|Losing the plot|
Increasing property prices and the inability of first time buyers to get onto the property ladder has given rise to the introduction of a number of schemes known as shared ownership schemes.
Shared ownership schemes have been introduced to enable individuals:
- to purchase a share of a property
- lease on payment of a rent the remainder from a housing association or similar body
As you own a percentage of the property rather than all of it, when you come to sell, strict procedures must be followed including:
- giving notice of sale to the housing association
- giving the housing association at least 2 months to find a buyer
- obtaining the housing association’s consent to your sale
The details of the schemes can vary immensely. At Hart Brown we regularly act for sellers of shared ownership properties and are very familiar with the issues that commonly arise.
We will provide you with full clear and easy to follow reports to enable you to understand the paperwork behind the process.