Solicitor Shared ownership

Shared ownership in the UK is a property scheme that allows eligible buyers to purchase a percentage of a home—typically between 25% and 75% of its market value—while paying rent on the remaining share owned by a housing association or developer. This arrangement can help you get onto the property ladder with a smaller deposit and lower mortgage requirements, and it often provides the opportunity to buy additional shares over time through a process known as staircasing.

Sidra SIDDIQUI

Guildford GU1 4AW

Shared ownership Solicitors Guildford

9 years of experience

Does not accept legal aid

Sidra Siddiqui is a dedicated solicitor based in Guildford, specializing in Conveyancing and property law. With 9 years of experience, Sidra represents a wide range of clients, including private individuals, companies, lenders, and developers, in both residential and...

What does shared ownership involve?

Partial ownership: Buying a share of the property’s market value (usually between 25% and 75%), while the remaining share is retained by a housing association or private developer.
Eligibility criteria: Designed for first-time buyers or those with limited incomes, with eligibility determined by income thresholds and local authority guidelines.
Staircasing options: The ability to purchase additional shares in the property over time until you achieve full ownership, subject to market conditions and your financial circumstances.
Leasehold arrangements: Most shared ownership properties are held on a leasehold basis, meaning you own your share for a fixed period under specific lease terms.
Financial considerations: Involves a combination of mortgage finance for the purchased share and regular rent payments on the portion you do not own.

How can a solicitor help with shared ownership, and what does it cost?

A conveyancing solicitor experienced in shared ownership can:

Advise on scheme details: Explaining the terms of the shared ownership arrangement, including rent, mortgage options, and staircasing opportunities.
Review and draft legal documents: Handling lease agreements, transfer deeds, and other necessary paperwork to ensure your rights and obligations are clearly defined.
Conduct due diligence: Performing title searches and checks for restrictive covenants, planning permissions, or any other issues that might affect the property’s value or your future ownership.
Coordinate with lenders and housing providers: Liaising with mortgage lenders, housing associations, and other parties to ensure a smooth transaction and timely completion.

Costs for shared ownership conveyancing typically include solicitor’s fees, disbursements (such as Land Registry and search fees), and any applicable VAT. Many firms offer fixed-fee packages for straightforward cases, often ranging from £750 to £1,500 plus VAT and disbursements. An initial consultation—which is frequently free or offered at a reduced rate—can help you assess your situation, estimate the overall expenses, and determine the best approach to secure your shared ownership property.

5 Solicitors Conveyancing (Area of expertise might be Shared ownership)

We recommend contacting one of the solicitors listed below, as their area of practice is relevant to your enquiry.

Liz Garratt

Derbyshire DE55 7DD

Shared ownership Solicitors Derbyshire

18 years of experience

Does not accept legal aid

With 18 years of experience, Liz Garratt is a highly skilled Private Client Solicitor specializing in Conveyancing, Wills, Trusts, and Estates. Having been in the legal profession since 2007, Liz offers a compassionate and client-focused approach to legal...

Carol Bedford

Dorset BH21 5HT

Shared ownership Solicitors Dorset

19 years of experience

Does not accept legal aid

Carol Bedford is a solicitor based in Dorset with 19 years of experience in conveyancing and property law. She provides expert legal services tailored to her clients' needs, with a particular focus on older client conveyancing. In Residential...

Raj Nair

Preston PR4 0LW

Shared ownership Solicitors Preston

26 years of experience

Does not accept legal aid

Raj Nair, a lawyer based in Preston, is a long-established professional with over 26 years of experience in leading areas of law. Fluent in English, Hindi, and Punjabi, Raj offers comprehensive legal services in various fields, including: Family...

Syd Brown

Belfast BT1 3GN

Shared ownership Solicitors Belfast

28 years of experience

Does not accept legal aid

Syd Brown is an experienced lawyer based in Belfast, renowned for his expertise in property law, wills, trusts, estate matters, and dispute resolution. With 28 years of legal practice, he has developed a solid reputation for delivering high-quality...

Shah Ali

London E1 2LX

Shared ownership Solicitors London

13 years of experience

Does not accept legal aid

Shah Ali is a highly accomplished solicitor based in London, with 13 years of experience in family law, immigration, intellectual property, bankruptcy, conveyancing, and wills, trusts, and estates. As the founding Senior Partner of Waterstone Solicitors, he has...