Shared ownership offers a more accessible route onto the property ladder, but the legal process is more involved than a standard purchase. Whether you’re buying your first shared ownership home, staircasing to increase your share, or selling, you need a solicitor who genuinely understands how the scheme works.
At Heringtons, our residential property solicitors have years of experience handling shared ownership conveyancing across East Sussex. We’re accredited under the Law Society’s Conveyancing Quality Scheme (CQS), and we’ll guide you through every stage clearly, without the jargon.
Speak to our shared ownership solicitors today
For advice about shared ownership conveyancing, contact our team at our offices in Battle, Bexhill-on-Sea, Eastbourne, Hastings or Rye.
Alternatively, complete our online enquiry form and a member of our team will be in touch shortly.
What is shared ownership?
Shared ownership is a government-backed scheme that lets you buy a share of a property, typically between 10% and 75% of its full market value, and pay a reduced rent on the remaining share to a housing association or other registered provider. Over time, you can buy further shares until you own the property outright.
Because you don’t purchase the whole property at once, shared ownership can make homeownership more affordable, particularly for first-time buyers in areas like East Sussex, where property prices remain high relative to average incomes.
Shared ownership properties are always leasehold. That means there are additional legal documents to review alongside the standard conveyancing paperwork, including the lease itself and the housing association’s specific requirements.
Why you need a specialist shared ownership solicitor
Shared ownership conveyancing is more complex than a standard freehold purchase. As well as the usual buyer/seller legal process, your solicitor also needs to deal with the housing association as a third party. Housing associations have their own requirements, timescales, and documentation, which can slow things down if your solicitor isn’t familiar with the process.
A specialist shared ownership solicitor will know what to expect at each stage, how to raise the right enquiries with the housing association, and how to review the lease carefully to protect your interests. Choosing a solicitor without shared ownership experience risks delays and, in some cases, errors that could affect your legal position.
Our team is accredited under the CQS, demonstrating our commitment to high standards of client care and professional practice in residential conveyancing. We won’t pass your file between faceless teams. You’ll work with a named solicitor who knows your situation.
The shared ownership conveyancing process
Shared ownership conveyancing follows a broadly similar path to a standard purchase, but with additional steps. Here’s what to expect from our team:
- Reservation: You reserve the property with the housing association and instruct your solicitor.
- Draft contract pack: The housing association’s solicitors send over the draft contract, lease, and supporting documents.
- Searches: We order the standard property searches, including local authority, environmental, water and drainage searches.
- Lease review: We review the lease in detail, checking key terms such as the rent review clause, service charges, and any restrictions.
- Raising enquiries: We raise any questions with the housing association’s solicitors and review their responses.
- Mortgage offer: If you’re using a mortgage, we liaise with your lender to ensure their requirements are met.
- Report to you: We provide a full written report on the property and lease so you can make an informed decision before exchanging contracts.
- Exchange: Both parties sign the contract and exchange, making the agreement legally binding.
- Completion: Funds are transferred, and you receive the keys to your new home.
Shared ownership eligibility requirements
To be eligible for shared ownership, you generally need to meet the following criteria:
- You’re a first-time buyer, or you used to own a home but can no longer afford to buy one outright.
- Your annual household income is £80,000 or below (this threshold applies in East Sussex).
- You’re a UK citizen or have the right to remain in the UK.
- You don’t currently own another home.
Some schemes have additional eligibility criteria, including local connection requirements. We’ll help you understand the specific requirements for the property you’re purchasing.
How long does shared ownership conveyancing take?
Shared ownership conveyancing typically takes between 10 and 16 weeks from reservation to completion. This is often longer than a standard purchase because of the additional steps involved in dealing with the housing association and reviewing the lease.
Factors that can affect the timeline include:
- The housing association’s response times
- The complexity of the lease
- Whether you’re applying for a mortgage
- Whether there are any issues raised by searches or enquiries
We work proactively to keep your transaction on track, chasing responses and updating you regularly so you’re never left wondering where things stand.
Stamp Duty on shared ownership properties
Stamp Duty Land Tax (SDLT) on shared ownership properties works differently from a standard purchase. There are two options:
Market value election: You pay SDLT on the full market value of the property at the point of purchase, not just the share you’re buying. This can mean a higher upfront cost, but you won’t pay SDLT again as you staircase.
Paying on the share purchased: Your SDLT submission is based on the value of the share you’re buying initially, then calculated again each time you staircase beyond a certain threshold.
First-time buyer SDLT relief may be available to reduce or eliminate the amount payable. For more complicated positions we may advise you to seek specialist help on your SDLT liability.
Staircasing: buying more shares in your property
One of the key benefits of shared ownership is the ability to staircase, that is, to buy additional shares in your property over time, usually in minimum increments of 10%. Once you own 100% of the property, you’ll no longer pay rent to the housing association, and the property may be converted to freehold in some cases.
Each staircasing transaction requires a new legal process. If you’re using a mortgage to fund the purchase, your lender will also need to be involved.
Our team can help at each stage of the staircasing process ensuring your updated ownership is correctly registered at HM Land Registry.
Selling a shared ownership property
Selling a shared ownership property involves a few additional steps compared to selling a standard home. Some leases include a nomination period, typically four to twelve weeks, during which the housing association has the right to find a buyer for your property before it goes on the open market. Once that period expires, you’re usually free to sell on the open market.
Your solicitor will need to deal with the housing association as well as the buyer’s solicitor.
We’ll manage the full legal process, keeping communication clear and ensuring the housing association’s requirements don’t cause unnecessary delay.
Frequently asked questions about shared ownership
Do I need a specialist solicitor for shared ownership?
Technically, any solicitor can act on a shared ownership transaction. In practice, shared ownership conveyancing has specific features that a solicitor without experience in the area may not be familiar with. Choosing a solicitor with relevant experience reduces the risk of delays and ensures your lease is reviewed thoroughly.
How much do shared ownership solicitors charge?
Shared ownership conveyancing fees vary depending on the complexity of the transaction and the value of the share being purchased. Because of the additional work involved in reviewing the lease and dealing with the housing association, fees are typically higher than for a standard purchase. We’ll provide a clear, itemised quote before any work begins so you know exactly what to expect.
How long does shared ownership conveyancing take?
Most shared ownership purchases complete within 14 to 18 weeks of reservation. The involvement of the housing association as a third party means the process often takes a little longer than a standard purchase.
Can I use any solicitor for shared ownership?
Some housing associations and lenders maintain a panel of approved solicitors. Before instructing a solicitor, it’s worth checking whether your housing association or mortgage lender has any restrictions. As a CQS-accredited firm, Heringtons is recognised by major lenders and regularly accepted by housing associations across the country.
What is staircasing and do I need a solicitor for it?
Staircasing is the process of buying additional shares in your shared ownership property. Each staircasing transaction requires legal work, including reviewing updated documentation, handling the financial transfer, and registering the new ownership at HM Land Registry. You do need a solicitor for this process.
What searches are needed for shared ownership?
The standard searches required for a shared ownership purchase are the same as for any property transaction: local authority, environmental, and drainage and water searches. Additional searches may be recommended depending on the location of the property. We’ll advise you on which searches are appropriate for your specific purchase.
Speak to our shared ownership team today
If you’re buying a shared ownership property, thinking about staircasing, or looking to sell, our team is here to help. Get in touch with our shared ownership solicitors at any of our five offices across East Sussex:
You can reach us at our offices in Battle, Bexhill-on-Sea, Eastbourne, Hastings or Rye.
Or complete our online enquiry form and a member of our team will be in touch shortly.
To speak with our shared ownership solicitors directly, call us on 0800 001 4543 or contact your nearest office: