Shared Ownership Or Equity Schemes | Homebuyer ConveyancingWritten by homebuy1
Shared ownership, shared equity schemes are managed by Housing Associations. Homebuyers buy a share of the property and pay rent on the balance.
Shared ownership means buying a share of a property, which is often between 25% and 75% of the property value, and paying rent on the remaining balance. This affordable route to home ownership is further supported by the share being purchased using a mortgage.
The Housing Association is a registered Social Landlord.
The Homebuyer panel supplies quotes to potential shared ownership home buyers. Transparent and clear legal costings helps would be buyers to check out their affordability. They can make their move when they are ready.
The Homebuyer Solicitors are ready to work alongside the Housing Association Conveyancers.
Helping Families and Individuals take the first step to Home ownership
Shared ownership buyers can go online and use the Homebuyer costs calculator to compare shared ownership quotes. The results can be filtered by price, location and by Mortgage Lender.
The system provides Homebuyers the tools to review their recommended Solicitors with members of the Homebuyer panel. Instructing a value for money solicitor is so important as every pound saved can be used to spruce up the new property.
Check out your results and prepare to save both time and money.
A straightforward, easy to use, house, apartment, new build simple conveyancing solution.
No Hidden Fees or Costs
So many websites provide legal costs that do not represent the true total. We at Homebuyer do all we can to ensure that shared ownership buyers are provided with an all inclusive, fixed fee quote.
The Homebuyer quote is valid for 21 days.
If Homebuyers run over that time before instruction then they should check with their chosen Homebuyer Solicitor that the total remains the same.
They can always get a new quotation after the 21 days.
Literally taking just a few minutes using the instant Homebuyer service.
Can the Shared Ownership Buyer increase their share at a later stage?
Each Housing Association will provide detailed terms on how the share of ownership can be increased. The beauty of the scheme is that as the share increase the rent decreases.
Many Homebuyers strive to own their property in full. In small increments they can slowly increase their share or maybe after a windfall of cash they can swiftly substantially increase their share to total ownership
Buyers can use specific shared ownership mortgages. Finding a Mortgage Broker that has many lenders that will provide a mortgage is key.
Experienced Homebuyer Solicitors in the field of shared ownership, will be able to scrutinise and understand the Housing Associations terms and conditions of purchase.
Shared ownership buyers are joint owners and as such their interests must be managed by an Independent Solicitor.
If this is for you then watch out for Share to Buy, Shared Ownership Housing Association deals
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Why Choose Us
The Homebuyer Conveyancing panel provides you with the conveyancing calculation search filters to match your specific legal needs, when it comes to selling, buying and remortgaging residential property or buy to let property investments. Our Lender Conveyancing Solicitors panel cover England and Wales. Your remortgage, sale and purchase conveyancing prices are fully itemised. No hidden extras. Free No Obligation Advice
First Time Buyer? Need Conveyancing Advice? – Prepare your conveyancing legal question and book a timed call back from your chosen Conveyancer.
Alternatively please call us on 0345 463 7664. We are here to help you.
Find your best Lender panel approved Conveyancing Solicitors quote for your residential New Build, Sale and Purchase, Moving House or Remortgage. Use our free independent Conveyancing Solicitors near me comparison service.
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You can get a discount on the following reports.
RICS Condition Report - Property Condition
RICS Homebuyer Report - Property Condition and Valuation
RICS Premium Building Survey - Property Condition, Valuation with approximate urgency with cost