Shared Ownership Resales: Do I Have to Sell My Property Via Aster?

If you’re thinking about selling your shared ownership home, we’re here to help you understand what to expect and what you need to do next.

The way shared ownership resales are handled has changed. Aster has waived nomination rights, which means you can now sell your home on the open market through an estate agent of your choice. As a result, Aster no longer markets resale shared ownership homes.

We’ll still be involved at key points to make sure the sale meets your lease requirements and, where a share is being sold, that buyers are eligible for shared ownership.

You can read more about our Resales Policy here.

At a glance – what's changed and how does it work?

• Nomination rights are waived.
• You sell your shared ownership home through an estate agent.
• No RICS valuation is required.
• You can market your share, 100%, or both (subject to your lease terms)
• Aster carries out shared ownership checks only if a share is being sold.
• Aster’s completion administration fee is £480.

 

Selling a shared ownership property - how it works

Step 1 – Let us know you intend to sell.

Before you market your home, you must tell us you’re planning to sell.

We’ll:

• Confirm what your lease allows you to sell.
• Explain how the resale process works now nomination rights are waived.
• Tell you what information we’ll need from you and your estate agent.
• If your lease has less than 90 years remaining, please contact us first, as additional considerations may apply.

Step 2 – Instruct an estate agent.

• You’ll need to appoint an estate agent of your choice.
• You and your agent will agree the 100% market value.
• Any valuation or marketing costs are your responsibility.
• A RICS valuation is not required.

Depending on your lease, you can:

• Market your share
• Market the 100% share
• Or market both at the same time

Step 3 – Keep Aster updated.

Once your property is live on the market, you must provide us with:

• Your estate agent’s contact details
• The advertised sale price

Providing this information promptly helps us issue the correct landlord information and supporting documentation and avoids delays or complications later in the sale.

Step 4 – When a buyer is found.

If the buyer is purchasing a share.

Your estate agent must provide us with:

• The buyer’s name and email address

We’ll then issue:

• A Shared Ownership application form
• An affordability assessment (via our broker, TMP, or the buyer’s own broker)

Buyer eligibility is confirmed once all required documents are received and approved.

If the buyer successfully completes the sign‑off process:

• A £250 reservation fee will be payable to Aster.
• We’ll issue the Memorandum of Sale

If the buyer is purchasing the 100% share

• We only require the Memorandum of Sale from the estate agent.
• No affordability or eligibility checks are needed.
• We’ll instruct solicitors for both the sale and staircasing elements.

This type of transaction is known as a back‑to‑back sale and staircasing, where the seller staircases to 100% using the buyer’s funds at the point of completion. Your legal fees may be slightly higher in this scenario – but your solicitor will be able to advise you on costs.

Step 5 – Fees

On completion of the sale (share or 100% share):

• Aster’s administration fee is £480. This applies instead of any resale fee stated in your lease.
• Estate agent fees are agreed directly between you and your agent.

Step 6 – Legal completion and moving out.

Once the sale has been instructed:

• The sale progresses in the usual way through solicitors.
• Your estate agent is responsible for coordinating the transaction and updates.

On completion, you must:

• Vacate the property by the agreed completion date.
• Leave it in a suitable condition for handover to the new owner.

The value of the property could increase or decrease based on housing market conditions, so you may find your home is valued at more or less than the original price you first paid for it. Any significant improvements you’ve made to your home will be included in the full market value. 

For further information, have a look at our guide around shared ownership resales. 

For more information about shared ownership, read our helpful resources to find out what is shared ownership and how does shared ownership work.

Who are Aster?

At Aster, we're proud to offer beautiful new shared-ownership homes across the South of England and London. Our homes are perfect for those looking to make a great start on the property ladder and take advantage of all that this incredible area has to offer. 

Our aim at Aster is to find you a home, not just a house – and with our fab shared ownership approach, you can find a home in a lovely location that may otherwise be out of your reach, just get in touch!

Finding Your Dream Home

Finding your dream shared ownership home is as simple as giving us a call and letting us walk you through the steps you need to take. With this guide and guidance from the team at Aster, we can try and make the process as simple as possible.

At Aster, we’re committed to making the process as smooth and stress-free as possible. We feature a range of shared ownership properties, each with its own unique characteristics and features. Our knowledgeable and friendly sales team are always on hand to provide expert advice and guidance, helping you to find your perfect shared ownership home. 

Whether you’re a first-time buyer or a seasoned homeowner, we’re here to help you every step of the way.

Find out more about shared ownership below

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