Resident guidance: Homeowners - Last updated 14 October 2025

Selling your Anchor home

Nearly all Anchor leases and transfer documents allow you to sell your home on to another private individual with our approval.

A general overview of selling your Anchor home is detailed below. Once you notify us that you plan to sell your property we will send you information tailored to the type of property you own.

Who can buy your home?

With all retirement properties, you can only sell your home to someone who meets the age criteria specified within your lease/freehold transfer. Each occupier must also be capable of leading an independent life and managing their own housekeeping, which, in some cases, will be achieved through help and support from relatives, friends or support agencies.

Some leases/freehold transfers have the right to pre-emption. If you have one of these leases/freehold transfers you will need to follow the process explained. Alternatively for more information speak to your manager who will be able to advise you.

Your lease/freehold transfer will usually require the approval of the landlord, or their manager, before a sale can be completed. We will take steps to make sure that the criteria, for example, any age limit, for each location is met before giving approval.

The legal process

This process depends upon the type of lease/freehold transfer you have. Certain leases/freehold transfers have a small note at the bottom of the front page indicating what type you have. Please contact your manager or the Customer Experience Hub on 0800 731 2020 and ask to speak to our Legal Support Team if you are unclear. Again, the following information is for quick reference only, as we have more detailed information available if you need it.

Assignable leases

Once a buyer has been found and approved, you instruct your own solicitor to carry out the legal work as in any normal property sale. Your solicitor will need to contact us regarding approval of the buyer, to establish any sums we may be owed and to obtain other information to help with the sale.

Non-assignable leases

Where you have purchased your property on a non-assignable lease, only we carry out the legal work and complete the sale. Under the terms of this type of lease, the property cannot be sold direct from one owner to another. The lease must be returned and surrendered to us for us to then grant a new lease to the new owner.

We will instruct our in-house solicitors to deal with the surrender and grant of a new lease.

An owner should engage a solicitor to act for them in the sale and review relevant documents.

As soon as the proceeds of sale are received from the buyer they are passed to the owner, less any sums we are owed, by telegraphic transfer or by cheque.

Government subsidised estates

If your property is on a subsidised estate, the reduced price was achieved because the property was built with the aid of a Government grant. In order to pass on the value of this grant to the next buyer we need know its full market value. The valuation will be carried out by a RICS (Royal Institute of Chartered Surveyors) qualified valuer.

How much does a sale cost?

The usual expenses will be:

Our legal/administration fee and/or your Solicitor’s fee
Our fee for approval of the purchaser
Any unpaid service charge up to the date of completion
Any contribution to the sinking fund.

Marketing your home and finding a buyer

You may consider marketing and selling your home through a local estate agent, and you are free to contact any local estate agent of your choice.

As explained in the "Who can buy your home?" section above, buyers must meet the qualifying criteria for the specific site they are interested in.

Selling your home with Retirement Homesearch

Anchor works with Retirement Homesearch which offers an alternative option to traditional high-street estate agents for homeowners wishing to sell their properties.

Specialising in property sales for retirement homes, they have many years of experience and provide a competitive, no sale/no fee service with fixed or percentage-based agency agreements available.

Upon receiving an enquiry, a member of the Retirement Homesearch team will contact you to explain the service they provide, carry out any initial negotiations and agree the sale price. They will also send a promotional pack, which provides more information about Retirement Homesearch.

You can find out more by speaking to your local manager and on the Retirement Homesearch website.

To maximise interest, you may choose to use both Retirement Homesearch and local estate agent services simultaneously.

Selling your home with Anchor Resales

Update on Anchor Resales Service Availability – Oct 2024
We would like to inform you of an update regarding our Anchor Resales service. The availability of this service is being refined and will now be offered only at a select number of our newest developments and retirement villages. This change aims to better tailor our support to the specific needs of these communities.

You can find out more by speaking to your location manager or visit the Anchor Resales website.

Agents’ sale boards

It is usual for the terms of your lease not to allow the erection of “for sale” boards. Your manager will advise whether this is the case.

Anchor’s lease extension service

When most Anchor homeownership properties were originally bought they will have had a 99-year term lease. As a lease gets shorter, the value of the lease decreases, which can make it difficult if you choose to sell your property. In most cases mortgage lenders don’t like to lend on properties with less than 70 years remaining.

You have a legal right to extend your lease - and to help residents who own flats, we have designed our own voluntary service which is less complex and quicker than the “statutory” procedure.

Our lease extension service allows you to purchase an extra 990 years on top of your remaining lease term. This will see you pay a one-off fee, plus solicitor’s costs, to extend the lease. It will take around eight weeks to complete. The only requirement is that the person applying for the extension is the ‘named’ leaseholder of the property.

For those who own a house or bungalow, you may want to consider buying the freehold to your property. This means you swap your lease for a freehold transfer, which is granted on the same terms, but doesn’t have depreciating years as you have in a lease.

Subletting

It is usually a condition of your lease (or other legal document) that you will not sublet your property. We may in extreme circumstances consider requests from residents to sublet.

You can find more information about subletting here.