Shared ownership is a part-buy, part-rent scheme. If you cannot afford all of the deposit and mortgage payments for a home that meets your needs then this is a great option, as you buy a share of the property and pay rent to a landlord, or housing association on the rest.
Over time you are then able to buy more shares in your home, this is known as ‘staircasing’, with the ultimate aim of buying it outright whenever you can afford to. As you buy more shares, you’ll pay
less rent as the amount of rent you pay will be based on the landlord’s share. For more information on shared ownership schemes, click here.
Why choose Cavendish Legal Group?
Cavendish Legal Group have been assisting buyers and sellers with their Shared Ownership transactions for over 20 years. We have a wealth of experience to draw on in all aspects of Shared Ownership and other Affordable Housing Schemes whether you are buying, selling or staircasing.
All our case managers in the Shared Ownership department understand that the speed of the transaction is crucial. We are particularly proud of our ability to meet tight deadlines for off-plan and new build developments. We work with you, the Housing Association and your mortgage advisor to ensure all targets are met; you understand the process and end up with your ideal property with the minimum of stress. We’re proud to offer personal and professional expertise.