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Shared Ownership

Shared ownership may seem like an interesting decision from a financial perspective, at DV Solicitors, we are dedicated to handling all the legal aspects of buying or selling a property for you.

Our goal is to provide a convenient, professional service that helps you fulfill your purpose as smoothly as possible.
Shared ownership solicitors

What is Shared Ownership?

Shared ownership happens when buyers acquire a share of a property from a housing association (HA) or registered social landlord (RSL), mainly after obtaining a mortgage. Basically, it means a buyer shares the ownership with the HA or RSL.

How can you buy a property with shared ownership?

To qualify, you must have a yearly household income of £80,000 (or £90,000 a year or less in London) and any of the following apply:

  • Must own a home, but cannot afford to buy one now
  • Must be a first-time buyer
  • Must rent a council or housing association property
  • Must be an existing shared owner
Shared ownership conveyancing

What is the process of buying a property?

The Property purchasing process includes the following steps, you don't need to worry about the whole process. Our expert property solicitors will do all the hard work for you!

Property Searches

Property Searches

We ensure that both you and your lender are well-protected as we make a detailed search on the property that you are interested in. The searches must not be confused as a survey. We suggest having a survey carried out as searches are a desk-based collation of documentary data on legal matters which could affect the property while the survey is done by a qualified surveyor and inspected physically. This is outside the scope of the legal process and you should make arrangements with a surveyor.
Exchange of Contracts

Exchange of Contracts

Contracts are entered into at exchange of Contracts where the solicitors for each party agree (usually over the telephone) that Contracts are then and there exchanged, at which point in time the obligations under the Contract become binding on both parties to the Contract. The price, date, and the machinery of completion are determined here.
Completion Date

Completion Date

The completion date is the date on which the Contract will be completed. This is the date on which everyone is expected to pay the balance of the monies and also to move and thus to gain possession of the property they are buying or move out of selling. Please note that as the transfer of the balance of the monies can only take place on a day when banks are open and willing to undertake the fund transfer, this means that completion (and thus the moving date) must take place on a working day and cannot take place at a weekend or on a bank holiday or public holiday.

Why do you need DV Solicitors to
help even after completion?

DV Solicitors has to check the deeds and papers they receive, report to HMRC and pay and Stamp Duty and register the purchase and the mortgage at the Land Registry. Once that has all been done the solicitor then has to tell the mortgage lender and the buyer and make sure the right papers and documents are sent to the right people.

Selling your shared property

When it comes to selling a shared ownership property, the process depends on whether you have 100% ownership or whether you wish to sell the share that you originally purchased. In either case, you are free to sell the property on – however, the terms of your lease will usually state that the Housing Association has the right to take back the lease or to nominate a buyer for the property. Even if you own 100% of your home, the Housing Association will usually retain its right to buy the property back or to nominate a buyer for 21 years after completion.

Purchasing of a property

Our fees cover all of the work necessary to complete the purchase of your new property, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you are interested to buy is in Wales.
Please note all prices below are exclusive of VAT. The fees listed are our average fee ranges for a purchase transaction. The fee (including additional fees and disbursements) may vary depending on the source of the instruction, your solicitor’s experience and location, the property price and what work we are required to do.
Legal Fee: £399 – £4,500

Selling your property

Guidance – Our fees cover all of the work necessary to complete the sale of your property.Please note all prices below are exclusive of VAT. The fees listed are our average fee ranges for a sale transaction. The fee (including additional fees and disbursements) may vary depending on the source of the instruction, your solicitor’s experience and location, the property price and what work we are required to do.
Legal Fee: £399 – £4,500

Our specialist conveyancing team has successfully handled property disputes without stepping foot in Court, and will be able to support you if Court intervention is inevitable.We like to keep our clients informed throughout the process, whilst maintaining a friendly and professional approach. We never leave our clients puzzled about what is happening with their transaction.

How much will it cost me?

Our Conveyance Solicitors offer will provide you with a free initial consultation. Leave everything to us as we handle everything hassle-free for you.

Contact us as you like!

People rely on us, and we pride ourselves on our client-centered advocacy and representation.
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Deo Volente is a company registered in United Kingdom with registration number 0C373569, VAT 125 446 327 and registered office Howard House 2nd Floor, St John’s Street, Bedford, MK42 0DJ, United Kingdom. We are an approved Alternative Business Structure authorised and regulated by the Solicitors Regulation Authority (SRA number: 568191) and we are member of the Bedfordshire Chamber of Commerce.
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