We are often asked by clients what role Homes England play in a shared ownership purchase. Below we walk through the purchase conveyancing process and highlight at each stage how this is affected by the Homes England Shared Ownership Scheme.
Instruct a Solicitor
- Choose a solicitor with shared ownership experience.
- Provide ID, proof of funds, and mortgage details (if applicable).
- Your solicitor contacts the housing provider’s solicitor to start legal work.
Homes England’s Role:
The purchase will be under the Homes England Shared Ownership scheme, so the lease must follow Homes England’s model lease rules.
Receive & Review Contract Pack
The housing provider’s solicitor sends a draft contract pack, including:
- Homes England-approved lease agreement.
- Title documents (proving ownership of the developer/housing association).
- Service charge and rent details.
- Any planning permissions or warranties (e.g., NHBC).
Homes England’s Role:
The lease must comply with Homes England’s funding requirements, ensuring:
- The correct lease length (usually 99 or 125 years).
- Rent review clauses meet Homes England’s terms.
- Staircasing rules allow future share purchases.
Conduct Legal & Property Searches
Your solicitor carries out searches, including:
- Local authority search – planning and building control history.
- Environmental search – flood risk, contamination.
- Water & drainage search – confirms connections.
- Land Registry search – verifies legal title.
Homes England’s Role:
Ensures the property meets affordable housing funding rules before sale completion.
Review Mortgage Offer & Legal Documents
Your solicitor reviews your mortgage offer, ensuring:
- It aligns with the shared ownership lease.
- It complies with lender and Homes England requirements.
A Report on Title is prepared, summarizing key details.
Homes England’s Role:
Some lenders require confirmation that the home is part of a Homes England-funded Shared Ownership scheme before approving a mortgage.
Sign Contracts & Exchange
Once all legal checks are complete, you sign the contract and pay the exchange deposit (usually 5%-10% of your share). Contracts are exchanged, legally committing you to the purchase.
Homes England’s Role:
The housing provider may need to notify Homes England that the sale is progressing under their funding rules.
Completion & Handover
Your mortgage funds (if applicable) and balance payment are sent to the housing provider. You receive the keys to your new home and monthly rent payments on the unsold share begin.
Homes England’s Role:
Homes England retains an indirect interest in the property via its funding agreement with the housing provider.
Post-Completion Registration
Your solicitor:
- Registers your leasehold ownership at the Land Registry.
- Notifies the housing provider.
- Advises on future staircasing options (buying more shares).
Homes England’s Role:
If you staircase to 100% ownership, Homes England’s involvement ends. Some leases allow for freehold purchase after full staircasing, subject to Homes England rules.
If you are buying a shared ownership property make sure you have Rowlinsons Solicitors on your side. Call 0800 208 8011 or visit https://rowlinsons.plsquotes.uk/ for a no obligation conveyancing quote.