How Shared Ownership works
We’ll walk you through each step of buying your Shared Ownership home with us.
Your steps to Shared Ownership
1
Find a property you like and register your interest by emailing sales.enquiries@poplarharca.co.uk.
2
We’ll send you the property details along with information on completing an initial financial assessment with an Independent Mortgage Advisor (IMA).
3
Once your affordability is confirmed, we’ll arrange a viewing for you.
4
If you’d like to go ahead, you can reserve the home with a £500 reservation fee. This includes a 14-day cooling off period from the date of your cover letter, where you can receive a full refund if you decide not to proceed or can’t secure a mortgage.
5
After the cooling-off period, we’ll send your offer letter, application and offer reply form via a secure link.
6
By now your mortgage advisor and chosen solicitors will be working towards getting you into your new home.
7
Our Sales Progression team will stay in touch, updating you weekly as we work towards exchanging contracts and agreeing a completion date.
8
After the exchange of contracts, we’ll book you in for a full induction into your new home ahead of completion.
9
Completion day: time to pick up the keys to your new home!
10
After you’ve moved in, we'll check in regularly to help make sure you settle in smoothly.
Shared ownership FAQs
What size share can I buy?
Most shared owners buy between 25% and 75% of a home, depending on what’s affordable. Your Independent Mortgage Adviser (IMA) will help work out what’s right for you.
Read more about Shared Ownership costs and affordability.
Can I buy more shares later on?
Yes – this is called staircasing. You can find out more about this here.
How is the rent calculated?
Rent on the share you don’t own is in line with government guidance and reviewed each year. We’ll explain your exact costs before you reserve a home.
Can I use my own solicitor or mortgage adviser?
Yes – you’re welcome to choose your own. Some people prefer to use our recommended partners because they know our process well, but it’s completely up to you.
What paperwork will I need for my financial assessment?
During your initial assessment, your Independent Mortgage Advisor (IMA) will usually ask for:
- payslips (last 3 months)
- ID
- proof of address
- proof of savings
- bank statements
- details of loans or credit commitments
What is a Key Information Document (KID)?
A KID explains your lease, rent and service charge in a simple format. You’ll receive this when you reserve a home.
Can I sublet my Shared Ownership home?
Shared Ownership leases don’t normally allow subletting. If your circumstances change, please contact us and we can talk through your options.
What if I'm worried about my payments?
Please contact us as soon as possible. We’re here to help and can talk through your options before things become stressful.
Useful documents and policies
Making homeownership possible with MySafeHome
Shared Ownership Sales Progression Policy
Shared Ownership Resale Policy
Shared Ownership Financial Assessment Policy
Shared Ownership Completion Policy
Shared Ownership Allocation Policy
Our suggested panel solicitors
Panel solicitors break down
Service Charge Information Document (SCID) template