Shared Ownership

Property is expensive, and not everyone can afford to buy outright. Shared ownership schemes offer a practical solution for individuals who cannot raise a full deposit or mortgage, enabling them to step onto the property ladder and gradually build equity in a property co-owned with a housing provider.

Typically administered by registered social landlords, housing associations, or sometimes private developers, shared ownership allows buyers to purchase an initial share of the property (usually between 25% and 75%) with a mortgage while paying rent on the remaining portion. As only a mortgage for the purchased share is required, the necessary deposit is significantly lower. Over time, buyers can increase their ownership share through a process called ‘staircasing,’ eventually owning 100% of the property.

Eligibility criteria vary by provider but usually include a household income of less than £80,000 and not currently owning another property, although past ownership is permitted. Shared ownership properties are leasehold, not freehold, which involves specific legal considerations. These schemes are more complex than standard house purchases, with unique lease terms and potentially different stamp duty implications.

With extensive experience in shared ownership transactions, our team is well-equipped to guide you through the legal complexities, ensuring a smooth and informed buying process.hip properties, and have helped many people get on the property ladder. We have particular expertise where the property is on a new residential development.

Key Contacts

Danielle Julyan

Associate Solicitor

danielle.julyan@wollens.co.uk 01803 396675

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