What you need to know if you're thinking of transferring the ownership of your home.
From receipt of your application, which must include all the required information/documents, we'll process your request within 10 working days.
We can’t begin to process your request until all documents have been received.
We have no objections if you wish to borrow extra money on your mortgage to ‘buy out’ your ex-partner’s share.
You'll find further information about remortgaging your shared ownership home here.
In this situation you must seek legal advice. We require both parties to consent to the transfer unless a court of law orders us otherwise.
Yes, you're liable for instructing a solicitor and covering all legal costs associated with this process.
Yes, consent is also required from your mortgage lender.
The new owner will need to fit the criteria for the shared ownership scheme. One requirement is that the joint household income needs to be below £80,000. Also, they must not own another property.
We'll confirm this by asking them to register with the local Help to Buy Agent who administer the Government’s affordable housing schemes and provide us with their Help to Buy registration number.
You'll be liable for all costs associated with your transfer. This includes payment of our administration fee.
Helpful details about other aspects of home ownership.
Home ownership with Latimer
Buying more shares in your home.
Shared ownership home sales guidance.
Repairs and maintenance advice.