Shared ownership is an affordable home ownership scheme designed to help people get onto the property ladder. Instead of buying a property outright, you'll typically purchase an initial share of between 10% and 75% and pay rent to a housing association on the remaining share. You can usually increase your ownership over time by purchasing additional shares in the property.

Read our guide to learn more about how shared ownership works, including eligibility criteria, costs and the advantages and disadvantages of the scheme.

Yes. Shared ownership purchases often involve additional legal requirements beyond a standard property purchase. For example, your conveyancer will need to review the shared ownership lease, liaise with the housing association and ensure any scheme-specific requirements have been satisfied before completion.

In addition to your deposit and mortgage costs, you'll usually need to budget for conveyancing fees, property searches, Land Registry fees and other disbursements. Shared ownership properties may also involve ongoing rent and service charge payments to the housing association.

Your conveyancing quote will provide a clear breakdown of the costs associated with your transaction.

Get a free personalised conveyancing quote for your shared ownership purchase today.

Yes. Shared ownership transactions involve additional legal work compared to many standard purchases, including reviewing the lease and ensuring the requirements of the housing association and any mortgage lender have been satisfied before completion.

Whether you work with a shared ownership conveyancer or solicitor, it's important to choose a professional who understands the additional legal requirements involved in shared ownership transactions.

Every transaction is different, and timescales can vary depending on factors such as mortgage approval, property searches, enquiries and housing association requirements. Shared ownership purchases can sometimes take longer than a standard purchase due to the additional parties involved in the transaction.

Staircasing is the process of increasing the share you own in a shared ownership property by purchasing additional shares from the housing association. For example, if you initially purchased a 25% share, you may be able to buy further shares over time until you eventually own 100% of the property, depending on the terms of your lease.

Read our guide to learn more about staircasing, including how the process works, the costs involved and the steps required to purchase additional shares.

In many shared ownership schemes, yes. you may be able to purchase additional shares in your property through staircasing. As your ownership shares increase, the amount of rent you pay on the remaining share will usually reduce. The options available to you will depend on the terms of your lease and the requirements of your housing association.

With our No Move, No Legal Fee promise, you won't pay our legal fee if your purchase doesn't complete. If your purchase is unable to proceed to exchange of contracts, the cost of your next set of conveyancing searches will also be supplied free of charge, as per our Search Pack Guarantee. ^{(T's & C's apply).}