Shared ownership resale FAQs
Frequently Asked Questions about selling your shared ownership home.
What are the costs of selling my shared ownership home?
When it comes to selling your home, you’ll be responsible for the following costs and fees.
Valuation fees: The cost of a valuation depends on the valuer you choose. Always check with them. We have an experienced panel of RICS-accredited surveyors who offer competitive rates when you instruct them quoting 'Latimer'.
Your valuation will only be valid for three months. If you don’t complete your sale by then, you’ll need to pay for an updated one.
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. They'll need to ensure the report provides the following information:
- Confirmation that the report is a market valuation for the purpose of staircasing through Clarion Housing, Level 6, 6 More London Place, Tooley Street, London, SE1 2DA.
- Confirmation that Clarion Housing Group can rely upon the contents of the report.
- Evidence of at least three comparable properties detailing the full address, sold price and date.
- If you have carried out home improvements, the report must include two figures; one figure with home improvements and one figure excluding home improvements.
- Confirmation that valuation will remain valid for three months from the date of report.
Resale fee: Your lease will refer to a nomination fee, usually 1 or 1.5% plus VAT of the share value. This cost is included within your total sales service fee.
We work with a specialist shared ownership independent consultancy, Urban Moves. They offer a comprehensive nomination service at a competitive price, giving you the best possible chance of finding a buyer as quickly as possible. Browse the Selling your shared ownership home page for more information.
Leasehold pack (LPE1), or pre-sale management pack: Costs differ depending on if you're selling an apartment or a house.
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.
Legal fees: You'll need to pay our legal fees as well as your own. Check our administration fees table for details of our charge. Your own legal fees will vary depending on who you choose and how complex your transaction is.
We have an experienced panel of solicitors, with lots of experience in shared ownership. You don’t have to use one of our panel, but we strongly recommend making sure that whoever you choose has experience with shared ownership.
EPC (Energy Performance Certificate): A guide of the latest cost for requesting an EPC is on our administration fees table.
If you’re wanting to vary your lease or extend your lease, these costs are charged separately, subject to obtaining a quote.