Buying a

Learn about the process of buying one of our pre-owned resale homes

The process of buying a resale home is a little different to that of buying a new build home.

This 3 minute video explains the process of buying a resale home:

Step 1 - Find a home

Use our property search to find a SO Resi home. When you’ve found a home you like, use the “Arrange a viewing” or “Enquire now” buttons to register your interest and arrange a viewing.

Find a home

Step 2 - View the home

We’ll arrange for you to view the home you're interested in. This may be with the owner, or a third-party.

Step 3 - Affordability assessment

You will need to speak to a financial advisor who’ll help you understand what you can afford. We recommend you have a brief chat with them before your viewing. If you’re interested in buying a home, you'll then need to have a more detailed meeting with them for a full affordability assessment, and to complete some compliance checks.

Our recommended financial advisors

Step 4 - Complete our application form

If you see a home you think you'd like to buy, let us know by filling in our viewing feedback form. A SO Resi resales consultant will get in touch to talk things through.

You will need to fill out our application form and complete your financial assessment with a financial advisor.

More about how to apply

Step 5 - Offer letter

We assess all applications based on eligibility, needs, finances and so on.

If your application is successful, you will receive a conditional offer and then a final offer letter. Sign and complete the necessary assessment checks as soon as possible upon receipt of these letters to avoid losing out on the property.

If you are not successful, we will help you find a similar suitable property.

Step 6 - Appoint a solicitor

You now need to appoint a solicitor to handle the purchase. This may be one we recommend, or one you know, but ideally they should have Shared Ownership experience. The seller also has a solicitor, and so does the landlord of the home you’re buying.

Our recommended solicitors

Step 7 - Progression

Progression refers to the numerous legal steps that must be taken between the acceptance of your offer and the sale being completed.  There will be three solicitors involved in this process – yours, the seller’s and the landlord’s.

Your Resales Consultant will be in regular contact with you through this process.

You will also need to work with your financial adviser to get everything in place for your mortgage. They’ll explain the different mortgage costs too. These could include upfront mortgage fees, as well as the adviser’s own fees of around £250. SO Resi will need a ’decision in principle’ from a lender before going ahead.

Step 8 - Exchange and completion

Once your mortgage has been approved and everyone is happy that all enquiries have been answered, contracts are exchanged. You pay your non-refundable deposit and are legally committed to buying your new home.

The solicitors work with you and the seller to set a completion date that suits you both. And you make sure your mortgage funds are ready.

On completion day, the money is transferred. Then, your solicitor tells you where to pick up your keys. And finally you move into your new home, unpack and start settling in. You are now a homeowner!

After you move in

You will receive a welcome pack to help you set up your direct debits, etc.

As a MTVH resident, you will be able to use MTVH Online, our customer portal, to pay your service charge and rent. You’ll also be able to report any problems and contact our customer service team when necessary.

Register for an MTVH Online account

More information

If you prefer, our PDF guide explains the process of buying a resale property.

Your homebuying journey (PDF)

Your resales homebuying journey brochure