Buying a part share in a property
Putting a shared ownership property on the market?
First time buyers finding it hard to get onto the property ladder can seek assistance form shared ownership schemes. Under these schemes, the buyer pays a reduced percentage of the purchase price and the rest is funded by a housing association. The buyer then pays rental fees for the proportion of the property they do not own with the option of buying it at a later date.
We can also advise you regarding the latest government schemes to encourage home ownership, including:
- Help to Buy
- Shared ownership
- New buy
- Help to buy mortgage guarantees
Shared ownership schemes can have complicated leases so it is important that you are fully aware of the terms of the scheme structure before you sign up. When it comes to selling your shared ownership property you have to adhere to the set procedure, notifying your housing association and giving them first refusal to buy the property.
Myers & Co Solicitors have extensive experience of dealing with sales and purchases of shared ownership properties and will make sure that you understand what your options are under your particular scheme. We have an excellent working relationship with many housing associations, with whom we will liaise with in your behalf.
Your mortgage company will also have very strict requirements and we will advise you on your obligations and conditions. Myers & Co Solicitors will do everything they can to help you secure your first home and get your family onto the property ladder.
Based in Stoke-on-Trent, Staffordshire, our specialist residential property solicitors provide conveyancing services throughout Staffordshire and Cheshire. To find out more, contact our conveyancing solicitors or call 01782 577000.
To receive a conveyancing quote, simply click on the conveyancing quote box below and enter details.
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