27th March 2018
Shared ownership schemes are usually provided by housing associations or private developers and allow you to obtain a stake in a property. The details, costs and restrictions involved vary by provider but in essence shared ownership schemes allow buyers who meet certain criteria to buy a stake (%) in a property, while paying rent on the remaining share to the housing association or private developer that own the building. You should be able to buy more of the property by “staircasing” i.e. increasing your share and in turn reducing your rent.
Such schemes enable you to get on to the property ladder more quickly than you might if you wanted to buy a property outright and it may be cheaper than renting but as with all attempts to enter the property market you need to apply some caution.
Please speak to our team for further information.
Head of Property Law Team
Wednesday 17 October, 2018
Buying a home can be stressful, especially for first-time buyers, so it's wise to do some research to ensure you know exactly what you’re getting...
Tuesday 12 June, 2018
Follow these steps to help you reduce your risk of being subject to property fraud...
Friday 4 May, 2018
Moving in together can be such a joyous experience but, let’s be honest; it can also be extremely scary! The process before receiving the keys can...
Lamb Brooks LLP
39 Winchester Street
f: 01256 330 933
© Lamb Brooks is authorised and regulated by the Solicitors Regulation Authority - SRA No 559661.
Lamb Brooks LLP (registered at Companies House OC363909) whose registered office address is: Victoria House, 39 Winchester Street, Basingstoke, Hampshire, RG21 7EQ
Website by Muze
Privacy Notice |