Turns out the buyers of our house are buying via shared ownership... should we be concerned?

[watchingwaiting87]

Anyone know about shared ownership from a selling perspective?

We accepted an offer on our house and only afterwards has the estate agent revealed they are buying via a shared ownership company L&Q. (They are currently selling their shared ownership flat in London to first time buyers.)

Should we be worried or concerned in any way? Is it likely to cause complications/delays/extra solicitor costs?

We feel a bit put out for some reason that the estate agent kept it back from us until after the deal (or perhaps the buyer kept it from the agent). All a bit confusing...

Thanks in advance for any thoughts!

I don’t see how it effects you whatsoever, the funds to buy the house are there, just half from a shared ownership scheme rather than a mortgage

I had no idea that such things are possible. But like PP says - nothing to do with you whatsoever.

It sounds like they're just selling their shared ownership flat. It's unlikely they're buying shared ownership. L&Q are a housing association, so they earn a % or the flat and your buyers own the rest, so they'll be selling their share. The only impact on you is that it may take a big longer than normal to go through.