Advice For GHA Home Owners
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Advice For GHA Home Owners
Advice for shared owners and home owners.
Welcome to the pages dedicated to existing GHA shared owners.
If you require further information or wish to comment on our services you can contact the Leasehold team by email.
To view the latest Shared Owners Viewpoint magazine click either the image or link below.
If you require further information or wish to comment on our services you can contact the Leasehold team by email.
To view the latest Shared Owners Viewpoint magazine click either the image or link below.
The leaseholders handbook return to top
The leaseholders’ handbook has been produced for shared owners who live in properties that are managed by Gloucestershire Housing Association. If you have not received a copy or would like to receive a replacement then please contact the Leasehold Management team in the marketing and Sales department.
The handbook covers the following topics.
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Information about GHA and our service standards
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Useful information about your home
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Looking after your home
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Your lease explained
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Your questions answered
Buying further shares in your home 'Staircasing' return to top
The shared ownership lease usually allows the purchase of further shares in your home.
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You cannot purchase further shares in your home if you have a ‘fixed equity’ lease.
Some of our leases in rural areas have restrictions on the maximum share available for staircasing.
Please contact the Leasehold Services team if you are unsure about the type of lease covering your own home.
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There are six steps to purchasing further shares in your own home.
Step 1 Requesting an independent valuation
Once you have decided to buy further shares it is necessary to obtain an independent valuation of the open market value of your home. The valuation is provided by the District Valuer service. The current cost is of the valuation is £230 ( £200 plus VAT) , payable by shared owner. If you decide to staircase then please send a cheque made payable to Gloucestershire Housing Association. We will need to provide a contact telephone number to us to pass on to the valuation service for arranging access to your home.
Step 2 The valuation
Within three working days we will commission the valuation. The valuer will contact you to make an appointment; conduct the valuation and report to the association.
Step 3 Receiving the figures from the association
We will work out how much it will cost to buy the share and write to you within three working days. The valuation is valid for THREE MONTHS from the date of the valuer’s report.
Step 4 Obtaining financial advice and engaging a solicitor
We recommend that you take advice from your financial advisor or lender about buying the extra shares and establish if there will be additional costs from your lender. You can normally extend the amount of your mortgage to pay for the additional share.
Step 5 The legal process
You confirm your decision by returning a form to the association with details of your solicitor. We inform our solicitor and they both work together and with your chosen lender to carry out the legal transaction and arrange payment for the share on a specific date
Step 6 Confirmation from the association.
We will write to you to confirm the staircasing has taken place and advise you of the new rent due to the association.
Selling your home through 'Resales' return to top
Selling your home through 'Resales' return to top
Like all homeowners you may sell your home whenever you choose. The lease for your home describes the arrangements for selling share of the property.
If you wish to discuss re-selling then please contact the Leasehold Services Team for more information. It is important that you do not start re-selling for the following reasons:
- When you wish to sell your share you are required to give the association the right to find a suitable buyer for your home. This is called the ‘nomination period,’ and is usually four weeks. The purpose is to make your home available to others who are unable to afford buying a home outright. If we are unable to find a buyer within the nomination period then you are then allowed to seek a buyer on the open market. Please note that anyone buying your share will need the approval of the association and they will need to complete our application form.
- House sales are now subject to the provisions of the government’s Home Information Pack regulations where sellers are required to provide a Home Information Pack (HIP) for any possible purchasers. The cost of providing the HIP falls to you as the vendor. Under the current regulations we require confirmation that a HIP has been commissioned before we can commence our search for a buyer.
- It is necessary to determine a price for marketing your home. Further information is available from the Leasehold Services Team.
Re-mortgaging and further advances return to top
Please see our policy
