Shared Property Ownership

We have specific experience in dealing with the purchase, sale and staircaising of properties by way of Shared Ownership lease.

Shared ownership is an affordable way to acquire your first home. You pay for it by obtaining a mortgage in the normal way. With this money together with your deposit, you buy a share of the property. The Housing Association own the rest and you pay rent to them for the remaining share.

It really is a great way to move into a brand new home at up to a 75% discounted price. It’s important to know that the entire house is yours. You do not need to share it with anyone else other than your dog! There are numerous Housing Associations providing new build properties and it is simple to register. You can apply if your household earnings do not exceed £80,000 per annum and you currently do not own a home or can’t afford to buy one at the current time. Of course, once you have found your dream home there are so many complicated things to do. You have to arrange finance and deal with Estate Agents and Solicitors. Well again, it is a lot more straightforward than you might think. By buying a shared ownership property you avoid the dreaded “chain” of transactions that you have no doubt heard about. One seller, one buyer (and a seller who will not change their minds or pull out because a purchase has fallen through or another property has come on the market with nicer wallpaper!)


At AmicusLaw we have a dedicated team with specific experience in dealing with the purchase of properties by way of shared ownership lease.

We understand that for most clients this will be the first time they have purchased a property and we, therefore, aim to guide clients through the purchase as quickly and efficiently as we can. From the start of the process right through to completion you will be dealing one to one with a specialist property lawyer with direct telephone/e-mail communication.

Our service is provided on a fixed fee basis. This means that you can easily budget for the costs involved in the transaction as we know how important this is to clients and because we deal with this specific type of work every day with referrals from a number of Housing Associations this allows us to keep our prices extremely competitive.

Our Fees (for dealing with the purchase) – £900 Dealing with your mortgage (if applicable) – £120 Bank Transfer fee – £30 Pre Exchange Searches – £270 Post Exchange Searches – £3.60 SDLT fee – £96 TOTAL £1,419.60. All fees quoted include VAT where payable.  

There will be a couple of additional payments required to be made to third parties which will be dependant on your purchase price. These are as follows:

The seller’s solicitors may request additional fees for the supply of the documents (this varies between £75 to £125). There will also be a notice fee payable if you are having a mortgage (normally £40 to £60).

This is a fee the Land Registry charge to register your ownership after completion.

This charge will be provided as soon as the specific price of your purchase is known but as a guide for a purchase between £80,000 and £100,000 the fee is currently £80 (based on the property being a New Build) Please note this fee will be increasing to £95 from 31st January 2022. 

There may be stamp duty to pay, but this is also dependant on your purchase price.

Stamp duty is payable once you exceed a price of £125,000. The rate is charged in bands and from £125,000 to £250,000 the band is 2% of the value of the property over £125,000.

  1. Not a First Time Buyer On an initial shared ownership purchase, you have the option of either paying stamp duty on the full market value or the premium and rent . As an example if the full market value of the property is £240,000 and you are buying a 50% share you would be paying £120,000. In this example you could elect not to pay stamp duty as your payment does not exceed £125,000. If however you elected to pay on the full market value your stamp duty on a purchase at this price as for all normal purchases would be £2,300. The benefit in paying on the full market value is that in future if you buy further shares no further duty is payable. However by electing to pay on the premium and rent the stamp duty is deferred although should you buy further shares in the future, taking your total share above 80%, the duty is payable on the market value set at that time.
  2. First Time Buyer Following the Autumn Budget there is now a special exemption for First Time Buyers. They will not be required to pay Stamp Duty Land Tax where they elect to pay on the full market value which is up to £300,000. Where the full market value exceeds this figure Stamp Duty is payable at 5% on the difference.

Sales, Staircasing & Help to Buy ISAS

We charge a fixed fee of £840.00 for a sale if there is a mortgage on the property and £780.00 if no mortgage – £30.00 bank transfer fee – £25.00 Land Registry documents. All fees quoted include VAT where payable. 

There may also be a charge for a Management Pack but each Housing Association charges differently so we can confirm that once we have been instructed

Staircasing is the process of buying a greater share of your property in a shared ownership home.

We charge a fixed fee of £780 if you are remortgaging to a new lender and £720 if you are remaining with the same lender. All fees quoted include VAT. 

We are registered with the Help to Buy ISA scheme and would be happy to discuss any queries that you may have in relation to this scheme.

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