Shared Ownership
Shared ownership is a halfway house between renting and buying and helps first-time buyers to overcome their greatest hurdle: a large deposit.
Buying and selling a shared ownership home works in the same way as a wholly owned property, except that, when selling the property, you must give the housing association the option to find a buyer before you put the property on the open market. Once sold, you receive a share of the sale price which is in proportion to your share of the property; for example, if the property sells for £200,000 and you have a 25 per cent share, you would receive £50,000.
For more information, please contact our residential property teams in Halifax, Brighouse and Huddersfield.