12 Step Guide to Shared Ownership

This 12 step process shows what to expect when buying a Shared Ownership home with Peabody.

Step 1 Check eligibility

You'll find the eligibility requirements for each scheme on the development description on this website. You’ll also be prompted to verify that you fit the criteria before you submit your Shared Ownership form when booking a viewing.

Step 2 Find a home

Select Shared Ownership on the home page, then View Developments. Those which have Shared Ownership properties available will appear on this results page.

Step 3 Register your interest

If viewings aren't yet available for the development you can still register your interest and we'll send you an email when the homes are due to launch.

Step 4 Book a viewing (or wait for us to get in touch)

Book an appointment to visit your chosen development by clicking on “Arrange a Viewing” on the left hand side (this won’t be present if the marketing suite isn’t ready). You'll be asked to verify that you fit the eligibility criteria before you go on to fill out the Shared Ownership form, and at the end before you submit.

Step 5 View the show home and chat to our financial advisor

On the day of your viewing, a financial advisor will chat with you about your household income and savings to make sure you’ll be able to keep up with your monthly repayments.  

Our show home will often be decorated to the same specification as the finished product (we'll advise you when it's not) and reservation forms will be available on site for you to reserve whichever home you wish.

There will be a £500 reservation fee payable on the day, which we'll refund to you if a home isn't allocated to you or when the sale has completed. It won't be refunded if you pull out of the purchase.

Step 6 Allocation

If we receive more reservations than there are homes available, we’ll allocate properties to people based on criteria such as whether they’re currently in a council or housing association rented home, on a council waiting list or are a member of the armed forces.

Our aim will be to give the property to those most in need of a Shared Ownership home.

Step 7 Financial assessment after allocation

If you've been successful, we will arrange a more involved appointment for you with a financial advisor. It will take place within 5 working days of being offered a property and you'll need to bring the following documentation:

  • Credit report
  • ID
  • Proof of address for each of the last 3 years
  • Proof of income (a payslip or P60)
  • Proof of additional income
  • Last 3 months’ bank statements
  • Proof of deposit
  • Proof of gifted deposit
  • Proof of rent for Council or Housing Association tenants (6 months rent statements)
  • Landlords details (name, address and telephone number)
  • Proof of rent for council or housing association tenants
  • Mortgage statement (your latest annual statement)

Download our list of Independent Financial Advisors.

Step 8 Appoint a solicitor and mortgage lender

The financial advisor will have given you details of solicitors and mortgage lenders, but you'll also be able to appoint your own. We recommend you make sure your solicitor has experience of dealing with Shared Ownership.

The financial advisor will assess your eligibility and advise what your financial obligations and any costs will be.

Download our Solicitors Panel.

Step 9 Mortgage offer

If the mortgage lender finds that the valuation is satisfactory and you will be able to repay your mortgage, they will issue a mortgage offer and valuation report, which your solicitor will send to us.

Step 10 The conveyance process begins

The legal process of transferring ownership of the property to you involves your solicitor checking all the legal documents. They will also check to make sure there are no planning applications that will adversely affect the value of your property.

Your solicitor will work on your behalf and on behalf of your lender, carrying out searches and dealing with documentation and contracts.

Step 11 Exchange of contracts

Your solicitor and Peabody’s solicitor will exchange contracts. At this stage you are legally bound to buy the home and Peabody will give you a “completion on notice” or “completion date”.

The completion date is the day on which you can move into your new home.

A completion on notice date is given if your home is still under construction and it’s not possible to give a fixed date at that time.  

Once we are in a position to give a fixed completion date we will then serve notice, giving you 10 working days in which to complete. 

Step 12 Completion

Completion happens when your mortgage provider transfers the purchase money to your solicitor, who in turn transfers it to Peabody.

Once the purchase is complete, you become the owner of your new Peabody home.


On the day, we’ll meet you at your home and give you the keys, a welcome pack and appliance instructions so that you can move straight in.

Bonus -new -home -aftersales

Bonus step: After sales

As soon as you’re in possession of your keys, our New Homes team take over and will provide all of the support and information you’ll need as a new Peabody home owner.

You can contact them at newhomes@peabody.org.uk or ring Peabody Direct on 0800 022 4040.

Contact us

If you have any questions, have a look through our FAQs or contact our sales team by calling 020 7021 4842 or emailing enquiries@peabodysales.co.uk.