Stratford Halo Buyback FAQs

You are eligible if you are a leaseholder in Opal, Ruby or Sapphire Court who has been asked to vacate your flat due to the ongoing investigations into the structure. If this applies to you, the buyback scheme is being offered as an option, the process for which is explained in greater detail below. Please note that you must have vacated your flat and be in alternative accommodation in order to be eligible.

The first step is for you to notify us of your interest in taking up the buyback option. You can do this either by emailing stratfordhalobuybacks@nhg.org.uk with your address and contact details, or by calling our team using the contact details at the end of these FAQs. After an initial chat, NHG will then copy you in on our instruction to the independent valuation firm, who will contact you to make an appointment to visit your property. Following this visit they will prepare a valuation report, and this will form the basis of our buyback offer to you. The valuation will be on the basis that the building is problem-free, so the valuation of your property will not be impacted by the current situation.

Once the valuation has been issued by the valuer, NHG will prepare and issue you with a formal offer letter, based on that independent valuation. This will set out all the necessary details and next steps. If you wish to accept the offer, you must complete and return the ‘Acceptance of Voluntary Buyback Offer’ form at the back of the offer letter, after which NHG’s conveyancers will contact your conveyancers to commence the legal process. NHG will focus only on the two essential documents (Contract and Transfer), which will allow us to move quickly to completion. You are in control of the length of time the process takes (subject to the time limits – see below).

The valuation will be carried out by McDowalls, an independent third-party firm registered with the Royal Institute of Chartered Surveyors (RICS) as qualified valuers (NHG only uses RICS valuers). The valuation is called a Red Book valuation, which is the industry standard for professional valuations, based on evidence of the prices of similar properties sold within the area. A RICS Red Book valuation gives a true indication of the property’s current market value, unlike the type of valuation generally provided by estate agents to determine a marketing price. The process is open and transparent, with leaseholders copied into all emails, and welcome to be there when the valuer visits and raise any issues they wish. You are welcome to obtain your own valuation for your own peace of mind, but this would be at your own cost.

The valuation of your home will assess its market value, which will take into account any improvements you have made. This may not always reflect the cost of improvements on a pound-for-pound basis.

Yes. The buyback offer also includes reimbursement of your reasonable and proper costs in relation to your sale and onward purchase, if applicable. These are capped so as to comfortably exceed the costs that most buyers might incur. Leaseholders would be responsible for any costs in excess of this.

Yes, it is. We will let shared ownership leaseholders know the full market valuation figure for your home, as well as the value of your equity share (e.g. if you have a 50% share in your home, under the buyback offer you would receive 50% of the RICS valuation). This will be set out in your offer letter. All leaseholders are eligible for reimbursement of the same buyback expenses as above.

If you decide to go ahead and sell your home back to NHG we will require vacant possession of the property on completion. This means all your belongings will need to be removed from the property and keys handed over, as with any property sale. If you are making a related onward purchase, the completion of your sale must be on the same day as the completion on your purchase, and you would move from your flat (or alternative accommodation if still applicable) into your new home.

Yes, as you would expect, NHG cannot offer this option indefinitely. We have put in place generous time limits as detailed in the offer letter, but the main one is that the scheme is open until the earlier of:

1. The recommendation to vacate your flat is lifted; or
2. 1 June 2026

After this, the scheme will close to any leaseholders who have not made a meaningful start or material progress to their transactions.

We understand you may wish to sell your current property and purchase an onward property, in which case NHG will become your chain-free buyer. Onward purchases must be exchanged and completed at the same time as the exchange and completion of your sale to NHG.

You are responsible for looking for your next home. However, if you wished to ‘swap’ your flat with another NHG property for sale within our portfolio, please let us know and we will put you in touch with a dedicated sales team member who can discuss options with you.

We understand some leaseholders could still incur costs and losses from selling. The buyback option is intended to provide liquidity to leaseholders who would otherwise be unlikely to be able to sell during the ongoing investigations and potential remediation. We recognise individual circumstances vary and the buyback scheme may not work for everyone. You may wish to speak to an independent financial advisor about your situation.

No problem! There is absolutely no obligation or pressure to sell. The buyback scheme is intended as an option for leaseholders should they wish to use it, offered by NHG in recognition of the challenges leaseholders may face if trying to sell on the open market while the investigations and remediation work take place.