Introducing Second Steps
Second Steps is an initiative whereby existing Shared Ownership residents can purchase their next home (or “Second Step”) on a Shared Ownership basis.
Available to residents from Southern Housing Group and other Housing Associations, Second Steps gives Shared Owners freedom to find a suitable new home on the open market – homes that may otherwise be unavailable to purchase due to financial constraints.
Second Steps is particularly useful for existing shared owners that need to move due to work commitments, or need another bedroom due to a growing family, for example.
How it works:
1. You must currently live and buy in London
2. You make an application to find out what you can afford
3. We find a buyer for your current home
4. You find a new home on the open market
5. Southern Housing Group will buy the home you want
6. You purchase a share between 25-75% from the Group and rent is payable at a discounted rate on the share you don’t own – just like a Shared Ownership purchase.
The Second Steps initiative also provides reassurance to potential Shared Ownership buyers, who haven’t yet purchased a home, but expect they will need to move from their Shared Ownership home in the future.
Second Steps purchases are restricted to properties valued at less than £600,000. The new home must also have two or more bedrooms and must be a freehold property. More details of the Second Steps Terms and Conditions can be found on our website.
Want to know more about our Homeowner Services?
Visit the Southern Home Ownership Hub, you’ll find information on extending your lease, increasing the share in your home, selling your property and more. Plus, our dedicated Sales Services Team are also on hand to provide assistance and answer any questions you may have.
Call: 0300 55 2171