How to apply for Shared Ownership
There are some important things to think about before applying to buy one of our Shared Ownership homes:
- Who you’re buying with - if you apply together you’ll buy together
- Number of bedrooms - you can’t apply for a home with fewer rooms than you need
- Keeping your application details up to date - we’ll use it to decide your eligibility and priority
- Getting your paperwork ready - we’ll need to see evidence of all the information you give us on the application form, so getting all these details ready to view like your financial statements can help the process
- Sorting your mortgage - do your research to see what’s available to you. Explore our list of suggested SFAs and solicitors who can help you through the process
Steps to buying a Shared Ownership home
Step one: Apply
It all starts with our online application form. If you’re an existing customer and you’ve filled out the old application form, please sign up using the same email address. Once your account is created your saved application will be available.
Step two: Assess
Take a look at our available homes and assess which one’s right for you. Give the team a call on 020 3811 1725 and once you’ve passed a quick eligibility check we can book you in for a viewing.
Step three: Attend
Once you’ve found a home you like, now’s the time to see it in person. If you think you might want to make it your own, make sure you let our team know.
Step four: Act
Once you let us know you’re interested in a home we’ll let you know if we’ve been able to match you to one of your choices. If so, we’ll get in touch within 10-15 working days by phone or email and you’ll have 24 hours to let us know you’re still interested (there’s no financial commitment at this stage). We know how important finding your dream home is so we’ll always try and match you to your highest available choice at the developments you view, but if we can’t we’ll add you to the reserve list and contact you if something becomes available. If you change your mind just call our sales team and let them know which homes you want to add or remove. If we make you an offer but you turn it down we’ll keep you on the reserve list and if we don’t hear back we’ll assume you’re not interested anymore and you’ll need to contact us to rejoin the reserve list.
Step five: Analyse
If you want to go ahead we’ll need all of the information and evidence for an initial affordability assessment. You’ll need to speak to one of our specialist financial advisors and find a solicitor with Shared Ownership experience. We’ll then put you in touch with a sales consultant and invite you to complete a simple ten-minute online module.
Step six: Advise
Within 48 hours we’ll arrange a purchasing interview over the phone with your sales consultant. They’ll tell you about the lease you’re buying and share any specific details about the home you might not know. We’ll also agree the exchange deadline with you, which is always within four weeks of instructing solicitors.
Step seven: Agree
After the interview, if we can all move forward, you’ll need to sign a reservation agreement and pay a £500 reservation fee. You’ll also need to give us your solicitor’s details and formally instruct them as well as submit your loan application (or instruct an IFA to do it for you).
Step eight: Approve
Your mortgage lender will carry out a valuation survey, and from instruction you’ll have four weeks to exchange contracts. To exchange you’ll need an approved mortgage offer ready to go and your solicitor will need to answer any questions. Your solicitor will then pay us your deposit, exchange signed contracts - the purchase is then legally agreed. You’ll need to keep in touch with your solicitor, lender or SFA, and us throughout the process to make sure we’re on target to meet the exchange deadline. You should also take this time to read and understand the details of the lease, and ask your solicitor any questions before exchange. If for some reason your mortgage offer isn’t ready in time, we’d ask you to exchange in principle, subject to the offer. If you still can’t get a mortgage offer we’d withdraw from the sale and refund your deposit (but if we have to cancel the sale for any other reason we won’t be able to refund your deposit).
Step nine: Arrive
If your property is ready to move into once you’ve exchanged we’ll get a fixed completion date, which will be within 10 days of exchange. If you’re buying off-plan our solicitors will serve a formal notice to your solicitor when the building is ready to move in and you’ll need to complete within 10 days of that. Before you complete, we’ll ask you to come along to a home demonstration so you can see your home for the first time, measure up, take meter readings and get to know your new space. Completion happens when our solicitors get your final payment including rent, service charge and disbursements. You’re then legally and financially responsible for the home. We’ll arrange for you to collect the keys so you can move in and celebrate!
Ready to apply?
Complete our online application form >>>
If you’ve already completed the form you can login using your email and password. To apply you need to:
- Have a household income under £90,000
- Provide information about your monthly income and savings including other financial commitments
- Let us know your current living situation and what kind of home you’re interested in
By continuing the process you accept that we’ll process and keep your information. But don’t worry - we promise we’ll keep it private and confidential and we’ll never share it with third parties. Find out more about our privacy and legal policies.
Request an application pack
If you’d prefer to keep things on paper we can post you an application pack. Call 020 3815 2222 or email sales@nhg.org.uk
Got questions?
If you need help filling out your Shared Ownership application form get in touch with the team on 020 3815 2222