When you are ready to move on we'll help you sell your share of your home.

Firstly, please read all of the 'Step-by-Step Guide' below for information on the process of selling your home.

Once you have read the information, you can log in to your MyHightown account to begin the process. 

Selling your home: Step-by-Step Guide

  • 1. Valuing your home

    The first stage of selling your home is to have the property valued.

    Hightown has a fee of £385 (including VAT) for the sales process, which pays towards the cost of the valuations and the administration process.

    Most leases state that your shared ownership property must be valued by an RICS qualified valuer.

    Hightown has a list of approved RICS qualified valuers that cover different geographical areas. You will need to select two valuers to value your property.

    Click here to see our approved list of valuers.

    The valuers contact you to arrange an appointment to visit your home. They will value 100% of your home, and the value of your share will be based on the proportion which you own.

    The valuer will value 100% of your home, and the value of your share will be based on the proportion which you own.

    Once Hightown has received the valuations back from both valuers, we will send you a 'Valuation Offer' letter confirming the value of your home. Please note that the reports are for Hightown use only.

    Valuations are valid for three months. After this time, if a buyer is in place, the valuation can usually be re-validated at the same value, at a cost of £90 (including VAT). If the valuation has expired and a buyer is not in place, a full valuation will be required at a fee of £385 (including VAT).

     

  • 2. Nomination Period

    Once you have received the Valuation Offer letter, you will need to confirm with Hightown that you are proceeding with the sale.

    Your lease allows a period (usually about 8 weeks) for Hightown to advertise your shared ownership property and find a buyer.

    If no buyer is found by Hightown during the nomination period, you can then sell on the open market through an estate agent. If you do instruct an agent, Hightown will no longer actively market your home.

    If you use an estate agent, please provide us their details and make sure they are aware that Hightown needs to approve prospective shared owners.

    If you are selling on the open market, most leases will allow you to sell either your existing share or 100% of your home by a simultaneous staircase and resale. Please note that this may increase your legal costs.

  • 3. Approving the buyer

    Prospective buyers are required to complete our Shared Ownership application form, to help us check that they are eligible, and can afford to buy your home and live there. These checks will reduce the likelihood of a sale falling through.

    Any applications received to purchase your home as part of the Shared Ownership scheme are passed to the Home Ownership Team to action.

    The Home Ownership team will also approve the prospective shared owner's mortgage.

  • 4. Completion

    On the day of completion you will need to make arrangements to hand over keys to the purchaser.

    You should also take meter readings and notify your utility suppliers of the final readings.

  • 5. Fees

    The below fees may be applicable during the sales process. Your solicitor may request these fees and pay Hightown on your behalf, or ask you to pay Hightown directly:

    • Leasehold Information/ Management Pack -  £220 plus VAT
    • Notice of Transfer/ Assignment/ Charge  - £90 plus VAT
    • Deed of Covenant  - £90 plus VAT
    • Certificate of Compliance - £90 plus VAT

    Click here to see the full administration fees list.

I'm ready to start the sales process

When you have chosen your two valuers, please:

  1. Notify Hightown that you want to sell your home via the online portal, MyHightown - please complete and submit the form telling us of your intention to sell and provide all information required (including if you have made any alterations/improvements to your home).
  2. Pay the £385 (including VAT) administrative fee - this can be done by calling the Home Ownership team on 01442 292535.

Once we have received your online form and payment, we will formally instruct the two valuers to begin the sales process.

To contact the Home Ownership Team, please email homeownership@hightownha.org.uk or call 01442 292535.