Assistance for Help to Buy & Shared Ownership Schemes
We have significant expertise in Shared Ownership and Help to Buy schemes and are familiar with the additional legal complexities which are involved in dealing with these schemes. We have established strong working relationships with the various Help to Buy agencies throughout the UK which allows us to provide you with a much smoother and more efficient level customer experience.
As new build specialists, we are on the preferred suppliers’ lists for most of the major housebuilders, which means that we are a trusted legal advisor for many of the Buyers.
What is a Shared Ownership Scheme?
Shared ownership schemes (part buy/part rent) are provided through housing associations. The Buyer acquires a share (between 25% and 75%) of their home and pays rent on the remaining share. The Buyer can increase their shareholding in the Property at a later date.
With Help to Buy, shared ownership schemes allow you to buy a newly built home or an existing one through resale programmes from housing associations.
You can buy a home through shared ownership if:
- Your household earns £80,000 a year or less if outside of London (or
£90,000 a year or less if in London)
- You’re a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move.
We are on the panel of recommended solicitors with a number of regional Help to Buy agencies and have also been accredited by Help to Buy Wales.
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Confused about Help to Buy & Shared Ownership?
PLS can help you through the process of getting your foot on the ladder