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Shared Ownership Solicitors Sheffield

Shared ownership allows you to buy a property without having to fund the entire purchase. In most cases, a share of between 25% and 75% of the property is purchased with an option to buy further shares, known as “staircasing”, until the property is owned outright.

The exception to this is when a property is located in a Rural Designated Area when only 80% of the property value may be purchased. This is to ensure that houses remain within the shared property scheme. Once 100% staircasing has occurred, a leasehold property will be held under the original lease but the shared ownership provisions will no longer apply. There is a 21-year restriction on the disposal of shared ownership property, meaning that the house or flat cannot be sold for 21 years after 100% straircasing is effective.

The law and procedures relating to shared ownership are complex; it is highly recommended that you work with a firm that specialises in this area. The Residential Conveyancing Solicitors at Wilford Smith have many years experience acting on behalf of shared owners and shared ownership providers, and can advise on all matters concerning eligibility, buying and selling of shared ownership properties. We have a strong track record in assisting clients involved in shared ownership transactions.
Contact our Residential Conveyancing Solicitors, Sheffield

Our Shared Ownership Experts are based in Sheffield and advise and represent clients throughout England and Wales. Find out more information on our fees here. Contact us today on 0808 164 1028 to find out how we can help.

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At Wilford Smith we are invested in your success. Our team will get to know you, your family, your business, and your market sector. To us, you and needs are unique. You can be confident that by instructing us, we will take care of all your legal matters throughout your lifetime, providing creative solutions and protecting your best interests.

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SHEFFIELD

  • Meadowhall Business Park
  • S9 2EQ
  • Tel: 0808 164 4106
  • Fax: 0844 225 0572

ROTHERHAM

  • Smithy House 22 Westgate,
  • Rotherham S60 1AP
  • Tel: 0808 164 4106
  • Fax: 0844 225 0572

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  • 20 Old Bailey
  • LondonEC4M 7AN
  • By appointment only
Copyright ©2022 Wilford Smith, All rights reserved.
2022 Wilford Smith is the trading name of WS Strategic Ltd. a limited company registered in England and Wales, registration number 07777022. Registered office – Meadowhall Business Park, Sheffield S9 2EQ. We are authorised and regulated by the Solicitors Regulation Authority. SRA Registration Number 640898.