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Shared ownership

Shared ownership schemes provide first time buyers, who are unable to afford the mortgage repayments to buy a home outright, with the opportunity to purchase a share of a new build, or other property, and to pay rent on the remaining share. This means the amount of deposit required is typically lower than buying a property outright, and rents are typically lower than market rate.  

Such schemes are usually run by Housing Associations or Registered Social Landlords.  Some developers offer similar arrangements, known as Shared Equity, although different terms and conditions apply.

Most schemes allow you to buy additional shares in the property over time, so your rent element reduces and you can eventually end up with 100% ownership.

Our specialist property solicitors have considerable experience in this filed, which helps to ensure that transactions proceed to completion as smoothly and swiftly as possible and on the best terms. This includes assessing your eligibility for shared ownership schemes and advising you on your options.

We understand the potential pitfalls to look out for in any shared ownership scheme arrangement and can advise you on the best way to protect your interests and move into your first home with the minimum stress possible.

No two cases are alike.  The circumstances in which people seek to buy a home may raise complications such as wills and tax issues.  Within the firm we have the expertise to offer advice as part of our complete service.

 

Related Services:

Buying and selling a home  Re-mortgages  Holiday homes and buy-to-let 

Transfer of equity

Chris Pease

Joint Senior Partner, Head of the Private Team and Head of Residential Property

Karen Fletcher

Senior Solicitor specialising in Residential Property

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Thank you Chris for your hard work, good advice, patience, forbearance, good humour and for your consistently prompt and helpful replies during our recent house transactions…you did a superb job, and went beyond that in providing regular counselling. Thank you so much on behalf of my family
  • Home owner, Hertfordshire
  • About: Chris Pease
The great thing about Longmores is that I know Chris and his team very well. If Chris is unavailable I know he will return my calls, and will keep me informed of what’s happening and if there is anything I can do to speed up the process
  • Estate Agent, Hertford
  • About: Chris Pease
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