Buying and selling your home
We understand that things can change. At some point in the future you may want to sell your home and move on to pastures new, or you may want to buy more shares in your shared ownership home. We're here to help every step of the way.
Buying more of your home
If you've purchased your home through shared ownership, you'll currently own a specified share of your home, for example 75%. Through a process known as staircasing, you're able to purchase more shares from us. The maximum amount you can staircase to depends on your lease, but many allow you to increase to 100% ownership.
First, you'll need to get your property valued to confirm the price of the extra shares you want to buy. The valuation must be provided by an independent RICS certified surveyor – we can arrange this for you if required. You will pay for the valuation and we will require a copy of the report. Please make the surveyor aware if you have carried out any major improvements to your home – this will be disregarded when the property is valued, so you are not paying for the added value of any improvements you have carried out.
Extending your lease
When you buy your home it comes with a leasehold of 60, 99 or 125 years, depending on your agreement. At the end of this leasehold period, the property will revert back to the freeholder. If you are a 100% leaseholder, you have a statutory right to extend your lease. If you want to purchase the lease, please contact your solicitor for guidance on likely costs. If you are a shared owner and wish to extend your lease, a cost will be involved. Please contact us if you would like to discuss this further.
Selling your home
We're leasehold and shared ownership specialists and we're here to help you if you want to sell your home.
If you want to sell your shared ownership property, you can do so at any time. From when you decide to sell your home, there is a 12 week period in which Redwing Living solely may attempt to find a buyer for your share. After this period, you are free to market the property with your chosen estate agent, or through Redwing Living. If you own a leasehold property and want to sell, the requirements for selling will be in your lease. Our dedicated estate agency service offers a fantastic range of tailored packages to help you sell your leasehold or shared ownership property.