Everything you need to know right here in one place.

What deposit do I need?

The deposit on the share you’re buying can be as little as 5% depending on the mortgage lender, but it will also depend on your individual circumstances. We’ll put you in touch with a specialist Financial Advisor to discuss what you can afford.

Are there any fees to pay?

There are fees to pay, just like with any other home purchase. You’ll need to consider:

  • Our reservation fee (which will be accounted for at the end of your purchase)
  • Solicitor’s fees
  • Mortgage survey fees
  • Stamp duty (your solicitor will advise you on this)
  • Any mortgage arrangement fees if using a broker
  • Moving costs

Do I have to buy the minimum share advertised?

Yes. We usually advertise our developments at a minimum 40% share as a starting point, but this can vary between developments. You’re required to maximise your affordability, and purchase the highest share you can afford – up to a maximum of 75%.

Can I decorate?

Yes – absolutely! You can make it your home. But please check with our permission team if you want to make any structural alterations or change the fixtures and fittings, as this may affect the new build warranty. You’ll also need to request permission for any outbuildings you wish to add to your garden (if applicable).

Am I eligible if I already own a home?

Your existing home must be sold subject to contract for you to be eligible to apply for a shared ownership home. You may make an application, but your application will not be considered until you have sold your property.

How do you allocate properties to applicants?

If more than one applicant is interested in the same property, we’ll allocate the property according to our allocations policy. You’ll be prioritised for a property if you are a current social housing tenant or a member of the armed forces, and then if you have a connection to the borough in which you’re applying (e.g. you already live there, work there or have a close family connection with the area).

However, some developments may have more specific criteria, e.g. the Local Authority may requires us to follow their own Nominations Criteria. If this is the case you can find the criteria on the specific Development Listing.

When you make your application, please list your preferred plots on the application form. Unfortunately, we can’t guarantee you’ll be offered your chosen plot. We don’t allocate on a first come first serve basis, but by our allocations priority policy – those who are in the highest priority group will be offered their preferred choices first.

Allocations may take some time, and we’ll let you know either way if you’ve been successful. We also hold applications on file from qualifying applicants, should any progressing reservations not proceed.

Are the properties leasehold or freehold?

All homes purchased through Shared Ownership are leasehold, which means that you own the property and are granted a Homes England standard form of lease, but the land upon which the property is built is owned by the freeholder. This gives you the right to occupy the property for as long as the lease is valid.

Freehold, on the other hand, means that you own the property and the land upon which the property stands. If you are in a house, in most cases we will transfer the freehold to you if you staircase to 100% ownership.

Can I buy more shares?

Yes – you can buy more shares in your home when you can afford to: this is called staircasing. You can buy more shares until you own 100% of your home. Learn more about staircasing here.

Can I sell my shared ownership home?

Yes – if you decide the time is right to move on, you can sell your home. Find out about our resales process here.

Who do I share with?

You don’t physically share your shared ownership home with anyone – other than those you choose to live with! Shared ownership simply describes the relationship between you and settle. You own a share in your home, and we own the other. You are classed as an ‘owner occupier’.

Can I keep a pet?

You’ll need to refer to your lease to find out if you need to ask permission to keep a pet. You may need permission, and an administration fee may be payable.

When can I move in?

Your completion date – the day you move in – will be set when you exchange contracts. If your property is still under construction, you’ll complete on your purchase ‘on notice’ – this means once we take handover from the developer, we’ll issue you with 10 working days’ notice to confirm a completion date. A completion date cannot be confirmed until settle have taken handover of your property.

What happens on the day of completion?

Once we receive confirmation from the solicitor that the funds have been received and you have completed on the property, we’ll contact you and arrange a convenient time to handover the keys to your new home.

We’ll provide you with a helpful homeowner user guide, and take any meter readings so you can set up your utility accounts with suppliers. You’ll need to contact the utility suppliers and council tax department to confirm your completion date and provide opening readings.

You will also need to set up a direct debit for your rent to paid to us on a monthly basis. Simply contact our friendly customer services team on 0330 343 0016.

Settle Sales