Resales
This occurs when an existing owner of a part rent/part buy property decides to sell the share of the property they own.
When a HomeBuy owner chooses to sell, they must initially market their home through the housing association or developer landlord who is the freehold owner of the property (they own the other share of the property). During this normally short period of time, the housing association or developer landlord has a chance to sell the home to someone else looking for a low cost affordable home.
We provide housing associations and developer landlords with a list of qualifying applicants, from the HomeBuy register, who may be interested in purchasing a property, based on, for example, an applicant's local authority area of choice, price, size of property, and in some cases, local connection.
New purchasers buy the share which is for sale, on a shared ownership lease, which may range from 25% to 75% share. Purchasers may buy further shares in the property at a future date (known as staircasing) and may in time purchase 100% and become the freehold owners of their home. Exceptions may occur in some rural areas where planning restrictions affect the maximum percentage which can be purchased.
