Shared ownership conveyancing solicitors

Shared ownership conveyancing is more involved than a standard property purchase. You are buying a share in a property and entering into a lease with a housing association at the same time, which means additional legal checks and documentation on top of the usual process. We work with solicitors who handle this type of transaction regularly and know what to look for.

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Shared ownership is a government-backed scheme that lets you buy a share of a property, typically between 25% and 75%, while paying rent to a housing association on the portion you do not own. You take out a mortgage on your share and can increase your ownership over time through a process known as staircasing.

The conveyancing process for a shared ownership purchase covers the legal work needed to transfer your share and put the lease in place. Because you are dealing with a purchase and a leasehold arrangement at the same time, the transaction involves more legal documentation than a standard residential purchase. You need a solicitor who has handled these before.

There are three things in a shared ownership transaction that are not part of a standard purchase.

• The lease. Shared ownership properties are always leasehold, and the lease governs the terms of your arrangement with the housing association for the life of your ownership. Your solicitor needs to review it carefully, checking staircasing provisions (whether you can reach 100% ownership or whether a cap applies), rent review clauses, restrictions on alterations or subletting, and any right of first refusal the housing association holds if you later sell.
• Housing association involvement. Your solicitor will make additional enquiries about the provider's financial position, service charge history and any planned major works to the building. Some lease clauses can lead mortgage lenders to refuse funding, so these checks need to happen before exchange.
• Dual transaction. You are purchasing your share and entering a new lease at the same time. This means more legal documentation and additional steps compared to a straightforward freehold or leasehold purchase, with slightly higher legal fees to reflect that.

The main stages are the same as a standard purchase, with the additions described above.

Once you receive the draft contract and lease from the housing association's solicitors, your solicitor will review all documentation, raise enquiries and carry out the usual conveyancing searches. They will also check the lease terms in detail and report to you on anything that needs your attention before you commit to exchange.

On exchange, you pay your deposit (calculated on your share, not the full property value) and contracts become legally binding. Completion follows at the agreed date, and your solicitor registers your ownership and the new lease at HM Land Registry.

The full process typically takes 8-12 weeks from offer acceptance to completion. Complications with lease terms or slow responses from the housing association can extend this, which is why it helps to use a solicitor who knows the process well.

• Deposit. Your deposit is calculated on your share, not the full property value. If you are buying a 25% share of a £200,000 property, a 10% deposit means £5,000 rather than £20,000.
• Legal fees. Shared ownership conveyancing typically costs between £800 and £1,500 in legal fees, slightly more than a standard purchase to reflect the additional lease work involved. Our quotes are fixed, so there are no surprises.
• Stamp Duty Land Tax. As a first-time buyer you benefit from SDLT relief on properties up to £425,000. You can also choose to pay stamp duty only on your share rather than the full property value, though this means you will pay again when you staircase. Your solicitor will advise on which approach suits your situation.
• Service charges. Most shared ownership properties have communal areas, which means service charges. These typically run to £500-£2,000 or more per year and usually increase annually. It is worth asking for the service charge history before committing.
• Conveyancing searches. Search costs are a disbursement on top of legal fees and vary by location, typically £200-£400.

Staircasing is the process of buying additional shares in your property after your initial purchase, up to full ownership. Each time you staircase, the share price is based on the current market value of the property, so the cost will vary depending on how prices have moved.

The conveyancing work for a staircasing transaction is simpler than the original purchase but still requires a solicitor. Your solicitor will review the updated lease terms, check there are no issues with the title and handle the Land Registry update once the transaction completes.

Typical costs for a staircasing transaction include a RICS valuation (£250-£500), legal fees (around £500-£1,000) and any applicable stamp duty on the new share. The valuation must be carried out by a RICS-registered surveyor. Our sister company Surveyor Local can arrange a market valuation to meet this requirement.

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