Shared Ownership
OVERVIEW
If buying a property outright isn’t an option, Shared ownership is an alternative way to get yourself onto the property ladder.
It allows you to purchase a share of a home while paying rent on the rest.
Most shared ownership properties are leasehold and often newly built, making this a popular option for those who may not be able to buy outright.
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Thinking about shared ownership? Get in touch with our conveyancing team today.
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Full Detail
How it works
- You buy a percentage of the property (typically between 25% and 75%)
- You pay rent on the remaining share
- You may be able to increase your share over time (known as “staircasing”)
Benefits of shared ownership
- A more accessible route onto the property ladder
- Lower deposit compared to buying outright
- Greater stability than private renting
Why legal advice matters
Shared ownership can be more complex than a standard purchase, particularly due to lease terms, rent arrangements, and restrictions on the property. It’s important to fully understand your obligations before proceeding.
Things to consider
- Not all lenders offer shared ownership mortgages (although many do)
- You’ll usually be responsible for maintenance and repairs
- The property is leasehold, so there may be restrictions
- There may be limits on certain alterations or improvements
How we can help
Our conveyancing team has experience handling shared ownership transactions and will guide you through the process from start to finish.
We’ll:
- Review the lease and key terms
- Explain your rights and responsibilities
- Liaise with the housing provider and lender
- Ensure everything is completed correctly
Get in Touch
Thinking about shared ownership? Get in touch with our conveyancing team today.
New website enquiry
