• Shared Ownership Lease Query

    By Guest on 13th Aug 2015

    Hi There, I am currently selling my 40% share of a leasehold flat - a Housing Association owns the other 60%. The HA have nearly had the 8 weeks to find a buyer after which I am free to sell my share myself through an estate agent. I am struggling to understand my lease, what I want to know is how can I find out if there is a restriction on what I can sell my share for. I know that if my HA finds a buyer, I have to sell my share for the percentage of the RICS valuation but does this still stand once the 8 week period has expired. As I am struggling with my lease, who should I go to to get clarification and what sort of costs would I be looking at? My HA are being no help which is no surprise! Many thanks.

  • 2 Answers

    By Guest on 15/08/2015

    If you are selling only your 40% share rather than selling 100% and staircasing out in which case you would pay the housing association for their 60% share from the proceeds of the sale then you will still have to sell at the market value and have the price of approved by the housing association. I should add that this is an assumption based on the usual housing association leases and you should ultimately rely on your conveyancers advice. You should not attempt this type of transaction without a conveyancer.

  • By Guest on 15/08/2015

    If you are selling only your 40% share rather than selling 100% and staircasing out in which case you would pay the housing association for their 60% share from the proceeds of the sale then you will still have to sell at the market value and have the price of approved by the housing association. I should add that this is an assumption based on the usual housing association leases and you should ultimately rely on your conveyancers advice. You should not attempt this type of transaction without a conveyancer.

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