Navigating through the shared ownership conveyancing process can be a challenging prospect without the right legal advice. Our solicitors have the know-how and expertise to deliver a swift and satisfactory result.

Shared Ownership Property

Our Shared Ownership Services

The Thursfields team is dedicated to provide specialist support throughout the entire shared ownership journey. We can help you with:

  • Purchasing a shared ownership property
  • Selling a shared ownership property
  • Increasing shares in your shared ownership property
  • Advising on scheme rules
  • Liaising with all stakeholders
  • Drafting of legal documents
  • Advising on the shared ownership lease
  • Guiding you through the shared ownership process

Whatever you’re looking to achieve you can be completely confident in the expertise of our shared ownership solicitors.

Want to Know More About Our Shared Ownership Conveyancing Services?

Comprehensive Shared Ownership Advice

While shared ownership can be an important way to help individuals get onto the property ladder, it can often be a more complicated process than a straightforward purchase. Targeted legal advice is essential to ensure a straightforward resolution.

The Thursfields team has extensive experience guiding clients through a variety of different shared ownership schemes. Their skill and expertise has been crucial in identifying potential pitfalls and making the process as problem-free as possible.

As a results-driven firm, we understand the importance of completing shared ownership transactions as smoothly as possible. Our shared ownership solicitors will, first of all, ensure you fully understand the terms of the scheme, before guiding you through every stage of the process. 

The sale and purchasing of a property is one of the most significant life events you can experience, making it imperative that you speak to shared ownership conveyancing solicitors that you can rely on to get the job done. You need to speak to Thursfields.

A Bespoke Approach to

Shared Ownership

Shared ownership properties are a little different. Each will have a lease which sets out the percentage share you are purchasing, alongside various rights and covenants you and the landlord will be required to comply with. Our team will guide you through the process and answer your questions every step of the way. 

Thursfields’ shared ownership solicitors work to thoroughly understand your situation and recommend the most appropriate solution. Utilising our extensive knowledge of the industry, we can advise on whether a particular shared ownership scheme is appropriate for you, or if you should consider this particular approach in the first place. This enables you to make better informed decisions and be more confident and assured in your future plans.

We are committed to supporting our clients at every stage of the process, offering specialist guidance whenever needed. From talking you through the intricacies of available schemes to liaising with stakeholders such as mortgage advisors, we’ll take care of everything on your behalf. It’s our aim to remove all the mystery and stress out of shared ownership and deliver as swift a resolution as possible.

Holistic Conveyancing Support

No matter if you’re dealing with shared ownership schemes or taking the more traditional approach to buying and selling residential property, our team of highly-skilled solicitors have you covered. We are built around you.

Frequently Asked Questions

Shared ownership was designed to help more people get on the property ladder. It represents a middle ground between renting and purchasing a property outright, since it enables them to buy a percentage of the home (usually between 25% and 75%) and pay rent on the remaining share.

The schemes are typically run by housing associations or registered social landlords, with each having their own terms and conditions to navigate. Depending on the lease, it may be possible to increase your share of the property bit by bit via a process known as ‘staircasing’ — so you can gradually get closer to owning your home outright. Given the complexities involved, it is recommended to speak to specialist shared ownership conveyancing solicitors at your earliest opportunity.

Each housing association or social landlord will have their own eligibility criteria you will need to meet. It is therefore important to take note of each set of terms and conditions to ascertain whether a scheme is right for you. Seeking legal advice will help you make an informed decision. 

As of 2018, first-time buyers will not have to pay Stamp Duty on the first £300,000 on any home up to the value of £500,000. Other types of buyers or those purchasing properties above this monetary threshold will have to pay the levy using one of two methods:

  • Market Value Election: Paying the tax in one go on the full market value of the property.
  • Gradual Payments: Paying the duty at the point of purchase and then nothing else until you own more than 80% of the property.

This change is also retrospective, meaning if you paid Stamp Duty on your property between the 22nd November 2017 and the introduction of this change, you should be able to claim this back.

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Need targeted advice from specialist shared ownership solicitors? Get in touch with our team today.