Only once the nominations period has passed without heylo finding a purchaser, you have the option to instruct a local estate agent to market the property on the open market. The agent can market your share, or the entire property, unless restrictions on the share that can be marketed are stated in your lease.
Admin Fee (purchaser found by heylo in nominations period) - £1,000 +VAT Admin Fee (purchaser found outside of nominations period) - £450 +VAT. This fee will be collected on completion.
You can download our resale application form to sell your property here - https://heylohousing.com/staircasing You will need to send your completed form and supported documents requested to resales.staircasing@heylohousing.com
You can find out more about staircasing on your Home Reach property here - https://heylohousing.com/staircasing
You can download our application to staircase form to buy more shares in your property here - https://heylohousing.com/staircasing You will need to send your completed form and RICs valuation to resales.staircasing@heylohousing.com
You will no longer pay heylo any rent. However, there are still some ongoing costs you need to be aware of, depending on what type of home you own. If your home is an apartment: you will continue to pay service and management charges, including ground rent. You will remain covered under the block’s buildings insurance policy. If your home is a house: it may be possible for the freehold to be transferred to you when you have staircase to 100%. This will depend on the title which heylo holds for your property and the staircasing provisions in your shared ownership lease. In some cases, you may still have to pay an estate management charge if you live on an estate and are responsible for some of the communal upkeep costs.
Yes, there can be restrictions on staircasing. Check your lease, which will mention whether you are entitled to purchase 100%, or if the property has a restricted maximum share.
Once heylo’s solicitors have been instructed, the process will take approximately 6-8 weeks*. *Arranging a valuation and mortgage discussions (if applicable) not included within this timeframe.
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