Shared Ownership

Shared ownership properties are part-owned by a buyer who then pays rent on the remaining share to a housing association or registered social landlord. Shared ownership properties provide a more accessible route onto the property ladder. There are a variety of schemes which are available to specific groups, these include first-time buyers, people with long-term disabilities, older people, and people in the armed forces.

Why should you consider Shared Ownership?

Shared ownership is a fantastic option for those who want to own their own home but may not be able to afford to buy on the open market. With shared ownership, you purchase a share of the property (usually between 25% and 75%) and pay rent on the remaining share. This means you'll need a smaller deposit and a smaller mortgage, making it a more affordable option for many.

How does it work?

You buy a share: You purchase a share of the property using a mortgage or savings. The share you buy is usually between 25% and 75% of the property's value.

You pay rent: You pay rent on the remaining share of the property that you don't own. This rent is usually at a reduced rate.

Staircasing: Over time, there is usually the opportunity for tenants to purchase additional shares to increase their ownership. This is known as staircasing and can be a great way to gradually increase your ownership until you own the property entirely.

Why choose FDR Law for your Shared Ownership needs?

Shared Ownership is a complex area of conveyancing and here at FDR Law, we are proud to have a number of specialist lawyers within this field that are on hand to answer your questions and talk you through the process.

So, whether you are buying, selling, refinancing, or staircasing, at FDR Law we will have the right solicitor that can help you and support your needs.

How do we support our clients?

We provide expert advice: Our knowledgeable solicitors will provide you with clear and concise advice that is tailored to your specific circumstances. We’ll guide you through the entire shared ownership process, ensuring that you fully understand the process, as well as your rights and obligations.

Buying and selling your shared ownership property: Whether you're purchasing your first shared ownership property or selling your existing one, our expert solicitors will assist you every step of the way to ensure a smooth and stress-free process.

Support with the staircasing process: If you're considering increasing your ownership through staircasing, our experienced solicitors will provide you with an efficient and professional service every step of the way.

Refinancing: If you're thinking about remortgaging your shared ownership property, our solicitors will guide you through the process, ensuring a smooth and jargon-free service.

Get in touch with us to find out more

If you're considering shared ownership or would like to discuss your specific circumstances with one of our expert solicitors, please don't hesitate to get in touch. We're here to help you navigate the process smoothly and efficiently. Contact us today to schedule a consultation.