Setting the Record Straight on Service Charges, Resales and Staircasing
There’s no shortage of opinions about Shared Ownership, and not all of them are based on facts. With online myths and confusion about service charges, resales, and staircasing, Southern Housing New Homes launched the Shared Ownership Unpacked Podcast to bust myths around them.
Hosted by Joe Bartlett (aka The Home Buyer Coach) and Southern House New Homes very own Rob Horne, with guests sharing real-life stories and industry insights, this new podcast offers honest conversations into how Shared Ownership really works. It covers the good, the bad, and everything in between to help you make an informed decision.
Service Charges: What They Are and What They're Not
One of the most common myths is that Shared Ownership service charges are excessive or unique to the scheme. In reality, service charges are part of most leasehold ownerships, whether you own outright or through Shared Ownership.
These charges typically cover communal maintenance, cleaning, lighting, building insurance, and sinking funds for future repairs. What sets Shared Ownership apart is the transparency and oversight housing providers like Southern Housing New Homes aim to deliver.
On the podcast, Vikki Walker, Director of Sales & Marketing at Southern Housing New Homes, and Anthony Hall from Censeo Financial go into detail about how charges are calculated, what they pay for, and how providers work to keep them fair and predictable.
Resales: A Clear, Supported Process
Some people worry that Shared Ownership homes are hard to sell, but the process is actually well-structured and supported.
Here’s what it typically involves:
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Inform Southern Housing of your intention to sell
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Arrange a RICS-accredited valuation to determine your home's market value
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An 8-week nomination period begins, where the provider markets your home to eligible buyers
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The property is listed on platforms such as SHO Sales and Share to Buy
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If no buyer is found during the nomination period, you can usually sell on the open market
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All buyers must still meet Shared Ownership eligibility criteria
Southern Housing has a strong resale success rate, with around 80% of resales completed within the nomination period. Episdoe Staircase & Selling – Can I Ever Own 100%? guides listeners through the entire process, sharing practical tips on how to prepare and what to expect along the way.
Staircasing: Growing Your Ownership Over Time
Staircasing allows you to increase the share you own in your property, eventually up to 100% if you choose. It’s a powerful benefit of the scheme that many buyers use as their circumstances improve.
Key points from the podcast include:
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You can staircase in increments based on your affordability, depending on your lease terms
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75% of Shared Ownership owners who staircased last year reached full ownership
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As your share increases, your rent decreases proportionally
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You gain equity based on your ownership share
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You can also transfer equity, for example if you're adding a partner to your ownership
Guest Laura Rose, Head of Sales Services at Southern Housing New Homes offers expert guidance on when and how to staircase, including the financial and legal steps involved in the episode Staircase & Selling – Can I Ever Own 100%?.
Learn More with the Shared Ownership Unpacked Podcast
This podcast was created to challenge misinformation and make the process easier to understand. It tackles real questions and concerns from buyers, explains how the scheme works in practice, and offers guidance from people who understand it inside out.
Whether you're unsure about service charges, planning to staircase, or thinking about reselling your Shared Ownership home, the Shared Ownership Unpacked Podcast is a valuable resource.
Tune in to the Shared Ownership Unpacked Podcast and explore homes from Southern Housing New Homes.