Buying Process

Buying A Property Can Be Daunting But Our Simple 5 Step Guide will help you!

Step 1 - Getting a Mortgage

We only allocate to people with a mortgage in principle. Click here for a list of experienced shared ownership mortgage advisers. You will need a mortgage offer on the specific property from the lender, not just a general agreement.

Step 2 – The Survey

Your mortgage lender will instruct a surveyor to inspect and value the property. You will be asked to pay for this when you apply for the mortgage. We recommend that you also arrange for a gas and electricity test to be conducted. You should receive your mortgage offer in 2-3 weeks.

Step 3- Solicitors & Costs

If you haven't done so already, appoint a solicitor. Click here to see a list of solicitors with experience of shared ownership conveyancing. Your solicitor will charge you for their professional advice and costs incurred in dealing with your property.

Step 4 – Legal Documents

Your solicitor will have regular contact with the Housing Association's solicitors and with the seller's solicitors. The types of information asked for are:

• Property forms - what you will own? (This includes the details of the boundaries)
• Title Deeds - Shows that the person selling the property owns it and advises of any obligations that affect the property - usually the lease
• Fixtures/contents – what is included in the sale? E.g. carpets, fitted wardrobes etc.

Finally and most importantly - THE CONTRACT. This is made by the seller's solicitors and states the terms of the proposed agreement to include price and names. Once this has been signed and the contracts exchanged there is no going back on the sale therefore you must buy at the price stated and the seller must sell.

Step 5 –Length of Process

The conveyancing process is complex and can take up to 12 weeks between the agreement of sale and moving in.