With mortgage funding sometimes difficult to obtain and with house prices still being unreachable, shared ownership schemes can help you to get on the housing ladder.
There are different types of schemes available and shared ownership is one of them. You buy a share of the property and pay rent on the remaining share, often to a Local Housing Authority. Over time, you can then opt to purchase further shares in the property to eventually own the property outright, depending on the scheme.
Stamp duty may be able to be saved by making an election when you first purchase. We will discuss the benefits of this if it applies with you when reporting to you on the purchase documentation.
We have extensive experience in dealing with shared ownership properties and to discuss your requirements further please contact one of the team.
Leading South West law firm Stephens Scown LLP is to launch an innovative online campaign by taking ...Read more