Shared Ownership

If you’re buying a new home through a shared ownership scheme or just want to buy more shares in your existing shared ownership property, you need a solicitor who knows the shared ownership process. Youngs Law have a dedicated shared ownership team ready to help support you with buying your home or increasing your shares.

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If you’re looking to buy a new home through a shared ownership scheme or looking to increase your shares in your current property (known as stair casing), you need a solicitor who knows the process and the nuances that come with the process.

We have a specialist shared ownership team ready to help assist you with all the legal processes involved with a shared ownership property. So you can get into your home or cut down the amount of rent you’re currently paying. Our experienced team of shared ownership conveyancers have a wealth of experience in dealing with shared ownership schemes, so you know you’re in good hands.

If you’d like to get a quote for your shared ownership process, you can get an instant quote below and have your price within minutes. If you’re looking to buy more shares in your current property, please call our dedicated team on 033 33 582 594.

Shared Ownership Conveyancing:

The legal process of buying a home under shared ownership is often more complex than other types of conveyancing and therefore having a solicitor who knows the process and has experience in dealing with the process can save you lots of time.

Youngs Law have a dedicated conveyancing team shared ownership properties with decades of experience in helping people to buy a new home. There can often be issues with new homes that cause serious complications, issues like non-compliance with planning regulations, failure to arrange NHBC inspections, incomplete agreements for roads and sewers, failure to plan for the future maintenance of common parts of a development and so on which can cost you dearly if not done properly.

We aim to provide a bespoke and flexible service to ensure that your purchase is completed thoroughly and as smoothly as possible. It is not uncommon for property developers’ solicitors or sales teams to put pressure on you to complete, often when it is not the right time to do so. This is why having an independent solicitor is recommended. They’re not under any pressure to complete due to sales targets and will only go ahead with completion when they know everything is ready for you and any issues have been ironed out.

We know that moving home is important to you and we promise to do everything we can to make sure that you get the keys to your new property as quickly and easily as possible.

The Staircasing Process

When you purchase a property through a shared ownership scheme, you will often start with a share of between 25%-50% of the property. This means you will pay a mortgage on that price and then rent the remainder of the house.

Overtime, you may wish to purchase more shares in the house, increasing your mortgage and lowering the rent. Normally, these steps come in 10% increments, however depending on the lease you may be able to buy as little as 5% at a time or as much as 25%. All of this should be outlined in the lease so you should be aware of the staircasing process upon your purchase.

If you purchased your property in 2021, you may be able to buy shares of 1% each year for the first 15 years, this should be outlined in the lease but if you’re unsure you can ask your landlord.

Valuations and Home Improvements

As home owners, you may wish to make home improvements to increase the value of your property, or to just freshen up the place.

If you do make home improvements, which could affect the value of your home you will need to have the property valued as it may impact purchasing more shares in the future.

Normally you will get 2 valuations:

  • The current market value – this includes any home improvements you have made and is likely to have increased the value
  • The unimproved value – the market value of the home ignoring any changes you have made

When making changes you must be aware of how they may impact the price of additional shares in the future.

If you have the landlords written permission to make the changes and carry out home improvements, buying more shares will often be based on the unimproved value. However, if you do not receive the landlords permission to make home improvements then the price of purchasing any shares in the future is likely to be based on the current market value, which will now be higher and therefore increase the price of buying extra shares.

Can I Own 100%?

Yes, most shared ownership schemes will allow you to buy the full value of the property. There are some exceptions to this rule which we outline below:

In some areas, known as ‘designated protected areas’ you may only be able to buy shares of up to 80%. This should be declared before you purchase the property but if you are unsure, ask your landlord.

If you buy an older persons shared ownership (OPSO) home then the maximum share you can own is 75%.

Selling a shared ownership property

You can your shared ownership property whenever you wish. If you own 100% of the property, you are able to list the house on the open market, using an estate agent.

If you do not own 100% of the property then you must tell your landlord about your wish to sell. This will enable the landlord to start searching for buyers for your share of the property. When you give your landlord notice that you would like to sell, there is usually a 4, 8 or 12 week (depending on the lease) ‘nomination period’ where they look for a buyer. If your landlord is unable to find a buyer in that period, you can list the property on the open market.

Please check your lease details or check in with your landlord about the exact terms should you wish to sell.

Please note: if your home has a ‘designated protected area – mandatory buyback’ lease then you will not be able to list the property on the open market. In this situation your landlord will either buy your shares or look for a buyer for your shares of the property.

Why Choose Youngs?

Youngs Law have a dedicated team for new build and shared ownership properties. They pride themselves on ensuring that your matter goes through smoothly and in timely fashion. Their experience in new build and shared ownership properties allows them to work with developers and housing associations to get information and they are experts in the process. All of this means you get a tailored, expert service and the keys to your new home as soon as possible.

We will carry out all the necessary legal checks and paperwork and contact you only when required. We also know that communication between you and your conveyancer is extremely important in making sure things are done efficiently. With us, you will deal with the same solicitor from start to finish, so you only have to deal with someone who understands your case and is aware of the complications that you might be facing.

In addition to being qualified solicitors, we are proud to hold Law Society Legal Excellence and Law Society Conveyancing Quality Scheme accreditation so you can trust us to handle your affairs and take away the hassle of legal work involved in a property transaction.

Nationwide New Build Conveyancing

Youngs Law have 5 offices throughout the UK and can help you to move house no matter where in the country you’re living or moving. If you do wish to come in and speak with us our offices are based in Havant, Southampton, Liverpool, Stoke-on-Trent and Newcastle-under-Lyme.

Other Property Services

We can help you with:

For more information about conveyancing, you can read our blog – everything you need to know about conveyancing

Other Services

Richard Ayling | Property Solicitor | Youngs Law

Richard Ayling

Chartered Legal Executive  – Havant

Youngs Law | Josie Peach

Josie Peach

Conveyancing Executive – Havant

Youngs Law | Mariam Majid

Clare Dawson

Solicitor – Stoke-On-Trent

Youngs Law | Mariam Majid

Sophie Nivoit-Grahamn

Solicitor | Newbuild Team- Southampton

Conveyancing F&Qs

What is residential conveyancing?

Residential conveyancing is the term used for the legal process in which a house is bought or sold. The term residential simply refers to the fact that the property that is involved in the transaction is for living in and not a commercial transaction, such as buying a shop or building used to business. 

How long does it take?

The time it takes for the process to complete will vary from property to property. There can be complications that arise which may mean more work is required but as a rough guideline you should expect the process to take somewhere between 8 and 2 weeks.

What is a "chain"?

A chain is the term used when there is a line of people wanting to buy but are waiting on the completion of their sale or the sale of the house they’re buying to move. 

This leads to a number of linked transactions, each dependent on the other, and exchange of contracts must take place simultaneously in all transactions (usually with the completion dates also being synchronised).

What does exchange mean?

Exchange refers to the exchanging of contracts. Once exchange has taken place, usually by a conveyancer over the phone, the contract is legally binding and you cannot pull out of the transaction. 

Up until that point, either party are free to withdraw from the deal. 

How much deposit do I have to pay?

The industry norm is for a deposit is 10% of the purchase price. Sometimes buyers cannot find that amount and a lesser amount can be negotiated and you are also entitled to pay more than 10% if you have the money available and want to use a small loan amount or mortgage. 

Often the deposit received on the sale is passed down the line of purchases (which in many instances will be less than 10%). It may be difficult to negotiate a deposit of less than 5%.

What is a survey?

A survey or home buyers report is a highly recommended part of any house purchase. Under English law you take the property as you find it and the survey will give you a complete overview into all aspects on the property so you know that there are no issues and if issues are find, the price is often renegotiated. 

Whilst some buyers are content to do that themselves or to have it looked over by a builder, in the majority of cases buyers arrange for properties to be inspected by a professional surveyor.

For further information and confidential advice from our team of specialist solicitors, please contact a member of our team or call us on

033 33 582 590

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