When it comes to moving on, there are two ways to sell your Shared Ownership Home.
Selling your share
Under the terms of your Shared Ownership lease and in accordance with legislation you are obliged to allow Sovereign four weeks to nominate an eligible buyer.
To facilitate this we can advertise your property on our website to help you find a buyer who wishes to purchase your home on a Shared Ownership basis.
After these four weeks we can continue to market your property for you, or you can find a buyer for your share yourself, or use an Estate Agent.
Staircasing to full ownership and simultaneous sale
Some Shared Ownership leases allow you to staircase to full home ownership and sell your home at the same time. This allows you to find a buyer who wishes to purchase your home on the open market at 100% share. Sovereign will still need to approve any buyer. There may also be some restrictions on who you can sell to (these are known as Section 106 Restrictions, and are imposed by the Local Authority at the point of granting planning permission to build your home).
You can download our guide to selling your Shared Ownership home for more information on how to sell your home.