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Tuesday 16 October 2018

We are aware there is a water issue at Laker court in Stockwell. We currently have specialist contractors on route to tackle the issues this evening. We apologise for the inconvenience caused. We will update residents as soon as possible. Thank you for your patience.

Please remember you can raise any non-emergency enquiry via our online contact us forms.

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Selling and re-mortgaging your home

Requesting a sales or management pack

If you are selling or re-mortgaging your property, your acting solicitors will request a sales or management pack (also known as a pre-assignment pack). Due to the Data Protection Act, we can only supply this pack to you or your appointed legal representative.

The fee for our standard pack issued to solicitors electronically is £330 (including VAT) for a leasehold or shared ownership property and £190 (inc VAT) for a freehold property.  If your solicitor would like this issued in hard copy format our standard fees are £400 (inc VAT) for a leasehold or shared ownership property and £250 (including VAT) for a freehold property.  Please note all our responses are issued in 10 working days from the date payment is received.  You can pay this over the phone using your credit or debit card.

Should you require an earlier response, the Home Ownership Team offer a Fast Track Service to complete in five working days for £500 (including VAT).  Please note fast track payments can only be taken over the phone and all responses are issued electronically.

Our standard pack contains key information including:

  • The current balance of the service charge account
  • The last three years actual expenditure and estimated costs
  • Details of any planned major or cyclical works to be carried out in the next two years
  • Details of the Buildings Insurance
  • Details of any asbestos or fire risk assessment carried out (if applicable)
  • Registration information
  • Details of any alterations or breaches of the lease

Should you require additional information, we charge a further fee of £165 (including VAT) for electronic responses and £220 (including VAT) for responses by post.

Shared Ownership re-mortgage

At some stage, you may wish to review your finances and make changes to your mortgage. Because of our financial interest in your home, Hyde must consent to any changes to your mortgage or lender. 

How much can you borrow against your home?

You can borrow up to 75% of the value of the share you own in your home.

For example: If your home is valued at £200,000 and you own a 50% share (£100,000), you can borrow up to 75% of the £100,000, this amounts to £75,000 in total, including your existing mortgage and any other loans you may have secured against your home.

What you need to send us 

In order for us to assess your re-mortgage, please send us the following:

  • Mortgage offer from your proposed new lender (for interest-only mortgages we also require evidence of a repayment vehicle)
  • Confirmation of the current value of the property from the lender
  • Confirmation from the current lender confirming the outstanding balance (redemption statement)
  • Confirmation of the percentage of equity you own in the property
  • Confirmation that there is no additional borrowing
  • Payment of our administration fee of £100.00 (Inclusive of VAT) You can pay this over the phone using your credit or debit card

Shared Ownership transfer of equity

During the course of your shared ownership lease you may wish to transfer or assign the ownership of the property to increase or reduce the number of registered owners.

To facilitate this, your solicitors will be required to contact us for confirmation on what is required under the terms of the lease and our administration fee payments. 

Should you wish to become the sole owner of the property we also require confirmation from your lender that you pass the affordability checks.

Your guide to: The selling process for Shared Ownership resales (PDF, 667KB)