Shared ownership is a government scheme designed to help people who cannot afford to buy a property outright. It allows you to buy a share of a property (between 25% and 75%) and pay rent on the remaining share, which is owned by a housing association.

Shared ownership is aimed at first-time buyers, people who used to own a home but can’t afford to buy one now, and existing shared owners. Your household must earn £80,000 a year or less (£90,000 in London), and you must be unable to purchase a suitable home to meet your housing needs on the open market.

Absolutely. At Sky Solicitors, we have the expertise to guide you through the shared ownership process. We can advise you on all aspects of the purchase, including eligibility, understanding your lease, and what happens if you want to sell.

Shared ownership costs include mortgage payments on the share of the property you own, rent on the remaining share, service charges, and potentially other costs such as ground rent. As part of our services, we’ll provide a clear breakdown of all costs associated with your shared ownership transaction.

Staircasing is the process of buying additional shares in your shared ownership property, up to 100%. As you buy more shares, your rent decreases. At Sky Solicitors, we can guide you through the staircasing process, helping you to understand your rights and obligations at each step.

Yes, you can sell your share of a shared ownership property. Depending on your lease, the housing association may have the ‘right of first refusal’, meaning they have the first option to buy your property before you sell it on the open market. We can help you navigate this process and ensure your sale goes smoothly.

It depends on the terms of your lease. In many cases, you will be able to make non-structural improvements without permission, but structural alterations will likely require consent from the housing association. We can help you understand the terms of your lease and assist with any necessary applications.

The application process varies depending on the specific scheme and the region in which you are applying. Generally, you will need to apply to a local Help to Buy agent or housing association. We can guide you through this process and help with any necessary legal paperwork.

If you are struggling to keep up with payments, it’s important to speak to your mortgage lender or housing association as soon as possible. Legal advice can also be beneficial in these situations. At Sky Solicitors, we can help you understand your options and guide you through this difficult time.

Yes, we provide comprehensive legal support for disputes related to shared ownership properties. Whether you’re dealing with issues related to rent arrears, service charges, or leasehold disputes, we will work tirelessly to protect your rights and secure the best outcome for you.