The buying process

Before you can view or reserve a shared ownership home with us, you'll first need to make sure that you are eligible for the scheme.

Step 1.

Once you have found a property that you are interested in, simply contact us by completing the contact form on the property listing.

• Application form; complete as fully as possible, including your Homes 4 Wiltshire reference if applicable.
• Budget planner; please complete the left-hand column of this form
• Personal financial planning questionnaire*

*By completing this form, you consent to us forwarding the information via secure email to our financial adviser partner who will contact you to discuss mortgage viability and options.

If you have your own financial adviser or mortgage broker, please provide their name and contact details where specified on the application form. The adviser/broker is required to provide a Homes England calculator as part of your assessment.

Step 2.

You will need to supply supporting documents for your application also. This includes;

• photographic identification for each applicant
• your latest three months payslips for each applicant
• your latest three months bank statements for each applicant (including credit card statements)
• a copy of your full credit report for each applicant; this can be obtained online via providers such as Credit Karma, ClearScore or Call Credit.

Step 3.

Next we will need to undertake a financial assessment of you. Once this has been completed, we will confirm our decision with you and arrange a viewing of your chosen property.

Step 4.

Once you have viewed and decided you would like to go ahead, a reservation fee of £250 will be required to reserve the property for you.

The reservation fee will be deducted from what you pay on completion of your purchase.

Step 5.

Appoint your mortgage adviser and solicitor, and provide us with their details.

Your mortgage adviser will;

• obtain all of the required documentation from you
• submit your mortgage application for you
• liaise between you and your mortgage lender to secure your mortgage offer.

Following this, we will then issue a Memorandum of Sale (MOS) to all solicitors involved. This essentially summarises the details of your proposed house purchase and will give a date by which we would like to exchange contracts.

Your solicitor will;

• make sure you have everything you need to help you buy your shared ownership home
• check the lease and speak to your mortgage lender and our solicitors
• carry out searches
• check that all paperwork and your mortgage are in place to allow you to complete the purchase.

Step 6.

After you have received your mortgage offer and your deposit has been paid, we will then agree a completion date with you and exchange contracts, which fixes the completion date.

Step 7.

Completion day!

Completion day is when the money is transferred via solicitors and once done, means you will get the keys to your new home!

On completion day you will be met at your new home by a representative from Selwood Housing's shared ownership team. You will be provided with a 'Handover Pack' containing;

• the keys to your new home
• a home users guide along with instruction manuals for any appliances
• certificates for various installations and warranties relating to your home.

Don't forget one-off fees

It's good to be aware of any one-off fees you may need to pay before you move in. These include;

• legal fees
• stamp duty
• mortgage adviser fee if a mortgage application is submitted
• mortgage valuation fee and any arrangement fees charged by your mortgage provider
• removal costs
• reservation fee of £250 – this will be deduced from what you pay on completion of your purchase
• mortgage deposit – this will vary depending on your lender
• up to two months' worth of rent and service charges, paid at completion.