Leaseholders and Shared Owners

Selling your Shared Ownership Home

You may sell your shared ownership property at any time at its current market value.

Your first step should always be to tell Hexagon that you plan to sell. We will send you our pack entitled ‘Information Guide on Selling Your Home’, which includes an application form and details of the process involved.

You have two choices when selling. You can sell the part of the home that you own to someone nominated by Hexagon, or you can buy the remaining share, and then sell the property outright.

Check Your Lease

The rules on selling are set out in the Shared Ownership Lease you signed when you bought your home.  Leases can vary, but normally they give a ‘nomination period’ to enable us to find a new buyer for your share of the home.  If we cannot find you a buyer within this time, you can then sell your home on the open market.

If you own your home outright you can also sell it on the open market. However, Hexagon has the right to buy the property back at the current market value at any time the home comes back onto the market in the 21 years after it has gone into 100% ownership. This is in order to keep a good stock of affordable housing available for local people.

You should talk to Hexagon or your legal advisor about these and any other clauses in your lease that affect the sales process.

Section 20 Procedure

Under section 20 of the Landlord and Tenant Act 1985 (amended by section 151 of the Commonhold and Leasehold Reform Act 2002), we must consult you about the work or services we provide in certain circumstances. You can find a copy of the Section 20 Procedure here.