Oratto's member property conveyancing lawyers are based at multiple locations across the country so that you can be assured of finding an appropriate specialist who is local to you.
All are signatory to the Oratto Member Lawyer Code, which means you can be confident of finding the following qualities in your shared ownership purchase solicitor:
- Appropriate knowledge and expertise
- Openness and transparency
Furthermore, because the Oratto platform is completely free to the user you can be certain that by choosing an Oratto member you are not only making an intelligent and informed choice regarding your legal representation, you are also getting the best value for money.
Shared ownership and shared equity schemes are available from certain Housing Associations (HA) and Registered Social Landlords (RSL).
By taking advantage of one of these arrangements, you are able to buy between 25% and 75% of the property's total value while paying a subsidised rent on the share that is owned by the HA or RSL.
Shared ownership purchase schemes have developed as a response to the prohibitive cost of outright property ownership across the country.
In most cases, shared ownership buyers are able to purchase further equity in their homes (known as staircasing) when they are able, with many having the eventual goal of 100% ownership. However, the terms and conditions of shared ownership can be quite complex and it is likely that you will require the assistance of a property conveyancing lawyer to help you negotiate the process.
Shared ownership – who is eligible?
It is worth bearing in mind that shared ownership is only available to households whose income falls below a certain threshold:
- £71,000 a year for a one or two bedroom property in London
- £85,000 for a three or more bedroom property in London
- £60,000 a year for properties elsewhere in the country
Furthermore, shared ownership is only available to first-time buyers or those who have previously owned a home but are currently unable to buy one.
Shared ownership property solicitors
From Stamp Duty Land Tax to mortgage applications and more, Oratto's specialist shared ownership property conveyancing lawyers can help you achieve your dreams and objectives with confidence. By searching for legal representation through Oratto you can be sure you will find a legal practitioner who has expert knowledge of the shared ownership conveyancing process, wherever you are in the country.
For help and information that makes a difference, contact Oratto today.