London Shared Ownership: Specialist Solicitors

Thank you very much for your support and excellent service! You have been amazing! [August 2019]

It’s best to have specialist solicitors handling shared ownership work

We sincerely thank you for your hard work ensuring that our flat sale and house purchase all went through so quickly and smoothly. We really do appreciate your efforts and will ensure we recommend you to friends and family who might be moving in the future. [July 2019]

Law Society Conveyancing Quality Scheme accredited

Thank you very much indeed for everything you have done. It hasn’t been smooth but you have been superb through it all, we can’t thank you enough. We will definitely be recommending you to others and would certainly use your services again ourselves. [August 1019]

Fully-itemised costs quotation for buying, selling, staircasing shared ownership properties by return email

We sincerely thank you for your hard work ensuring that our flat sale and house purchase all went through so quickly and smoothly. We really do appreciate your efforts and will ensure we recommend you to friends and family who might be moving in the future. [July 2019]

Go here for buying, selling or staircasing properties outside London. 

I want to thank you for all the work you have done here. You have been exceptionally professional and very helpful in this whole process. I will definitely recommend your services to anyone who is in a similar position to myself. [January 2019]

On major housing associations’ panels of recommended buyers’ solicitors

Thank you for your super swift and quick action last week! You saved the day! Very grateful! [March 2019]

On all major lenders’ panels

Excellent news. Thank you for all the support during this process. Looking forward to collecting the keys later this afternoon.

I would like to take this moment to thank you for everything you have done over the last couple of months. I feel as though the service was above and beyond what I expected.

Thank you for your help, we came to you first as you were so efficient when we brought our first home. [January 2019]

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Thank you. That is excellent news. I appreciate your excellent professional service over the last few months.

Thank you. That is excellent news. I appreciate your excellent professional service over the last few months.

Buying & selling London shared ownership properties

London shared ownership boroughs

Best for specialist solicitors to handle transactions

Shared ownership schemes enable purchasers to buy a new or existing home from a housing association. You purchase the maximum share in the property that you can afford (minimum 25%) and pay rent to the housing association on the remaining share which they retain. Properties can be brand new (where you are granted a new lease by the housing association) or sold by existing shared owners (where you will take an assignment or transfer of an existing lease).

“Thank you very much for providing this quote so quickly. I am phoning around a few different solicitors at the moment but this looks like a good price.” (London purchase)

“You have been fantastic throughout the whole process.” [February 2019]

Shared ownership stamp duty changes

In the Budget on 29th October 2018 the scope of “First-Time Buyer Relief” (more accurately called first-time owner relief, since prior ownership of inherited property excludes from eligibility) was extended, with retrospective effect back to 22nd November 2017.

First-Time Buyer Relief now extends to eligible buyers in all shared ownership (new-build and resale) purchase transactions with full market value £500,000 or less, for new-builds whichever of the “full market value” or “payment in stages” options is chosen.

So FTBR can now apply to purchases of new-builds where the “payment in stages” option is (or has been) taken in transactions completed on or after 22nd November 2017.

Since the last Budget, First-Time Buyer Relief could not be claimed in purchases of resale shared ownership properties (save when full market value duty had been paid on the initial purchase), but the Finance Bill just published proposes to extend FTBR to purchases of resales as well.

So first-time owners ought to check with the provider firm the numbers for SDLT on their shared ownership (new-build and resale) purchase legal costs quotations, as the SDLT payable may now have changed.

The Chancellor has fixed the anomaly created in his 2017 Budget (that many first-time new-build (and all resale) shared ownership buyers could not get First-Time Buyer Relief) by making it now available to all (subject to eligibility).

30th October 2018

Humphreys & Co.
Solicitors authorised & regulated under no. 62944 by the Solicitors Regulation Authority

London Shared Ownership Home Show

Leading shared ownership exhibition at the Queen Elizabeth II Centre, London

If you’re a first time buyer looking for help to get on the property ladder, join us at the London Home Show Spring 2019 on Saturday 21st September 2019. The London Home Show is the major event for first time buyers in London and attending the event is the best way to get all the latest information on the affordable home ownership market in the capital.

The London Home Show is FREE to attend. It takes place at the Queen Elizabeth II Centre, Westminster, from 11am-5pm.

Shared ownership schemes

Shared ownership schemes are provided through housing associations. You buy a share of your home (25% to 75% of the home’s value) and pay rent on the remaining share.

You’ll need to take out a mortgage to pay for your share of purchase price.

Shared ownership properties are always leasehold.

“Your service is excellent and I will recommend you to everyone I know who needs conveyancing and will definitely use your service again in the future.” (Walton-on-Thames sale + Surbiton freehold purchase)

Shared ownership available across London

Eligibility

You can buy a home through shared ownership if:

  • your household earns £60,000 a year or less (or £71,000 a year or less in London for a 1 or 2 bedroom property, or £85,000 a year or less in London for a 3 or more bedroom property)
  • you’re a first-time buyer (or you used to own a home, but can’t afford to buy one now)
  • you rent a council or housing association property

Shared ownership: London properties

Shared ownership offers a range of housing options to Londoners who cannot afford to get a foot on the housing ladder. These are provided by a range of housing associations and household named builders building new homes in the capital.

In London the Mayor of London has created an affordable home ownership programme. The scheme is designed to enable more Londoners to become home owners. This provides a gateway to affordable home ownership options in London.

The Mayor of London’s brand  promotes low cost home ownership throughout Greater London.

“I have been very impressed with your knowledge, straightforward approach and quick response to emails so would be happy to instruct you in the sale of my shared ownership property.” (London)

“You’ve provided an excellent service and I’ve already recommended you to my friend.” (staircasing Islington & Shorditch)

“We have been in touch with various solicitors and we believe that your firm offers the best value”  (London)

Shared ownership properties London-wide

CONTACT US BEFORE MOVING