Selling your shared ownership home

Selling your home is a big decision, and if you own a shared ownership property you might be wondering how the process works. Here we’ll guide you through what to expect, how the process works, and what to think about before you get started.

Can you sell a shared ownership home?

Yes, you can sell your shared ownership home at any time and you don’t need to own 100% of it either.

How selling works

If you own your home outright, you're basically able to put it on the market straight away. If you're selling your portion of a shared ownership home the process is slightly different.

Here’s how it usually works:

1. Tell your landlord

You first need to let your landlord know you want to sell your home. They’ll explain next steps and confirm any conditions in your lease.

2. Get a valuation

You’ll need to pay for a valuation from a RICS-accredited surveyor open_in_new. This will tell you how much your portion of the home is worth and can be sold for.

3. Wait the nomination period

Once you tell your landlord you want to sell your home, they usually have a period of time to find a buyer. This is called the nomination period and is often between four and twelve weeks depending on the lease.

4. Sell on the open market

If your landlord doesn’t find a buyer within the nomination period, you can sell your portion of the home on the open market. Some people choose to buy the remaining portion of their home while selling, so they own it outright. This is known as back-to-back staircasing and allows you to then sell the full value of the home in one transaction.

5. Get legal advice

You'll need a solicitor to help with the process of selling your shared ownership home. They'll sort the legal side of things and make sure you've completed all the right paperwork.

What happens to your mortgage

When you sell your home, your mortgage is paid off using the money from the sale. If your portion of the home has increased in value since you bought it, you may receive money back - we call this equity. If the value has gone down, you might need to cover the difference. You can find out more about this in our negative equity guide.

Things to think about

Before you start the selling process, it’s worth considering:

Do you want to staircase first?
Some people choose to buy more of their shared ownership home before selling. Owning 100% can make the sale easier and might even mean you get money back, as you're more likely to have equity in the property.
Are there any restrictions in your lease?
Your lease may include things about how and when you can sell. Your housing provider can help explain these in more detail.