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Our pre-sale promise to you

Our pre-sale promise to you

Buying your first home is the fulfilment of an aspiration for many people. So it’s important to make sure you are buying into a shared ownership scheme that is sold fairly, professionally and has high standards, with your interests at heart.

Over recent years a number of different types of shared ownership scheme have been developed. We develop and sell the government-backed, standard shared ownership scheme. This offers you a level of consumer fairness and reassurance which other schemes may not.
 
When you buy a shared ownership home through Hastoe Housing Association we make you the following promise:

You are buying through a government-recognised, not-for-profit provider.  Any surplus we make is used to develop more new homes or to improve homes and the communities where we work, not as profits for shareholders.

We will use the government’s shared ownership lease, as agreed with major high street mortgage lenders.  The lease we use contains fair terms, as approved by government, and is accepted by the major banks and building societies who provide shared ownership mortgages.

We will carry out a proper and fair assessment of your ability to buy and sustain a shared ownership home, based on government guidelines.  We use the government’s approved Affordability Calculator to make our assessment. If you are not eligible we will tell you why and try to suggest alternative suitable housing options.

We will guide you through the entire sale. We will answer your enquiries within an agreed, published timescale and give you a named contact.  We will explain what you need to do and what we will do during the process.

We will make available a list of qualified financial advisors and solicitors who are fully independent, understand shared ownership and can help make sure your mortgage and legal transaction go smoothly. There is no obligation for you to use them, but using advisors and solicitors who understand shared ownership may save you time and money.

We will only charge rents in accordance with government guidelines.  The rents we charge on the part of the home you do not own are capped by the government to ensure they remain fair and reasonable.

The value of the home you buy will be a fair market value.  We always take advice from qualified chartered surveyors on our selling prices and we will keep prices as affordable as possible.

The home you buy will be built to high energy efficiency standards.  All housing association built homes are required to meet high, modern energy efficiency standards.

You can buy more shares in your home, up to a maximum of 80% or 100% depending on restrictions within your lease, when the time is right for you.  There is no obligation for you to buy additional shares, it’s up to you but we are here to advise you when you want to explore this option.

When you choose to sell we will help you find a buyer.  Your lease will give us a period of time, usually eight to twelve weeks, to find a buyer for your home.  For rural schemes in particular, we use this time to find another purchaser with the right local connection who is in need of a shared ownership home.

We will manage your service charges in a clear and consistent way.  We will explain what any service charge covers before you buy your home.

We will give you access to a fair and transparent complaints process.  We publish a clear complaints process which you can use if you are unhappy with any aspect of our service. This includes recourse to the independent Housing Ombudsman if you exhaust our process and the issue is unresolved.

Hastoe has been developing and managing government-backed shared ownership homes for over 25 years. We currently own and manage over 400 shared ownership homes. Buying from an established, experienced shared ownership provider may prove important when you come to sell your home.
We are a rural specialist and work closely with communities to develop new homes to meet the needs of local people. We are committed to sensitive, sympathetic design and high standards of environmental build and performance.

You can get in touch with our Sales Team at any time with questions about buying a shared ownership home.

Tel: 0800 783 3097
Email: sales@hastoe.com
Visit: www.hastoe.com
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