Shared ownership properties
Buying a property you will own with others
Shared ownership can be a good way of taking that first step onto the property ladder and can help you move into a home that you might not have been able to afford on your own.
There are a number of government-backed schemes for shared ownership, which are a cross between buying and renting as you own a share and then rent the part you do not own. You also have the option to buy more shares in the property at a later date as your income increases.
Another option is shared equity, where you own all of the property from the start but have to repay a proportion of its value when you sell it – equivalent to the proportion of government equity you took to buy it. A good example of this is the government ‘Help to Buy’ scheme.
Alternatively, you may decide to pool resources with a partner, friends, or family members.
All of these situations require careful attention and you need to understand the implications if you, or any of your co-owners, wish to move out in the future.
Our experienced property law team can help you understand the issues, and we will guide you through the process.
We have strong working relationships with the local estate agents in East Sussex and will help you to acquire your new home as quickly and smoothly as possible.
We are also an accredited member of the Law Society’s Conveyancing Quality Scheme (CQS), which provides a recognised quality standard for residential conveyancing departments.
For information on legal costs
For information regarding our charges for residential property work please click here.