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If you've found your new shared ownership home and want to buy it, below are the 6 steps to the buying process. Click each item to open and read it:

1. Register

Usually, registrations for our new homes are open for a week, and in this time you’ll need do three things:

1) Make sure you’re registered with the relevant Help to Buy agency for your region - REGISTER HERE.

2) Complete a financial assessment with one of our panel of Independent Final Advisors - your IFA will then send us your assessment for us to submit your registration to the local authority.

3) Start thinking about the solicitor you’d like to use to complete your purchase – there’s no list of people we recommend, but it’s a good idea to use a company that have dealt with shared ownership purchases before.

2. Allocation

A process where the local authority for your region, or Sovereign, by using our own allocation policy, will approve buyers based on housing need. This could involve a number of factors including the number of people in the household, connection to the local area, affordability and the length of time you have been registered with the Help to Buy agency.

Different developments and different local authorities have different criteria for allocation. 

Please note: This process can take 2-3 weeks. We will be in touch as soon as we know the outcome.

3. Submit your Decision in Principle

A Decision in Principle is a document from your mortgage lender, agreeing to lend you the required mortgage based on an initial assessment of your circumstances (income, outgoings, financial commitments, credit score etc).

Once you’ve been approved to purchase a property you’ll have 48 hours to return this document to our team. Once we’ve received it you can officially choose your plot. 

4. Complete your reservation

We’ll send you a link to complete your reservation form on our website. At this point you’ll need to do two things:

1) Transfer your £250 reservation fee by bank transfer (our bank details are on the reservation form page).

2) Submit your solicitor details - we’re now ready to start the legal process of buying your home. We’ll need your solicitor details so our solicitor and your solicitor can gather all the information required for searches and to draw up contracts.

5. Conveyance

Conveyance is the legal process of transferring property from one owner to another. During this six week process you’ll need to call your solicitor for any updates. We have a team of dedicated Completions Coordinators to keep things moving too.

6. Move in

Once both solicitors have completed the contracts a completion date will be agreed. This is the day the final amount of money is transferred and our team can meet you with the keys to your new home.

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