Selling your shared ownership home or buying out Co-Ownership
Whether you want to buy us out completely, or sell and move on, you're in control of when and how it happens.
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With Co-Ownership, you always have options. You can stay exactly as you are for as long as you like, gradually increase your share over time, buy us out completely to own your home without Co-Ownership, or sell your home and move somewhere else.
Below we explain how each option works in shared ownership, and what to expect along the way.
Your options with your Co-Ownership home
How to sell your Co-Ownership home
If you've decided to move, you can sell your home at any time. The process is similar to any other house sale, with a few specific steps because of our shared arrangement.
How are the proceeds split when I sell?
When you sell your property, the proceeds are split according to the ownership shares agreed in your lease.
For example, if you own 60% and Co-Ownership owns 40%, and the property sells for £100,000, you receive £60,000 (minus any outstanding mortgage balance and fees) and Co-Ownership receives £40,000.
Your solicitor will provide a full breakdown of how the proceeds are calculated and what you'll receive after all costs are deducted.
Timescales for selling
The time it takes to sell depends on the property market, how quickly you find a buyer, and how smoothly the legal process goes.
From deciding to sell to completion typically takes between three and six months, though it can be quicker or longer depending on individual circumstances.
The sale must be completed within 12 weeks of the valuation completing. If it takes longer than this to complete, you may need a second valuation to ensure the price is still accurate.
Selling due to a change in circumstances
If you're thinking about selling your home due to a relationship breakdown, bereavement or redundancy, take a read through our Changes in Circumstances and Financial Support pages. We're here to help when things get complicated, and can signpost you towards extra support.
If you’re looking to increase your share gradually, visit Owning more of your home for information.
How to buy Co-Ownership out
Buying out Co-Ownership means buying our remaining share so you own 100% of your home. Once complete, you’ll no longer pay rent to us. If you have a mortgage, you’ll continue paying that until it’s cleared.
What is a buy-out valuation and how does it work?
When you increase your share, buy us out, or sell, Co-Ownership uses a buy-out valuation rather than a standard market valuation.
A buy-out valuation assesses your home at the same standard as when you bought it, but at today's market price. This means any improvements you've made that add value are excluded from Co-Ownership's share.
How much would buying out Co-Ownership cost me?
For an idea of how much buying additional shares of your home would cost, or the cost of buying Co-Ownership out completely, try our Buying Out Calculator.
Costs involved in selling or buying out your shared ownership home
When increasing your share, buying out, or selling, you'll need to budget for certain costs, including:
- The £75 valuation fee that has to be paid when you request the valuation via your online account.
- Legal fees when buying out or selling. Your solicitor will provide a quote for their services.
- Mortgage fees if you're remortgaging to fund a buy-out, including arrangement fees, valuation fees charged by your lender, and early repayment charges if you're leaving a fixed-rate deal early.
- Estate agent fees when selling which are typically a percentage of the sale price. We recommend shopping around to compare rates, and picking the most suitable for you.
Your solicitor will provide a full breakdown of all costs before you proceed, so you'll know exactly what to expect.
Want to know how much you could receive from selling your home?
You can request a valuation anytime by logging into your online account. Or if you'd prefer to talk things through, get in touch - our team is here to help you make confident decisions about your home.
