Shared ownership purchases require special consideration to the relationship between you and the housing association given that the housing association will retain a share in the property.
There are various types of shared ownerships or shared equity purchases. You should seek expert advice from our residential property solicitors when considering a shared equity or a shared ownership purchase.
Right to Buy purchases are different from regular purchases in that they entitle the purchaser to discount from the market value, therefore making the purchase very attractive. There are provisions in relation to the local authority being able to buy-back the property inside a ten-year period.
There are also provisions entitling the local authority to repayment of the discount of the property if sold within a certain period of time after completion.
We provide a complete service relating to the implications of purchasing under the Right to Buy legislation.
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