Shared ownership resale FAQs

At the time you decide to sell your home we’ll provide a leasehold information pack (LPE1), also known as a pre-sale management pack. This is provided to the buyer’s solicitors to enable them to raise enquiries in relation to your property.

Payment of the management pack is taken on completion of the sale. Your solicitor will ask you for an advance payment (an undertaking) to cover the cost of the pack, should the sale fall through.

If you decide not to proceed to sell before you have a buyer in place, this fee will be returned to you.

Also known as a pre-sale management pack, payment of the pack is taken on completion of the sale. Your solicitor will ask you for an advance payment (an undertaking) to cover the cost of the pack, should the sale fall through.

It can take 15 working days for your leasehold information pack to be produced.

You’re required to obtain an up to date EPC for your home. This should be submitted with your resales application.

Find out if you already have a valid EPC thought the government’s Energy Performance of Buildings Register.

Before you can market your home, you need a valuation from a RICS-qualified surveyor. The cost of a valuation depends on the valuer you choose. Always check with them.

This determines the value of your home based on current market values and any improvements you have made. Your valuation will be valid for three months and needs to remain in date until you complete your sale. If you don’t complete your sale in that time, you'll need to pay for a valuation extension.

We have a panel of RICS-qualified valuers who can assist you. They're familiar with our developments and have experience in the shared ownership market.

• If you have found a buyer, and they're buying more shares than you already own as part of the purchase, an in-date valuation is required up until the point the sale completes. If your valuation expires during this time, provided the original valuation was in date at point of reservation, Clarion will cover the cost of the first valuation extension up to the value of £180.

Should your post code not be covered by the surveyors on our panel you can visit the RICS website to find an independent RICS-registered surveyor in your area.

• When using a valuer outside of our panel, if you don't complete your sale before the original valuation expires, Clarion will cover the cost of the first valuation extension up to the value of £180.

Unless you’re a freeholder you’re obligated under the terms of your lease to allow Latimer, with Clarion Housing, to search for a suitable buyer within four weeks before you’re able to market your property with an estate agent.

This gives us the chance to find a buyer who also requires the assistance of shared ownership for their purchase. We work with specialist shared ownership sales agent Urban Moves to achieve this.

Once you're outside of your nomination period, you're able to choose to sell the share you own for less or more than your original RICS valuation.

Remember, if you decide to market your home higher than the RICS value, it may be ‘down valued’ by a mortgage lender, who would also carry out a RICS valuation prior to offering a mortgage for the property. 

If your buyer is buying more shares from Clarion during their purchase, and you're marketing your share for lower than the RICS value, Clarion's additional shares still need to be sold at the original valuation.

We will ensure your chosen estate agent is aware of this.

At the point you decide to sell you’ll need to pay for:

• Your valuation. You can use one of our panel surveyors or you can appoint your own surveyor.
• Your leasehold information pack. Latimer by Clarion Housing Group will take payment for this service.

At the point you instruct a solicitor you’ll need to pay for:

• Our solicitor’s upfront fee for their legal work before commencing work on your file. 

This fee is requested via your solicitor and paid to us on completion. If you withdraw from the sale after legal work has commenced, this fee is still payable. Your resales fee of 1.5% plus VAT is paid on completion.

We'll support you, your buyer and your solicitor to have your sale completed within three months from when the legal paperwork has been issued.

From the time we receive your sales instruction form, your property is aimed to be marketed within 10 working days. To do this we'll obtain information on your home. If you're selling through Urban Moves, they will take photos and produce a floor plan for the advert.

We aim to find a buyer for your home within the first eight weeks. Applications will be processed and your home offered to the successful applicant.

Once your buyer has provided all their information to us, we aim to issue all legal paperwork within 5 working days.

You’re unable to sell more shares than you own, but a buyer can choose to purchase more if they can afford to do so. They can do this through a process known as staircasing. This will not affect your sale or the money you receive.