What you need to do if you want to sell your home
How you go about selling your Peabody home will depend on how you bought it. That could have been through the shared ownership or home equity scheme, right-to-buy, right-to acquire or voluntary purchase grant.
Here we outline the various options and what process you need to follow.
Shared ownership and home equity leaseholders
‘If you own a share of your property, under the terms of your lease we have up to eight weeks to find a buyer.
We do this so we can help other first-time buyers onto the property ladder and we are able to offer you an expert sales service at a competitive rate.
The first step to sell your Shared Ownership home is to complete our enquiry form. Once submitted, you will receive an email with a Resale Enquiry Pack, which will detail the next steps you will need to complete.
Find out more about selling your Shared Ownership home on the Peabody New Homes site.
Right-to-buy, right-to-acquire and voluntary purchase grant leaseholders
When you buy under one of these schemes you receive a discount on the purchase price. If you sell within three years of the date you bought your home, you’re obliged by law to pay back all or part of the discount - all of it if you sell in the first year, one third in the second year, and one third if you sell within three years.
If you sell after three years, you don’t have to pay back any discount. If there’s a delay in selling your home, tell us as soon as possible and we’ll adjust the amount you need to repay accordingly. The "For sale" or "To let" signs can only be displayed with our permission.
Your solicitor will need information from us before the sale. It will take some time to collect this, so you should ask your solicitor to write as early as possible.
Management information pack
We can provide a management information pack to assist with your sale. (Please note we do charge for this.)
The pack will include the following:
- statements of your accounts
- major works planned to your block/estate
- details of any invoices due to be billed
- asbestos/fire risk reports
- any other information relevant to your estate
If you need more information, contact our Customer Service Team
Selling your home in a block of flats
Some residents and buyers may have trouble securing mortgages for homes that are in blocks of flats due to changes in building safety advice following the Grenfell tower tragedy. You can find out more information on our EWS1 forms – valuing high-rise properties page.
We also recommend you seek advice directly from your lender or mortgage broker so you don’t incur any unnecessary valuation or solicitor’s costs.