Shared Ownership Solicitors

The Wellers team includes a number of specialist conveyancers who deal with shared ownership property conveyancing. Our experience means we offer a practical, proactive service at affordable cost. Our experience enable us to guide first time buyers in understanding the important aspects of shared ownership which may not be obvious, especially when clients who have been accepted are understandably so excited at the prospect of buying their first property.

How it works and process

In broad terms the expression “shared ownership” encompasses schemes whereby a registered social landlord grants a lease of a percentage of the equity of a property and rents the remainder to the tenant. Those qualifying for shared ownership schemes were generally existing registered social landlords and local authority tenants. There are number of shared ownership schemes available including government backed schemes and details can be found at

Shared ownership allows you to buy a share (typically between 25% and 75%) of a property in England and pay rent on the remaining portion to a housing association.

The Process

  • Find a Shared Ownership Property: Browse listings with participating housing associations or estate agents.
  • Get Pre-approved for a Mortgage: You’ll need a mortgage for the share you’re purchasing.
  • Make an Offer: Once you find a suitable property, submit an offer through a solicitor.
  • Legal Checks and Completion: solicitor handles legal checks and ensure a smooth completion process.

What are the potential advantages and disadvantages

  • Lower Deposit: Requires a smaller deposit compared to buying outright, making it easier to get on the property ladder.
  • Affordable Monthly Payments: You only pay a mortgage on the share you own, making monthly costs lower than a full purchase.
  • Potential to Increase Ownership (Staircasing): You can gradually increase your ownership by buying additional shares from the housing association (called staircasing).
  • Shared Ownership Restrictions: You’ll need permission from the housing association for alterations and selling the property.
  • Rent on Un-Owned Share: You’ll pay rent on the portion you don’t own, which could limit your ability to save for staircasing.
  • Limited Property Choice: Availability of shared ownership properties might be lower than the open market.
  • Potential Market Value Fluctuations: If the property value increases, the cost of staircasing rises proportionally.

For further enquiries or assistance please email or telephone 020 8464 4242
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