Shared Ownership Resale- Is it all as frustrating as this?

[MotherOfRatios]

So I viewed a property about two weeks ago, loved it put an offer in started the process of collecting bank statements and all that stuff together for the housing association to be approved. I had an email this morning telling me they had accepted another offer for 100% ownership and I should stop the process.

It just seems so frustrating that the woman told me once I put an offer in then you progress as if you are going to go through to the end? I've had endless calls across last week that have now really wasted my time.

In all fairness, when I originally did ring the housing association, she told me the guy had not followed the correct process, but once it had gone to her, I would have thought she would have taken steps to make sure that no one's time was wasted.

also, it just defeats the object of shared ownership if someone can just go and buy outright the property? Is all resale shared ownership like this and I just better to look for a brand-new S/O?

I'm in London btw

That’s very unfortunate and I’d also be frustrated. There is a limited window when it has to be offered as a shared ownership but then it can become a 100% sale. Who knows what your vendor did but it sounds like the housing association ultimately decided it was past the period where it has to remain SO. I agree this is very short sighted.

I have a lot of friends who have gone through SO, and been there myself, so I wouldn’t see this as normal for resales. The big advantage of a resale is it’s cheaper than a new build.

i viewed the property 3 days after it was listed so definitely not outside the window.