 100% ownership. The minimum share that you can purchase is specified in your Lease but is usually in multiples of 25%. This will vary upon Final Staircasing depending on the initial share purchased. Your Lease will specify the staircasing provisions and the circumstances in which you may staircase. Leases do vary; for example some Leases allow you to staircase after three months whereas other Leases only allow you to staircase after the first 12 months have passed. Where you have purchased a resale property you may be able to staircase once you have owned the property for 3 months. What Are The Benefits Of Staircasing? You reduce the amount of rent you are paying to Estuary Housing - once you own 100% of your home you will not pay any rent at all. When you decide to sell your home, you will make more profit if the value of your home has increased. If you own 100% of your property you can sell your property on the open market using an estate agent of your choice. Becoming the outright owner allows you to maximise the profit from any major home improvements. Once you own 100% you will get back the full amount of any profit on the current market value when you come to sell your home. 7

8 Staircasing Do I Benefit From The Improvements That I Have Made To The Property? When you have your home valued for staircasing, the value is based on the current market value of your home which will include the home improvements you may have made. General home maintenance, repairs and redecoration are not regarded as improvements and will not increase the value of your home. The following list details works that are classed as improvements which may increase the value of your home but not always for as much as you originally paid for the work: New installation of central heating (less than 5 years old - if previously storage heating/ warm air); Double/triple glazing - windows/doors (less than 5 years old - if previously single glazed) New fitted kitchen (less than 5 years old) New bathroom (less than 5 years old) Conservatory (less than 5 years old) Loft conversion Extension Porch Addition of a garage (does not include replacement of existing structure) Addition of driveway and dropped kerb (does not include renewal of existing surfaces) Cavity wall insulation Please remember that you need to request permission and written approval from our maintenance team before carrying out any major improvements to your home. You will have had to provide us with estimates, quotations and relevant plans and local authority planning approval for the permission to be granted. Our surveyor may have also visited your home. 8 estuary.co.uk

9 You will need to provide these documents if you wish major home improvements to be disregarded from your staircasing offer. If any of the above improvements are applicable and you wish for them to be considered please instruct your surveyor to provide two valuation figures - one with the improvements and one without. If the valuation of the property indicates that the value of the property is reduced due to lack of maintenance and repair, we will request a valuation of the property assuming the property had been maintained to a good standard. This is within the requirements of your Lease and the purchase price will be based on this figure. What Happens If I Staircase To 100% 9

10 Staircasing Once you have staircased to 100% you will no longer pay Estuary Housing Association any rent. However, if you are the Leaseholder of an apartment, you are still required to pay your service charge, management charges including any ground rent and Buildings Insurance, as we remain the freeholder of the apartment block. Leasehold Enquiries Questionnaire to enable the sale to proceed. If this is the case, you would be responsible for paying the cost of these Enquiries in advance. For information about fees, please refer to our booklet Home Ownership Administration Fees. If you own a house, the freehold of your home can be transferred to you when you have staircased to 100%. You will need to serve notice to Estuary requesting the freehold of the property be transferred to you (your solicitor will be able to advise you). There is no charge for this transfer; however you will have to pay your legal costs. Once this has taken place, you will no longer be charged for buildings insurance. In some cases you may still have to pay a service charge or estate management charge to Estuary Housing Association. If you live on an estate, you will be responsible for some of the communal cost. Please note that your Lease restricts you from selling your property for three months following final staircasing. Regardless of whether you live in a flat or a house, once you have staircased to 100% you are free to sell the property on the open market, usually with the professional services of an estate agent. If you pay a service charge, your solicitor will require Estuary Housing to answer their 10 estuary.co.uk

11 Is There Any Reason Why I Would Be Unable To Staircase? Estuary Housing Association would not allow a Leaseholder to complete on the purchase of further shares if they are in either service charge or rent arrears. Some properties have a restriction on staircasing and, should this affect your property, details can be found in your Lease. You would not be able to staircase without the consent of all registered owners of the property. All Leaseholders named on the Lease/Title Deeds to the property must agree to the staircasing of the property and sign all necessary paperwork. Did You Know? Once you have staircased to 100% you are free to sell the property on the open market. 11

12 Stages To Staircasing 1 Contact Sales & Marketing Team to request application to staircase pack. 2 Search for a solicitor who has Shared Ownership experience to act for you. If you would like a list of solicitors please contact the Sales & Marketing Team at 3 4 Speak to your lender and/ or a financial adviser about purchasing a further share in your home to ensure you can obtain additional funds and then find out the costs involved. Instruct a RICS qualified valuer to obtain the current open market value of your home. Before you incur this cost it would be advisable to research the property market generally in your area to get an idea of current comparable property values. An Estate Agent s valuation is not acceptable, nor is a valuation carried out by a lender for mortgage purposes as this is not classed as an independent valuation. 12 estuary.co.uk

13 5 Complete the staircasing application form and return along with the valuation and the Estuary staircasing admin fee to the Sales & Marketing Team. Please note that the valuation will be valid for 3 months from the date of the valuation is carried out. VALID 3 MONTHS Authorisation Form 6 If you or Estuary Housing Association feel that the valuation given is not a fair valuation, then the District Valuer Service can be instructed to re-determine the value of the property. The District Valuer Service s valuation will be final and binding on both parties. 7 We check the valuation report and issue the offer letter to you with an authorisation form. You check the offer and complete the staircasing authorisation form which requires the name and address of your solicitor, mortgage advisor and/or mortgage lender. 13

14 Stages To Staircasing 8 Instruct your solicitor. 9 Contact your mortgage advisor or lender and apply for your mortgage. 10 Return the Staircasing Authorisation Form to Estuary. Authorisation Form 11 Estuary instruct our solicitor to send the legal pack to your solicitor. 14 estuary.co.uk

15 12 Your mortgage offer is issued. Send a copy to your solicitor to forward to Estuary s solicitor and also send a copy by to Estuary - 13 Your solicitor completes the legal work and sets the completion date with our solicitor. 14 Estuary issues the completion statement which breaks down the staircasing transaction and confirms rent, service charges and ground rent application after completion. COMPLETION DATE SET 15 You complete the staircasing transaction before the three month expiry date of your valuation (failure to achieve the three month deadline will result in you having to pay for a new survey and the market value on which your purchase is based may have increased). 15

16 Registered Office: Estuary Housing Association Ltd 8th and 9th Floors, Maitland House, Warrior Square, Southend-on-Sea, Essex, SS1 2JY estuary.co.uk/staircasing Version

Your guide to: Staircasing. How to buy further shares in your Shared Ownership home. Great homes, positive people, strong communities

Your guide to: Staircasing. How to buy further shares in your Shared Ownership home. Great homes, positive people, strong communities Your guide to: Staircasing How to buy further shares in your Shared Ownership home Great homes, positive people, strong communities Contents What is staircasing? 1 What provisions are there for staircasing?

More information

Staircasing Buying more shares in your home

Staircasing Buying more shares in your home Staircasing Buying more shares in your home 1 Contents What is staircasing? Staircasing and your lease General information Getting started 03 PAGE 04 PAGE 05 PAGE 08 PAGE 2 What is staircasing? If you

More information

Your Guide to Resales

Your Guide to Resales Your Guide to Resales How To Sell Your Shared Ownership Home Resales Selling your Home with Estuary Housing Association Limited As a Shared Owner with Estuary Housing Association Limited (EHA), we recognise

More information

Guide to Shared Ownership. Making Home Ownership Affordable

Guide to Shared Ownership. Making Home Ownership Affordable Guide to Shared Ownership Making Home Ownership Affordable Shared Ownership Contents What is a Housing Association? 4 What is Shared Ownership? 4 How Does Shared Ownership Work? 5 How Do I Qualify? 6 What

More information

A step-by-step guide to... Help to Buy. Shared Ownership. hastoesales.com

A step-by-step guide to... Help to Buy. Shared Ownership. hastoesales.com A step-by-step guide to... Help to Buy Shared Ownership hastoesales.com Help to Buy Shared Ownership (part buy, part rent) 2 If you want to buy a home of your own, but don t quite have enough money to

More information

Shared ownership A buyer s guide. Sharing your future Living your dreams

Shared ownership A buyer s guide. Sharing your future Living your dreams Shared ownership A buyer s guide Sharing your future Living your dreams Shared ownership A buyer s guide Contents Shared ownership gives you and your family the opportunity to step onto the property ladder

More information

A guide to. Shared Ownership. for you - for your community - not for profit.

A guide to. Shared Ownership. for you - for your community - not for profit. A guide to Shared Ownership www.tworivershousing.org.uk for you - for your community - not for profit What is Shared Ownership? Shared Ownership is an affordable way to buy your own home. With Shared Ownership

More information

A guide to. Shared Ownership

A guide to. Shared Ownership A guide to Shared Ownership V1. August 2016 What is Shared Ownership? Shared Ownership is an affordable way to buy your own home. With Shared Ownership you can part-rent and part-buy a property. If you

More information

Resales Selling your shared ownership property

Resales Selling your shared ownership property Resales Selling your shared ownership property 1 Contents Resales What it costs How to sell General information 03 04 06 08 Resales If you want to sell your shared ownership home this is a resale. The

More information

where your story begins

where your story begins HOME... where your story begins Your guide to shared ownership What is shared ownership? Shared ownership gives you the opportunity to buy a share in a home of your own, and pay subsidised rent on the

More information

Shared Ownership. Buyers Guide

Shared Ownership. Buyers Guide Shared Ownership Buyers Guide Shared Ownership Shared Ownership provides an affordable way to buy a home. You purchase a share in a brand new home and pay a subsidised rent on the part you don t own. In

More information

Selling your shared ownership home

Selling your shared ownership home Selling your shared ownership home Contents 4 Introduction 5 The selling process Valuation Marketing Choosing a buyer Sales progression 10 The cost of selling your home Moat s fees Surveyor s fees Legal

More information

THE PROCESS OF CONVEYANCING (The Business of Buying and Selling)

THE PROCESS OF CONVEYANCING (The Business of Buying and Selling) A GUIDE TO THE PROCESS OF MOVING HOUSE It goes without saying that moving home can be stressful. The process does not always run smoothly In this guide we will give you a brief outline of the conveyancing

More information

Your Guide to Shared Ownership

Your Guide to Shared Ownership Your Guide to Shared Ownership YOUR GUIDE TO SHARED OWNERSHIP Metropolitan is one of the UK s leading providers of affordable housing and care and support services. We own and manage a large portfolio

More information

The Metropolitan Staircasing Process - Guidance Notes

The Metropolitan Staircasing Process - Guidance Notes The Metropolitan Staircasing Process - Guidance Notes As a shared ownership leaseholder you can buy further shares in your home when you can afford to, this process is known as Staircasing. Staircasing

More information

STAIRCASING. To qualify for a shared ownership property you must meet the following minimum criteria:

STAIRCASING. To qualify for a shared ownership property you must meet the following minimum criteria: STAIRCASING FAQ s Am I eligible? To qualify for a shared ownership property you must meet the following minimum criteria: Your maximum household income is 80,000. In London, the maximum household income

More information

Islington & Shoreditch HA Lien Viet HA. Staircasing Guide For Shared Owners

Islington & Shoreditch HA Lien Viet HA. Staircasing Guide For Shared Owners Islington & Shoreditch HA Lien Viet HA Staircasing Guide For Shared Owners 020 7704 7300 Introduction This leaflet is aimed at people who are shared owners with ISHA and are looking to buy more shares

More information

YOUR GUIDE TO THE LEGAL PROCESS FOR SELLING A PROPERTY

YOUR GUIDE TO THE LEGAL PROCESS FOR SELLING A PROPERTY YOUR GUIDE TO THE LEGAL PROCESS FOR SELLING A PROPERTY Selling a house or flat is almost certainly one of the most important transactions you'll ever make. Obviously you want to get it right, and it's

More information

Property administration overview and risk warning notice

Property administration overview and risk warning notice Property administration overview and risk warning notice Overview of property administration You have informed us that you wish to purchase a property within your Scheme. Please complete and return to

More information

SSAS Information Booklet Property Investment

SSAS Information Booklet Property Investment SSAS Information Booklet Property Investment About property investments Property investment within a SSAS is complex. This booklet aims to help you to understand the processes involved. However, it is

More information

The Right to Acquire. Contents. Contents Making an informed decision Can you buy your home? How to buy your home 7. 4.

The Right to Acquire. Contents. Contents Making an informed decision Can you buy your home? How to buy your home 7. 4. The Right to Acquire Contents Contents 1 1. Making an informed decision 3 2. Can you buy your home? 7 3. How to buy your home 7 4. Discount 9 5. Repairs 10 6. Problems with the buying procedure 10 7. Who

More information

Your guide to Shared Ownership

Your guide to Shared Ownership Your guide to Shared Ownership www.whitehorsehousing.co.uk White Horse Housing Association Guide to Shared Ownership 2017 Who is White Horse Housing Association? We are a small not-for-profit housing association

More information

Your guide to Shared Ownership

Your guide to Shared Ownership Your guide to Shared Ownership www.whitehorsehousing.co.uk Who is White Horse Housing Association? We are a small not-for-profit housing association that has been in existence for over 30 years. We currently

More information

Tozers guide to selling your home

Tozers guide to selling your home Call 01392 207020 enquiries@tozers.co.uk www.tozers.co.uk Tozers guide to selling your home Moving home can be a stressful experience so it pays to get the right advice. As one of the oldest and largest

More information

Reference: SO/SRR/DW Approved: 4/4/17. Shared Ownership Staircasing Reverse Staircasing, and Remortgaging. Author: Deborah White Approved by:

Reference: SO/SRR/DW Approved: 4/4/17. Shared Ownership Staircasing Reverse Staircasing, and Remortgaging. Author: Deborah White Approved by: Shared Ownership Staircasing Policy Reference: SO/SRR/DW Approved: 4/4/17 Scope: Shared Ownership Staircasing Reverse Staircasing, and Remortgaging Related Policies: Shared Ownership Sales, Resales and

More information

New home. A guide to shared ownership

New home. A guide to shared ownership New home A guide to shared ownership 02 flagship-homes.co.uk Your questions answered What is shared ownership? Shared ownership is a home ownership scheme. It is designed to help people unable to purchase

More information

Open Market Shared Equity Scheme

Open Market Shared Equity Scheme Open Market Shared Equity Scheme October 2017 Open Market Shared Equity Scheme The Open Market Shared Equity Scheme helps first time buyers on low to moderate incomes to buy a home on the open market (within

More information

Buying & Selling Your Home a Guide

Buying & Selling Your Home a Guide Buying & Selling Your Home a Guide Introduction Buying or selling your house is likely to be the most important financial transaction you will ever enter into. Our practice covers all areas of the law

More information

A guide to Shared Ownership

A guide to Shared Ownership A guide to Shared Ownership A flexible way to buy If you dream of owning your own home, but can t afford to because of current property prices, then Shared Ownership could be for you. This is a scheme

More information

Some homes may not be eligible and in those cases we will try to find an alternative property that you can buy.

Some homes may not be eligible and in those cases we will try to find an alternative property that you can buy. 1. Introduction The Voluntary Right to Buy (VRTB) is an 18 month government-led pilot scheme which gives assured tenants of housing associations in the Midlands area the right to buy their home at a discounted

More information

Your guide to. Shared Ownership. An affordable way to purchase your own home

Your guide to. Shared Ownership. An affordable way to purchase your own home Your guide to Shared Ownership An affordable way to purchase your own home Shared ownership, an affordable way to purchase a home on the open market At Yarlington Homes we provide more than just somewhere

More information

Looking After Your Move

Looking After Your Move Looking After Your Move Your Guide to Buying and Selling Your Home Tel: 0114 218 4000 E. info@tayloremmet.co.uk www.tayloremmet.co.uk Contents Your move.. 3 Important Dates.. 3 Up to Exchange of Contracts..

More information

Your guide to: Extending your lease

Your guide to: Extending your lease Your lease is the document that gives you the right to live in your property for a certain amount of time usually 99 or 125 years. Once the time remaining on your lease drops under 80 years, the value

More information

Voluntary Right to Buy Policy (Midlands Pilot)

Voluntary Right to Buy Policy (Midlands Pilot) Voluntary Right to Buy Policy (Midlands Pilot) Version 1 Approved by: Board Approved date: 6 June 2018 1.0 Introduction 1.1 This Policy outlines our approach to the Voluntary Right to Buy (VRTB) scheme,

More information

A home of your own SHARED OWNERSHIP (PART BUY/PART RENT)

A home of your own SHARED OWNERSHIP (PART BUY/PART RENT) A home of your own SHARED OWNERSHIP (PART BUY/PART RENT) www.graingerplc.co.uk Shared Ownership Home ownership is something prior generations took for granted. Now, with rising house prices and rising

More information

THE CHURCH OF ENGLAND PENSIONS BOARD

THE CHURCH OF ENGLAND PENSIONS BOARD THE CHURCH OF ENGLAND PENSIONS BOARD Retirement Housing SHARED OWNERSHIP BOOKLET Information Booklet for Scheme Applicants Housing Department Church of England Pensions Board P O Box 2026 Pershore WR10

More information

Interested in buying your own home?

Interested in buying your own home? Interested in buying your own home? A legal guide to Right to Buy This leaflet can be translated into other languages, large print and Braille or recorded on to an audio CD. Please contact your local office

More information

Interested in buying your own home? A legal guide to Right to Buy

Interested in buying your own home? A legal guide to Right to Buy Interested in buying your own home? A legal guide to Right to Buy Further information Sanctuary Housing Customer Service Centre 0800 916 1444/0300 123 3516* contactus@sanctuary-housing.co.uk Please contact

More information

T Buying your shared ownership home

T Buying your shared ownership home www.redwingliving.co.uk T 0344 7360063 Buying your shared ownership home Buying your shared ownership home Shared ownership is the affordable way to buy a home and is designed to help you step onto the

More information

REQUEST FOR CONSENT TO ALTER OR ADD TO A LEASEHOLD PROPERTY Guidance Notes for Leaseholders

REQUEST FOR CONSENT TO ALTER OR ADD TO A LEASEHOLD PROPERTY Guidance Notes for Leaseholders Introduction Homeground and Leasehold Property Alterations Homeground Management Limited ( Homeground ) acts as an agent for a large number of companies which own Freehold and other Landlord interests

More information

What is. Shared Ownership?

What is. Shared Ownership? What is Shared Ownership? What is Shared Ownership? Page 1 Am I eligible? Page 3 Applying for your mortgage Page 13 Where do I register? Page 5 Solicitors Page 15 Viewing and reserving a property Page

More information

FIRST TIME HOMEBUYERS Moving forward together

FIRST TIME HOMEBUYERS Moving forward together www.palmerslaw.co.uk GUIDE FOR FIRST TIME HOMEBUYERS Moving forward together FIRST TIME HOMEBUYERS FACE A CHALLENGING YET EXCITING TIME WHEN AGREEING TO BUY THEIR FIRST PROPERTY. Buyers must always take

More information

How to extend the terms of your lease

How to extend the terms of your lease How to extend the terms of your lease Most leasehold properties start off with a lease of either 99 or 125 years. The number of years left on a lease is known as the term. Over the years this term reduces

More information

Conveyancing. Pricing. wardhadaway.com. Newcastle Leeds Manchester

Conveyancing. Pricing. wardhadaway.com. Newcastle Leeds Manchester Conveyancing Pricing Newcastle Leeds Manchester Ward Hadaway wardhadaway.com @WardHadaway Conveyancing Our residential conveyancing team advise on freehold or leasehold sales or purchases as well as re-mortgages

More information

Property / Land Questionnaire for In-Specie Transfer

Property / Land Questionnaire for In-Specie Transfer Self-Invested Personal Pension SIPP Property / Land Questionnaire for In-Specie Transfer www.investaccpensions.co.uk Contents Section Personal Information About the Property / Land Transferring Scheme

More information

shared ownership explained... a guide to your future... Contact our Home Ownership support team today

shared ownership explained... a guide to your future... Contact our Home Ownership support team today shared ownership explained... Contact our Home Ownership support team today Soha Housing Limited, Royal Scot House, 99 Station Road, Didcot, Oxon OX11 7NN Tel: 01235 515900 Fax: 01235 515945 Email: housing@soha.co.uk

More information

Your guide to Voluntary Right to Buy

Your guide to Voluntary Right to Buy Your guide to Voluntary Right to Buy Midlands Pilot Places for People 1 Places work when they work for everyone. Contents Introduction 4 Voluntary Right to Buy Midlands Pilot 5 1 How to apply 6 2 Eligibility

More information

Your guide to: Extending your lease

Your guide to: Extending your lease Your lease is the document that gives you the right to live in your property for a certain amount of time usually 99 or 125 years. Once the time remaining on your lease drops under 80 years, the value

More information

PAGE INTRODUCTION 2 ABOUT ENGLISH RURAL 2 HOW SHARED OWNERSHIP WORKS 2 WHO QUALIFIES 3 THE COSTS 3 AFFORDABILITY 4 BUYING EXTRA SHARES 4

PAGE INTRODUCTION 2 ABOUT ENGLISH RURAL 2 HOW SHARED OWNERSHIP WORKS 2 WHO QUALIFIES 3 THE COSTS 3 AFFORDABILITY 4 BUYING EXTRA SHARES 4 CONTENTS PAGE INTRODUCTION 2 ABOUT ENGLISH RURAL 2 HOW SHARED OWNERSHIP WORKS 2 WHO QUALIFIES 3 THE COSTS 3 AFFORDABILITY 4 BUYING EXTRA SHARES 4 DEALING WITH MORTGAGE DIFFICULTIES 4 MOVING ON 5 LIVING

More information

Your Guide To Conveyancing. Conveyancing excellence as standard

Your Guide To Conveyancing. Conveyancing excellence as standard Your Guide To Conveyancing Conveyancing excellence as standard 1 At Robinson s Solicitors we appreciate that your home is potentially the single most expensive item you own and that any property transaction

More information

RESIDENTIAL CONVEYANCING

RESIDENTIAL CONVEYANCING RESIDENTIAL CONVEYANCING Residential property transactions can vary from transaction to transaction as no two transactions will be the same. The reason being that no two properties are the same, no two

More information

Right to Buy Information Guide

Right to Buy Information Guide Right to Buy Information Guide Published October 2013 Page 1 of 11 Eastbourne Homes Ltd Contents Introduction... 3 Repairs & Maintenance... 4 Planned Work... 4 Home Improvement and Disabled Adaptations...

More information

GUIDE TO SSAS PROPERTY PURCHASE

GUIDE TO SSAS PROPERTY PURCHASE GUIDE TO SSAS PROPERTY PURCHASE www.investaccpensions.co.uk 2 InvestAcc Pension Administration Limited Guide to SSAS Property Purchase Guide to Purchasing Property and Land through your SSAS This guide

More information

Right to Buy Procedure

Right to Buy Procedure Right to Buy Procedure STEP 1: Applying to buy A tenants first step is to ask us for the Right to Buy claim form (Form RTB 1). Forms must be issued within 5 working days. The tenant will need to complete

More information

SHARED OWNERSHIP A simple guide to buying a shared ownership property

SHARED OWNERSHIP A simple guide to buying a shared ownership property SHARED OWNERSHIP A simple guide to buying a shared ownership property 2 www.alliancehomesgroup.org.uk What is shared ownership? Shared Ownership is for people who want to own their own home, but cannot

More information

Bridgewater Equity Release

Bridgewater Equity Release Bridgewater Equity Release Home Reversion Plan Application Form Intermediary Checklist An incomplete form may delay the processing of this application. To help assist us, please check: 1. The Intermediary

More information

Crown Equity Release Plan Application Form

Crown Equity Release Plan Application Form Crown Equity Release Plan Application Form Please answer all questions fully in BLOCK CAPITALS in black/blue ink. If the property is owned jointly, for example with your Spouse or Partner, the application

More information

GUIDE TO SELLING YOUR SHARED OWNERSHIP HOME

GUIDE TO SELLING YOUR SHARED OWNERSHIP HOME GUIDE TO SELLING YOUR SHARED OWNERSHIP HOME 2 3 Hastoe Group Welcome Your Shared Ownership home, which you purchased from Hastoe, must be sold through us in the first instance. You can choose to sell your

More information

ADVICE NOTE BUYING AND SELLING YOUR FLAT. A summary of the typical events when buying and selling a leasehold flat

ADVICE NOTE BUYING AND SELLING YOUR FLAT. A summary of the typical events when buying and selling a leasehold flat ADVICE NOTE BUYING AND SELLING YOUR FLAT A summary of the typical events when buying and selling a leasehold flat 2 CONTENTS Note: As the leading trade body for residential leasehold management, ARMA is

More information

New Build HomeBuy (part buy, part rent)

New Build HomeBuy (part buy, part rent) Buying a home through New Build HomeBuy (part buy, part rent) Sustainable homes, sustainable communities The New Build HomeBuy Scheme If you want to buy a home of your own but don t quite have enough money

More information

A New Future For Heathside and Lethbridge. Heathside and Lethbridge Regeneration Offer to Leaseholders

A New Future For Heathside and Lethbridge. Heathside and Lethbridge Regeneration Offer to Leaseholders A New Future For Heathside and Lethbridge Heathside and Lethbridge Regeneration Offer to Leaseholders Contents A OFFER TO LEASEHOLDERS 5 1 Introduction 2 Non Resident Leaseholders 3 Summary of Options

More information

GUIDE TO SIPP PROPERTY PURCHASE

GUIDE TO SIPP PROPERTY PURCHASE GUIDE TO SIPP PROPERTY PURCHASE www.investaccpensions.co.uk 2 InvestAcc Pension Administration Limited Guide to SIPP Property Purchase Guide to Purchasing Property and Land through your SIPP This guide

More information

Selling residential property in England and Wales: the basics

Selling residential property in England and Wales: the basics Selling residential property in England and Wales: the basics Farrer & Co s first-rate property team excels at tricky issues - Legal 500 Navigating the property market Once you have made the decision to

More information

OPTIVO S GUIDE TO SHARED OWNERSHIP

OPTIVO S GUIDE TO SHARED OWNERSHIP OPTIVO S GUIDE TO SHARED OWNERSHIP Are you interested in Shared Ownership, but don t know much about it? Our handy guide is here to help. If you re struggling to buy your own home, Shared Ownership could

More information

SHEPHERDS BUSH HOUSING ASSOCIATION LEASE EXTENSION POLICY

SHEPHERDS BUSH HOUSING ASSOCIATION LEASE EXTENSION POLICY (UNCONTROLLED WHEN PRINTED) SHEPHERDS BUSH HOUSING ASSOCIATION 1. INTRODUCTION Shepherds Bush Housing Association (SBHA) recognises the desire of residential leaseholders to extend the term of their lease

More information

A Leasehold Guide to Alterations for Flats

A Leasehold Guide to Alterations for Flats A Leasehold Guide to Alterations for Flats If you own a leasehold flat and wish to make alterations, this guidance note is designed to guide you through the process of obtaining landlord s consent through

More information

SRA TRANSPARENCY RULES

SRA TRANSPARENCY RULES SRA TRANSPARENCY RULES 06/12/2018 In accordance with the transparency rules introduced by the SRA, we are now pleased to display our firm s pricing and service information in relation to the following

More information

A Guide to Lease Extensions for the Barbican Estate

A Guide to Lease Extensions for the Barbican Estate A Guide to Lease Extensions for the Barbican Estate Under the Leasehold and Urban Development Act 1993 (as amended) ( the Act ) Barbican Long Leaseholders may purchase a new Lease from the City of London

More information

Buying or Selling a Property Legal Terms Explained For St. James s Place Clients

Buying or Selling a Property Legal Terms Explained For St. James s Place Clients Buying or Selling a Property Legal Terms Explained For St. James s Place Clients Bankruptcy Search - a search to check whether a buyer has been declared bankrupt. Boundaries - usually marked by fencing,

More information

(ENGLAND AND WALES ONLY) Section 1 Shared Ownership Requirements which must be complied with for all Shared Ownership Leases.

(ENGLAND AND WALES ONLY) Section 1 Shared Ownership Requirements which must be complied with for all Shared Ownership Leases. LEEDS BUILDING SOCIETY REQUIREMENTS IN RESPECT OF SHARED OWNERSHIP SCHEMES/SHARED EQUITY LOAN SCHEMES/ SECTION 106 AGREEMENTS/PROPERTIES PURCHASED AT A DISCOUNT (ENGLAND AND WALES ONLY) If the property

More information

PROPERTY INVESTMENT NOTES

PROPERTY INVESTMENT NOTES OPEN PENSION PROPERTY INVESTMENT NOTES Powered by the London & Colonial... www.londoncolonial.com Contents 1. Introduction... Page 2 2. The People... Page 2 3. The Process... Page 3 4. How do I apply to

More information

Guide to Shared Ownership

Guide to Shared Ownership Guide to Shared Ownership SO Living is part of Plymouth s largest affordable housing provider, Plymouth Community Homes. What is Shared Ownership? - Shared ownership is an affordable home ownership scheme

More information

Informal/conditional Auction Terms and Conditions

Informal/conditional Auction Terms and Conditions Informal/conditional Auction Terms and Conditions These conditions govern the conduct of conditional or informal auctions operated by Paul Fosh Auctions Limited (Company or Auctioneer or us/we/our). All

More information

SALES n LETTINGS n COMMERCIAL n LAND

SALES n LETTINGS n COMMERCIAL n LAND SALES n LETTINGS n COMMERCIAL n LAND About us We have been a long-established family-run estate agents that has built up a substantial share of local business, attributing success to a constant turnover

More information

Buying Your Council Home. Right to Buy. A Guide for Sheffield Council Tenants

Buying Your Council Home. Right to Buy. A Guide for Sheffield Council Tenants Buying Your Council Home Right to Buy A Guide for Sheffield Council Tenants Most secure council tenants have the Right to Buy their home. The following information is a brief guide to the Right to Buy

More information

Guide to Buying a New Build Home

Guide to Buying a New Build Home Guide to Buying a New Build Home Buying a home is perhaps the most important purchase you will ever make and the Jackson-Stops & Staff Residential Development team will offer you all the support you need

More information

Homeowners guide. A guide to choosing your new home.

Homeowners guide. A guide to choosing your new home. Homeowners guide A guide to choosing your new home www.southwark.gov.uk/aylesbury Contents Introduction 3 Overview of the purchase process for homeowners 4 Buying back your property 5 Compensation 6 Compulsory

More information

GENERAL GUIDANCE ON SELLING AND BUYING RESIDENTIAL PROPERTY THESE NOTES HAVE BEEN PREPARED TO ASSIST YOU AND EXPLAIN THE BUYING AND SELLING PROCESS

GENERAL GUIDANCE ON SELLING AND BUYING RESIDENTIAL PROPERTY THESE NOTES HAVE BEEN PREPARED TO ASSIST YOU AND EXPLAIN THE BUYING AND SELLING PROCESS GENERAL GUIDANCE ON SELLING AND BUYING RESIDENTIAL PROPERTY THESE NOTES HAVE BEEN PREPARED TO ASSIST YOU AND EXPLAIN THE BUYING AND SELLING PROCESS TO ARRANGE AN INITIAL CONSULTATION PLEASE CALL 020 888

More information

Guideline Leaflet PM01: Buying a Manse

Guideline Leaflet PM01: Buying a Manse Guideline Leaflet PM01: Buying a Manse A church may purchase a manse for their minister. They will sometimes buy residential property as an investment or to accommodate other workers. This leaflet explains

More information

YOUR CLIENT JOURNEY. When buying property with Scullion LAW

YOUR CLIENT JOURNEY. When buying property with Scullion LAW YOUR CLIENT JOURNEY When buying property with Scullion LAW THE BEGINNING Your Finances Home Report Your Offer Your ID THE PROCESS Missives Conveyancing Funding, Signing & Completion THE END Post-Completion

More information

IMPORTANT INFORMATION FOR PURCHASERS REGARDING THE PURCHASE OF PROPERTY

IMPORTANT INFORMATION FOR PURCHASERS REGARDING THE PURCHASE OF PROPERTY IMPORTANT INFORMATION FOR PURCHASERS REGARDING THE PURCHASE OF PROPERTY The following information is of great importance to all purchasers of land, houses and units. We ask that you read this document

More information

SELLER S GUIDE INTRODUCTION SELLER S PACK REQUEST FORM RETIREMENT PROPERTIES APPENDIX

SELLER S GUIDE INTRODUCTION SELLER S PACK REQUEST FORM RETIREMENT PROPERTIES APPENDIX Transfer of Property A standard guide to our fees and requirements SELLER S GUIDE INTRODUCTION PAGE 02 SELLER S PACK PAGE 03 REQUEST FORM PAGE 04 RETIREMENT PROPERTIES PAGE 06 APPENDIX PAGE 11 Version

More information

Small Self Administered Scheme. Property Notes

Small Self Administered Scheme. Property Notes Small Self Administered Scheme Property Notes Contents 1. Introduction... 3 2. The Property... 3 3. The Vendor... 3 4. The Legal Owners... 3 5. Valuations... 4 6. The Purchase... 4 7. Tenants... 4 8. Lease...

More information

Property Form. for the Suffolk Life SIPP and MasterSIPP

Property Form. for the Suffolk Life SIPP and MasterSIPP Property Form for the Suffolk Life SIPP and MasterSIPP This document is part of a set, all of which should be read together: Key Features Personal Illustration Schedule of Fees Schedule of Allowable Investments

More information

Property Guide. Strong partnerships, better results DECEMBER Property Guide Ref: 12/16 Page 1 of 17

Property Guide. Strong partnerships, better results DECEMBER Property Guide Ref: 12/16 Page 1 of 17 Property Guide Strong partnerships, better results DECEMBER 2016 Property Guide Ref: 12/16 Page 1 of 17 Contents 03 Investing In Property 04 Before You Start A Few General Rules 05 Property You Already

More information

Request for Alterations Information Request

Request for Alterations Information Request Leasehold Unit Information Request for Alterations Information Request Introduction Thank you for your recent request to make an alteration to your leasehold property. HomeGround Management Ltd are appointed

More information

How TDS deals with disputes relating to non-assured Shorthold Tenancies

How TDS deals with disputes relating to non-assured Shorthold Tenancies How TDS deals with disputes relating to non-assured Shorthold Tenancies You have reached the end of the tenancy but can t agree what should happen to the deposit. What should you do now? This document

More information

Common mistakes people make when moving house ( and how to avoid them)

Common mistakes people make when moving house ( and how to avoid them) Common mistakes people make when moving house ( and how to avoid them) For many people buying or selling a home is an extremely stressful experience. Usually the process involves a chain of transactions

More information

Homefile. A buyer s guide to home ownership

Homefile. A buyer s guide to home ownership Homefile A buyer s guide to home ownership 02 flagship-homes.co.uk The Flagship Service Flagship Homes is a Flagship trading activity. Based at Keswick in Norwich, Flagship Homes provides a quality service

More information

A guide for first time buyers

A guide for first time buyers On the move: A guide for first time buyers www.legalombudsman.org.uk 1 Introduction Buying your first home can be a daunting experience. There are lots of things to sort out, such as surveys, checking

More information

Buying a home. Your guide to. Getting advice. Finding a solicitor.

Buying a home. Your guide to. Getting advice. Finding a solicitor. Your guide to Buying a home Getting advice Buying a home can be an exciting prospect, but without the help of a solicitor it can also be a legal minefield. Your solicitor is there to help you avoid potential

More information

Your guide to selling a home

Your guide to selling a home Your guide to selling a home Your guide to selling a home DISCLAIMER This booklet is an introductory guide. Buying property is a complex and sometimes fast-moving legal process. Every transaction is different,

More information

This Policy applies to eligible Knightstone tenants wishing to purchase their rented home using the Social HomeBuy scheme

This Policy applies to eligible Knightstone tenants wishing to purchase their rented home using the Social HomeBuy scheme Social HomeBuy Policy Policy ref: Social HomeBuy Policy Approved by: Director of Development & Home Ownership Policy author/policy holder: Head of Sales & Marketing Date approved: July 2017 Effective date:

More information

Lease Extension Interested in extending your lease? We hope you find this guide useful in informing you of your options and how to go about it.

Lease Extension Interested in extending your lease? We hope you find this guide useful in informing you of your options and how to go about it. Lease Extension Interested in extending your lease? We hope you find this guide useful in informing you of your options and how to go about it. If you own a flat and you wish to extend your lease then

More information

SHARED OWNERSHIP - A BEGINNERS GUIDE

SHARED OWNERSHIP - A BEGINNERS GUIDE North Wales Housing Ltd Tai Gogledd Cymru Cyf Phone 01492 572727 - Ffôn SHARED OWNERSHIP - A BEGINNERS GUIDE ABOUT THIS BOOKLET Shared ownership helps people who cannot afford to buy a home of their own.

More information

HomePurchasePlan. Banking you can believe in ENGLAND & WALES PRODUCT INFORMATION

HomePurchasePlan. Banking you can believe in ENGLAND & WALES PRODUCT INFORMATION HomePurchasePlan ENGLAND & WALES PRODUCT INFORMATION Banking you can believe in Banking you can believe in Introduction Sharia compliant, flexible, affordable property finance Unlike a conventional mortgage

More information

YOUR GUIDE TO SHARED OWNERSHIP

YOUR GUIDE TO SHARED OWNERSHIP YOUR GUIDE TO SHARED OWNERSHIP YOUR GUIDE TO SHARED OWNERSHIP Shared Ownership is a part-buy partrent scheme run in conjuction with the government that helps those that qualify into home ownership. Shared

More information

What happens when the Court is involved in a tenancy deposit dispute?

What happens when the Court is involved in a tenancy deposit dispute? Who should read this? Key Documents Tenants Agents Landlords What happens when the Court is involved in a tenancy deposit dispute? Here are some pointers from TDS about choosing between sending a dispute

More information

AFFORDABLE HOME OWNERSHIP SHARED EQUITY SCHEME WITH CONWY COUNTY BOROUGH COUNCIL 36 LON BEDW, LLANDUDNO JUNCTION, LL31 9FE

AFFORDABLE HOME OWNERSHIP SHARED EQUITY SCHEME WITH CONWY COUNTY BOROUGH COUNCIL 36 LON BEDW, LLANDUDNO JUNCTION, LL31 9FE AFFORDABLE HOME OWNERSHIP SHARED EQUITY SCHEME WITH CONWY COUNTY BOROUGH COUNCIL 36 LON BEDW, LLANDUDNO JUNCTION, LL31 9FE We are pleased to inform you that the above property is available for resale through

More information

A GUIDE TO SHARED OWNERSHIP

A GUIDE TO SHARED OWNERSHIP A GUIDE TO SHARED OWNERSHIP This guide describes the typical process of buying a share in a property from a housing association. It does not refer specifically to the process of buying through Octavia

More information