Shared Ownership

Shared Ownership

Posted by David Inch, on February 26, 2020. Tags: , ,

Our team have an expertise in shared ownership leases.  They are becoming an increasingly important part of conveyancing – particularly for first time buyers hoping to get onto the property ladder for the first time.

We had a good working relationship with the Housing Association’s solicitors and were encouraged by them to apply to the Housing Association to have the firm added to their panel of preferred solicitors. We made the application and were delighted when they agreed to add the firm to their panel.

The benefit of being so appointed became very apparent following the recent launch of a new site of ten units that the Housing Association were about to offer to prospective purchasers.  

Before the launch we asked to review the contract documentation for the site.  All of our legal enquiries relating to the site were answered, and our amendments to the contract and lease documents were approved, before the launch.

We visited the site to meet the Housing Association’s sales representative and agreed a scale of legal costs for their prospective purchasers.

The launch weekend was very successful and we took instructions from six prospective purchasers to do their conveyancing.

Having previously approved the documentation we were able to deal with the conveyancing aspects for all six purchasers very quickly and all were very pleased to move into their new homes within a month of instructing us.

The Housing Association was equally pleased as all of the purchases were completed before their year end, which was important to them for funding reasons.