Male hand holds the key to the lock in the hand against the backdrop of the toy house sale

Shared ownership

Trust the experts at Cleaver Thompson Solicitors in Alfreton and Clay Cross to advise you about shared ownership.

Eligibility rules

Shared ownership sales and purchases can often be quite complex. We have the experience in dealing with shared ownership transactions to give you peace of mind and can help you navigate the complex process.

EASIER TO BUY A PROPERTY

Shared ownership is designed to make it easier for those who wish to purchase property by requiring a smaller payment up front, and the rest of the property’s value is covered by rent. The initial payment is usually between 25 and 75% of the property, and the rental amount is set to make up the difference. You pay rent either to a housing association or an individual.

Paying for more shares

To pay for the initial payment, you can either use your savings or take out a mortgage. You will need to make the mortgage payments alongside your rental payments. It is possible to pay for more shares in your home in the future, and this will mean you pay less rent, as the amount of rent you pay is dependent on how much of the property is owned by the landlord.