Post Sales Guide
What does the future look like when you are in a shared ownership home?
There can be many advantages of shared ownership. It can enable you to get onto the property ladder more quickly than you might if you were buying a home outright.
Once you are in your shared ownership home your home ownership journey will be flexible as your life changes.
You can buy additional shares as time goes on meaning you save more or pay off more of your mortgage. You can also resell your home, a straightforward process.
We can help you with both of these options.
Staircasing to buy more shares in your home
Shared Ownership is all about taking steps to own your own home, you start with the share you can afford and as time passes you can increase your share.
This process is known as staircasing. The greater the share you buy of your home, the less rent you’ll pay to Sage Homes. If you staircase to 100%, you’ll become an outright owner and pay no rent (just service charge if applicable).
Selling your shared ownership home
Selling a shared ownership home is straightforward and you are able to sell at any time, even if you only own a share. If you own 100% of your property, you can advertise on the open market via an estate agent. If you still own a share Sage Homes will work with you to find a buyer initially and then you can opt to continue yourself. Once a buyer is found there are simple steps to follow. More information on the steps and the costs involved are available here.