Selling and remortgaging

Remortgaging, staircasing or selling your home if you live in a flat in one of our buildings

Building Safety Act information

If you own a property in a block of flats, due to changes in guidance and legislation, you might be finding it difficult to sell, staircase (buy an extra share in the home) and in some cases remortgage your property. If the property is in a building that is 5 stories or 11 meters in height, as part of your sale, remortgage or staircasing process the Building Safety Act means you will need to provide your landlord with a Leaseholder Deed of Certificate, and in response your landlord will need to issue you with a Landlords Certificate.

You will need to provide these to your acting solicitors and mortgage lender otherwise the transaction will not be able to progress. If you have any queries regarding this, or aren’t sure if this applies to you, please contact us at [email protected].

Further information on the certificates can be found here - Mandatory information required from leaseholders and building owners - GOV.UK.

Please read our EWS1 advice around building safety before you start any of these processes. We would not want you to incur any unnecessary costs.

FAQs

  • Requesting a sales or management pack

    If you're selling or remortgaging 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 £300 (including VAT) for a leasehold or shared ownership property and £250 (inc VAT) for a freehold property. Please note all our responses are issued in 10 working days from the date payment is received. You can contact us to pay this over the phone using your credit or debit card.

    We don't accept cheques. However, you or your solicitor can make this payment via BACS. Please email us at [email protected] and we will provide BACS details.

    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

    If you require additional information, we charge a further fee depending on the number of enquiries and the work required to get the information for your response: this is as follows:

    • Up to 6 additional enquiries - £150 (inc VAT)

    You can email us for further information.

  • Shared ownership remortgage

    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. 

    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 (shared owners)

    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 £130 (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. 

    If 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 reselling process for Shared ownership homes (PDF, 2MB)

    See our full list of admin fees (PDF, 215KB) to learn more.

  • Leaseholder remortgage

    If you're a homeowner and want to apply for a remortgage, the mortgage lender may request a Remortgage Pack as part of the approval process.

    If this isn't necessary, once the mortgage has been approved, your mortgage lender will need to send the Notice of Charge to the Homeownership Team for signing.

    Our administration fee for signing the notice is £100.00 (inc VAT).

  • Homeowner transfer of equity

    If you're a homeowner and want to add or remove a joint owner, your legal representative will need to email us at [email protected] to confirm the change.

    Usually, a Management Pack is not required. You can email us for further information.