❌ Common Myth You can sell a shared ownership home at any time and to anyone on the open market, just like selling a standard property.
✓ The Reality The housing association has the right of first refusal during a nomination period before you can market the property. Any buyer must also meet shared ownership eligibility criteria unless you own 100%.
Selling a shared ownership home is more involved than selling a standard property. The housing association has specific rules about the process, and if you own less than one hundred per cent, there are buyer eligibility restrictions. Understanding the steps in advance makes the whole process much smoother.
The sale process has three key stages that differ from a standard freehold or leasehold sale:
Notifying the Housing Association
You must notify the housing association in writing before putting your property on the market. They will arrange a RICS valuation to confirm the current market value. The price of your share must be based on this valuation — you cannot set your own asking price independently of it.
First Refusal Window
The nomination period — typically four to eight weeks as set out in your lease — gives the housing association the exclusive right to find a buyer from their waiting list. During this time you cannot market the property yourself. If they find a buyer, the sale completes through their process. If not, the period ends and you are free to sell on the open market.
Selling to an Eligible Buyer
Once the nomination period has passed, you can instruct an estate agent and list on Rightmove and similar platforms. However, any buyer must meet shared ownership eligibility criteria unless you own one hundred per cent of the property. Your solicitor handles the legal transfer of the leasehold interest and liaises with the housing association throughout.
Instruct a specialist solicitor early. Shared ownership leases are more complex than standard leaseholds, and not all conveyancers handle them well. Ask your housing association for a list of approved solicitors, or speak to us and we can point you towards solicitors we work with regularly.
When your initial fixed rate expires, your mortgage will roll onto the lender's standard variable rate unless you remortgage. For shared ownership owners, remortgaging involves a few additional steps compared to a standard remortgage. Key things to be aware of:
Housing association consent is required before completion
Not all lenders offer shared ownership remortgage products
A new property valuation is required by the incoming lender
Your broker searches the whole shared ownership market for the best rate
The consent process is typically managed by your solicitor
Your remaining lease length must satisfy lender requirements
If you have staircased, the remortgage reflects your new higher share value
Start your search three to six months before your deal ends
Some lenders will allow you to increase your borrowing when remortgaging, for example to fund a staircase purchase or home improvements. The amount available depends on your income, the current property value, and your ownership share. Your adviser will run full affordability calculations before recommending any increase in borrowing.
Most shared ownership leases require written consent from the housing association before any remortgage can complete. Failure to obtain consent could put you in breach of your lease terms. Your solicitor will manage this process as part of the remortgage.
We recommend starting three to six months before your current deal ends. This gives your adviser time to compare the full shared ownership mortgage market, secure a rate in advance, and manage the housing association consent process without time pressure. Leaving it too late risks a period on the much higher standard variable rate.
