The shared ownership process

You’re buying a home. There will be paperwork, solicitors and mortgage advisers involved just like with any other house sale. At the end of the day, you’ll pick up the key to your own front door. 

1. Apply 

After you've found the right home, the first step is to complete your online application with Help to Buy. 

2. Financial advice 

Once we have your details we'll get in touch to talk about your requirements and affordability, then we'll ask you to contact one of our chosen Independent Financial Advisers. 

The Independent Financial Adviser will work through your finances in detail. They can also help you find a mortgage if you need them to. 

3. Reservation 

After all of the legal and financial checks are complete, we'll offer you a property and you'll pay a small deposit of £500 to formally reserve it. If you're buying a new-build home, £250 of the cost of this deposit comes off the price when you complete the purchase. 

4. Instruct solicitors 

We both instruct our solicitors to take care of the formal side of the sale. Your solicitor will make enquiries about the property on your behalf and report back to you. They are legally bound to act in your best interests so make sure you understand the information they share with you before you sign the final legal documents. 

Your mortgage lender will carry out a valuation of the property before making you a formal mortage offer. 

5. Exchange contracts 

At this stage, we're ready to exchange contracts and you'll have to pay the full deposit for your share. Your solicitor handles all of the money for your purchase, including your deposit and the loan advance from your mortgage provider. 

6. Agree a date 

After we've exchanged, we're both committed to the sale and can agree a date for completion. 

7. Move home

On completion day, we'll meet you and give you the keys to your new home!