Fallen in love with a Love Living Homes Property?
How to reserve a property
We’re passionate about helping you move into your dream home. Providing a bespoke service, our friendly team will stay by your side and make it easy for you to make the move into our unique homes that are built to last.
We make the process of reserving your home simple and ask that you complete the following steps to (literally!) get your foot in the door.
Step 1
Seek financial advice & do your research.
Begin by researching Shared Ownership and the costs involved, such as rent or service charges. Assess your financial situation and determine how much you can afford to spend on a house. Remember that rent increases occur annually and these will need to be considered in your future budget planning. Consider factors such as your income, savings, and existing debts. Establish a budget, deposit and mortgage amount that would be manageable – not forgetting savings and rainy-day funds.
Always seek professional financial advice to help establish whether shared ownership is for you.
Determine your eligibility for Shared Ownership, considering factors such as income, residency status, and property ownership history. You can find Love Living Homes’ eligibility criteria here.
Before you start your application...
We highly recommend you review our share ownership responsibilities guide. Unlike renting, you are responsible for the property and our guide explains everything to do with owning a share ownership property, including limitations, permissions, and what you are responsible as an owner.
Step 2
Begin Your Property Search here.
Look at our new developments and resale and shortlist those that meet your criteria regarding location, size, amenities, and affordability.
Once the properties have been launched to market with prices listed, homes are available at a first come first serve basis for reservation – go straight to step 3!
Where are the prices?
If the properties are listed as coming soon: you can register your interest using the form on the dedicated developments page. Once the properties have been launched, then follow the steps below.
All homes are under offer or sold?
If all properties are reserved in your desired development, complete the “register your interest” form on the developments page on our website. Even if there are no properties available, our sales team will be in touch for future releases or if a property becomes available.
Step 3
Starting the Reservation Process.
Once you’ve found a property you’re interested in, contact Love Living Homes. Register your details by completing the “register your interest” form on the developments page.
When the property is available for reservation, you will be alerted via email with the prices and information on how to apply. Please note that most of our new developments will be reserved ‘off plan’.
ONLY once the properties are launched with prices....
You will be asked to complete several forms, including our Shared Ownership form. Please note that some developments have additional eligibility requirements such as a nomination agreement.
The purpose of this is to check all applicants meet the Shared Ownership schemes' eligibility criteria. For us to fully assess your application and check your eligibility for Shared Ownership, please submit your registration form to start your home-buying journey.
What is off plan?
Shared ownership properties are highly popular and are frequently reserved before they are completed. Love Living Homes properties are no exception.
We offer properties on an off-plan basis which means that you agree to reserve the property whilst it is still under construction and is based on the specification.
Rarely, but sometimes specifications do change during the build process. You will be informed by the sales team ahead of the exchange.
What is a Nomination Agreement?
Some homes may be subject to a nomination agreement which means they are offered initially to those with local connections. More information will be available when properties are released for reservation or updated before the release.
In rare circumstances, nomination agreements can come into effect after we launch. In this event, we will contact actively interested buyers initially and the wider dataset following this if properties are not reserved.
To ensure you receive our updates directly in your inbox (and not in the spam folder), kindly save
buy@lovelivinghomes.co.uk as a trusted email address.
Step 4
Complete a Financial Assessment.
You need to reach out to our nominated Mortgage Advisor - Mortgage Advice Bureau (unless this is different in the launch mailer) who will do the initial assessment on your income and outgoings to make sure you can afford the payments for your new home purchase.
Once the initial assessment is complete you are then free to complete your application using any mortgage advisor or financial advisor of your choosing. We can recommend others including The Mortgage People who are familiar with Shared Ownership.
The mortgage advisers will also let you know the share (%) of the home that you can afford to buy.
Typically, you will need to have:
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- Income evidence
- Pension contributions (if applicable)
- Number of dependants
- Personal details – D.O.B, address
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It is recommended to start gathering information as early as possible including, but not limited to:
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- Last 6 months of bank statements
- Proof of identity (passport and driving license)
- Utility bills with proof of address
- Sources of funds (savings, regular income etc.)
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Your chosen Mortgage Advisor will advise all the documentation needed to proceed with the reservation.
For resales:
If you pass the affordability, you will receive contact details for a viewing and make an appointment with the current shared owner
View the property and if you wish to proceed, email the Resales Team who will confirm next steps (if applicable)
Step 5
Viewings and reserving a property.
Viewings and reserving a property.
If you meet the financial eligibility criteria, you’ll receive an email from our sales team. Our sales team will contact you to discuss which plot you would like to reserve, confirming your eligibility to proceed and how to take the next steps. We will then hold the property for 7 days.
This gives you the time to contact your Mortgage Advisor to get a Decision in Principle for the mortgage (if required) and financial sign off to purchase the property.
Reserving the property.
If you have decided you would like to proceed with the home, we will need to have received the sign off from the Mortgage Advisor and our internal checks completed, which will include Anti Money Laundering. Only then we will invite you for the reservation meeting. We will go through full details of the property and if you are happy to proceed, we will take a reservation fee of £250.00. This will be deducted from the funds when you complete. This will then reserve your property for 42 days. Should you change your mind within 14 days we would refund this. This allows you to begin Step 6.
You will need to choose a solicitor to act on your behalf during the sale. We can assist you with this.
In rare instances, we can potentially offer a viewing. If the property is purchased “off plan” you will not be able to view the property until we have taken handover of the keys which maybe after you have exchanged contracts. This is due to various reasons including building site safety and accessibility.
Please note that if applicants are already registered homeowners, you can only proceed if your property is under offer with Memorandum of Sale issued.
If you are purchasing a resale you would need to have a confirmed viewing of the property.
What about the property’s anticipated completion date?
This date is for guidance only and could change depending on the building programme. LLH will advise when a confirmed date is given, and we will update you throughout the sales process.
Allocating Properties
The demand for our shared ownership homes far outstrips the supply, it is therefore imperative that we are clear in how we allocate and offer our shared ownership homes to prospective eligible customers.
In line with regulative guidance, we must be open in offering our shared ownership homes:
- On a first come first served basis (see policy below).
- Within our Monthly Income Surplus Policy
- Priority for members of the armed forces. Your offer will be prioritised if you’re a serving member of the armed forces or honourably discharged in the last two years (depending on your role).
Step 6
Mortgage Application
Once you’ve received your Decision in Principle and Memorandum of Sale, you can proceed to apply for a mortgage through your Mortgage Advisor. You’ll need to provide details of the property and your financial situation to the lender. You will also need to provide documentation such as those listed in step 2. The lender will assess your mortgage application and make a mortgage offer if you meet their criteria.
For Resales:
If additional shares are being purchased a Memorandum of Staircasing will be drafted and signed by you and by us.
Step 7
The Legal Process
The Legal Process
Hire a solicitor or conveyancer to handle the legal aspects of the purchase. They will review the legal documents, conduct searches, and ensure all necessary paperwork is in order. We can recommend some that we work closely with and have expertise in shared ownership properties.
Your solicitor will liaise with our legal representatives to finalise the purchase contract and arrange a completion date.
Accommodation Guidelines
It is your responsibility to ensure you have an adequate accommodation provision until we serve your 10-day notice to complete.
If you are in rented accommodation, please do not give notice to your landlord until we have confirmed that we have taken handover of your home and are in a legal position to offer a completion date for your purchase.
Any handover dates we share with you are estimates only and should not be solely relied on when planning your current accommodation needs.
Sales progression
How can I ensure the transaction progresses as quickly as possible?
Good communication really is the key from the day you are approved to buy until the day you complete. To ensure the transaction progresses smoothly, please ensure you pay the relevant fees as promptly as possible to avoid unnecessary delays. Your solicitor will ask you to review, complete and return various documents throughout the process, so please keep in regular contact with your solicitor. If you are purchasing the property via an estate agent, they should be your first point of contact for updates, and we will liaise with them as required.
Step 8
Completion
On the completion date, your solicitor will transfer the funds to us, and you’ll become the legal owner of the property.
Once a date has been set, a member of our team will meet you at your new home and do a home demonstration. We cover all important areas of your home including (but not limited to):
- Heating and how it works
- Stop Cock and Restrictor Valves
- Appliances
- Warranty
- Home User Guide
- Useful Contacts
- Lawn Care
- Location of meters
- And importantly, go through the Home User Guide (HUG)
You will be given the keys so you can begin your new homeownership journey – congratulations!
Useful items to discuss at handover
- Location of meters
- Parking areas
- Bike/bin-store & codes
- How to use heating/door entry phone systems
- Handover any documentation & warranties etc.
Remember to contact the utility companies (gas, electricity & water) as well as the local council tax office to let them know you have moved in to the property.
Our homeownership team will contact you after completion with a welcome letter containing information on how to set up your direct debit to cover rent and service charges.
Following your move, in the unlikely event you have issues in your new home, our Homes & New Build Defect team will be on hand.
Marketing Properties and updating information Disclaimer
We start to market new developments up to 6 months before we expect to release to the market. This gives us an opportunity to build up a database and ensure buyers have time to register their interest.
During this time, we are also collating all the information we require to sell the homes, such as conveyance plans, specifications, technical information, leases, and contracts and all the legal information, without which we cannot sell the homes. We will update all our marketing outlets as more information becomes available, e.g., Nomination agreements.
Some homes may be subject to a nomination agreement which means they are offered initially to those with local connections. More information will be available when properties are released for reservation or updated before the release. In rare circumstances, nomination agreements can come into effect after we launch. In this event, we will contact actively interested buyers initially and the wider dataset following this if properties are not reserved.
Build programmes can vary and change so releases are not confirmed until 12 weeks before the houses are due to be build complete. Please note that build completion dates are only estimated at the point of the release to the market. All CGIs generated ahead of launch are subject to change depending on the build programme and availability. Finishes and fittings may change, and these will be communicated with you ahead of the exchange.
In line with regulative guidance, we must be open in offering our shared ownership homes on a first come first served basis. Please see our "First Come First Serve" policy. We also operate within our Monthly Income Surplus Policy that sets out the minimum amount of money in percentage terms that an applicant should have at the end of each month following the assessment of all elements of their income and expenditure. We monitor all applications and log their interest times with the selected mortgage advisor for each development to enable us to adhere to these policies.
Register your details
Register your interest and our Sales Team will keep you updated on dates and availability.