Trusted Shared Ownership Solicitors

It’s a popular option to purchase a share in a property, particularly if you are unable to raise the finance required for the full purchase price. You would own a percentage of the house with the original developer or a housing association retaining the remaining share and you would pay rent on the part that they have kept.

We will make sure that the documents, which are more complex than normal purchase documents are correctly prepared to cover your share of the ownership and the part you are renting, and that you have the option to purchase the remaining in the future.

To get the support you need, call 0151 236 8871 or book a call with our legal experts.

What is shared ownership?

Shared ownership is when a person buys a share in a property (e.g. 50%) and then pays rent on the remaining 50% to a local authority or housing association.

How does shared ownership work?

This allows people to get on the property ladder as they are more able to afford the mortgage on a smaller purchase price. In time they can “staircase” to buy additional shares of a minimum 10% at a time.

How to apply for shared ownership?

See the process and how you can apply for shared ownership via the Government website here: https://www.gov.uk/shared-ownership-scheme/apply.

How to sell shared ownership?

Selling shared ownership depends on the exact scheme and the terms of the lease. We would suggest that you contact your Landlord in the first instance who can advise you of any specific requirements before you put the property on the market.

Who is eligible for shared ownership?

The Government sets out a certain criteria as a whole and there are also some schemes that are specific to key workers. View the eligibility criteria on the Government website here: https://www.gov.uk/shared-ownership-scheme/who-can-apply.