Selling your home & buying us out
Whether you want to buy us out completely, or sell and move on, you're in control of when and how it happens.
Contents
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 and what to expect along the way.
Your options explained
Staying as you are
You're under no pressure to change anything. With a 99-year lease you can continue living in your home, paying rent on our share, and enjoying long-term security without needing to buy more or sell.
Increasing your share
Buying out means buying additional shares of your home from Co-Ownership, typically in 5% steps, though you can buy larger blocks if you prefer. You can buy out as much or as little as you want, all the way up to 100% ownership if that's your goal.
Each time you buy more, your rent decreases because you own a bigger portion. Keep in mind that as house prices rise, so does the cost of each share, so it's worth acting when it feels right for you.
You'll find more information on increasing your share over on Owning more of your home.
Buying us out completely
Buying us out means buying the remaining share from Co-Ownership so you own 100% of your home. Once complete, you'll no longer pay rent to us. If you still have a mortgage, you'll continue paying that until it's cleared, but the property is entirely yours.
Selling your home
You can sell your Co-Ownership home whenever you choose, regardless of the share you own. You don't need to buy us out first. When you sell, the proceeds are split between us based on the shares we each own. The money we receive then goes back into helping more people become home owners.
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.
What happens to the money from your house sale
When your home sells, 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 your outstanding mortgage balance - if you have one - 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.
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.
Understanding buy-out valuations
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.
Costs to consider
When increasing your share, buying out, or selling, you'll need to budget for certain costs, including:
- The £75 valuation fee is required for all three options and must be paid when you request the valuation.
- Legal fees are your responsibility when buying out or selling. Your solicitor will provide a quote for their services.
- Mortgage fees may apply 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 apply when selling and 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.
Ready to buy us out, or looking to sell 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.
