Post Sales Advice
Selling your home
As an owner you can sell your home as soon as your lease allows it, depending which scheme you bought under will determine the sales procedure - there are different arrangements for key workers and those customers who bought on a shared equity basis. You will require a valuation to assess the current market value before you can sell which must be carried out by a RICS (Royal Institute of Chartered Surveyors) qualified Surveyor. You can arrange this through Sentinel or organise one yourself.
Information for Shared Owners
If you wish to sell your home, you must notify us by letter. The lease usually gives us the right to try and find a buyer for your share. In this way someone else can benefit from a Shared Ownership home. Your lease sets out the length of time we have to find you a buyer, known as the ‘nomination’ period. Most of our shared ownership leases allow us up to eight weeks to find a buyer.
Information for ‘Shared Equity’ Owners
Under the Shared Equity purchase scheme you can sell you home on the open market. Your credit agreement states that you must obtain a RICS valuation to agree the selling price of your home.
Information for ‘Key Worker Living’ Shared Owners
If you wish to sell your home, you must notify us by letter. The lease usually gives us the right to try and find another key worker buyer for your share. In this way someone else can benefit from a Key Worker Shared Ownership home. Your lease sets out the length of time we have to find a buyer, known as the ‘nomination’ period. Most of our shared ownership leases allow us up to eight weeks to find a buyer.
Information for Starter Home Initiative Owners
If you are intending to offer the property for sale, we suggest you obtain quotes from three local estate agents. This is usually a free service and will give you and us an idea of how much we can expect to receive if you sell your home. We will endeavour to agree a market valuation based on the estate agent’s price guide, failing this we reserve the right to request a RICS valuation. We will require formal notification from you that you wish to sell your property and copies of 3 estate agent’s valuations before the sale can proceed.
Re-mortgage and additional borrowing
You can re-mortgage your home at any time providing you obtain our permission, please notify Sentinel in writing if you are considering a re-mortgage. On receipt of this we will instruct our solicitor to safeguard our share in the property and to ensure that the new charge is property registered. You will be charged a fee for our solicitors time – at the time of going to print this is £135.
Change from Joint to Sole Owner
If your circumstances change and you wish to change your property ownership from Joint to Sole names you will need to complete the reply form and return this with a copy of your mortgage offer and a cheque for the legal fees for our solicitors to handle to changes.
Your mortgage lender will need evidence from you that you can sustain the mortgage on your sole income and may charge you a fee to make this change.
Consents and permissions
Residents must apply to keep cats or dogs at the property. It is not necessary for residents to have permission to keep fish and caged pets such as birds, rabbits, domestic rodents, reptiles, amphibians or invertebrate. However, if these animals cause a nuisance to others or damage property, Sentinel will withhold permission for the animals and will require that they are removed from the property.
You must complete a pet consent request if you wish to keep a pet at your property.
If you wish to erect a satellite dish at your property there are certain conditions that must be adhered to
CONDITIONS FOR SATELLITE DISHES - DWELLING
1. Permission should first be sought from the Planning Department at your local council with regard to the erection of the satellite dish. Further details on planning are available from the government website: http://www.planningportal.gov.uk/permission/commonprojects
2. The satellite dish is to be erected to a professional standard and to the satisfaction of the Association and with no damage to the Association’s property.
3. The satellite dish should not be erected above the roof-line and should not exceed 70 cm in diameter, and should be positioned to the rear of property.
4. Installation is carried out by a properly qualified tradesperson
5. The satellite dish should be removed and all necessary reinstatements carried out at your own expense, should the Association require this at any one time.
6. The Association also reserves the right to remove any satellite dish erected on its property without the appropriate permissions.
Please contact Sentinel for written permission regarding the erection of a satellite dish.