Your shared ownership lease
Your lease explains your responsibilities as the shared owner and Hastoe’s responsibilities as the landlord. It is an important document and should be kept in a safe place. For more information about your home and lease please read our guide to your shared ownership lease.
If you need legal advice regarding your lease, you should seek advice from an independent solicitor. Any other questions regarding your lease can be discussed with your Area Housing Manager.
A guide to your shared ownership lease
Buying further shares in your home
Once you have purchased the initial share of your home, you can usually buy further shares in your property. This is known as staircasing and enables you to own a greater proportion of your home.
In order to consider buying further shares in your home, you will need to contact Hastoe's Sales team to confirm the maximum share you can own. They can also explain the process to you.
Where a property is restricted to 80% ownership, we do not recommend staircasing above a 50% share as it may cause delays finding a suitable buyer if or when you come to sell your home.
You can find out more about how to buy more shares in your home in the Sales team's guide to staircasing.
Selling your shared ownership home
You can choose to sell your share at any time, but your shared ownership home must be advertised for sale through Hastoe in the first instance. As per your lease, Hastoe has a set time period to find a buyer for your share.
We will do our very best to find you a buyer quickly by marketing your home on our website, the Help to Buy agent’s website and the online property website Zoopla. Before we can market the property, you will need a RICS (Royal Institute of Chartered Surveyors) valuation carried out, and the property must be advertised at the price stated in the report. You will also need to send us information on the property, photos and an Energy Performance Certified (if we do not hold a valid one on our systems).
You can find out more about how to sell your shared ownership home in the Sales team's guide to selling.
If you have any questions that are not covered in the guide to your shared ownership lease please get in touch.
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