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Shared Ownership Solicitors Chatham

Low Cost Conveyancing
Competitive Conveyancing Fees
The shared ownership conveyancing process differs to a standard sale or purchase and you'll want to make sure that the costs don't go up. We only give Fixed Conveyancing Quotes which include all the work in just one low price.

No Sale No FeeNo Sale, No Fee Conveyancing
Our quotes include as standard our No Sale No Fee cover which means if for any reason your transaction should fall through, you won't incur the costs of the legal work to date. Read our No Sale No Fee Policy by clicking here.

Local ExpertiseKent Professionals
Our solicitors use their local knowledge of Chatham to ensure your home move completes as smoothly as possible. We have worked with most of the leading local estate agents and have direct connections with Medway Council. 

Conveyancing Quality Scheme CQSConveyancing Quality Scheme & On All Mortgage Lender Panels
The Law Society have awarded our solicitors the CQS badge of excellence which means we are able to deliver conveyancing services in Chatham to the high standards expected; which are regulated annually. We are also able to work with any mortgage lender in England & Wales including Metro Bank, HSBC, Santander & Halifax Plc.

Call 0333 344 3234 to get your quote (Local rate call charge) 

Who is eligible to buy shared ownership properties?

Criteria for eligibility for shared ownership do vary and this is also the case for shared ownership properties in and around Chatham. Normally, you can purchase a property via shared ownership if:

BulletYour household earns £80,000 a year or less (for London this becomes £90,000).

BulletYou are a first time buyer or you used to own a home but cannot afford one now or you are an existing property owner and wish to upsize to a larger property, for example to meet the needs of a growing family.

BulletYou rent a housing association or council property.

NB Shared ownership eligibility criteria changes from time to time; to ensure that you are currently eligible please check the Government's latest published information about Buying through Shared Ownership

Shared Ownership Example

If you were to buy a 25% initial share of a £200,000 property in Chatham, it means your share would be worth £50,000.

For this, if you had to save a 10% deposit, this would mean you having to save £5,000. You would have to get a shared ownership mortgage for the rest of the share, i.e. you would have to borrow £45,000 from a lender.

You could choose to pay stamp duty on the whole £200,000 value of the property but you would not need to, because your £50,000 share is less than the £125,000 threshold, above which you have to pay the tax.

You would have to pay £20 to the Land Registry for registration fees, because the value of your portion of the property is between £0 and £80,000, but if the property is a new build and is being registered for the first time, you would have to pay £40.
What is Shared Ownership?
Shared ownership is all about part owning and part renting a property from a housing association. You normally have to buy at least a 25% share.  Shared ownership schemes are administered by housing associations to help people to buy properties who would not have sufficient resources to do so on the open market. 

If you satisfy the eligibility criteria (please see below) and want to get a shared ownership home in Chatham, Rochester, Kent or anywhere in Medway Council, you have to gather a deposit to buy the percentage share you want to buy and you must also approach a mortgage lender to get a shared ownership mortgage to buy the rest of this initial percentage.

When it's been at least a year since you bought your home, you normally have the option to staircase, that is, to buy an increasing percentage of your home. This is explaned here -  Staircasing Shared Ownership.

Shared ownership conveyancing has more potential pitfalls in it than more standard conveyancing (find out more about it here). There are fixed procedures and deadlines which must be met, making it highly important to get an experienced shared ownership conveyancing solicitor on board to help you - not to do so may well prove to be an expensive false economy. 

You can find out about shared ownership in Chatham by contacting Medway Council by letter to Gun Wharf, Dock Rd, Chatham ME4 4TR or by phoning 01634 306 000.

Question-Mark.pngHow do you Apply for Shared Ownership in Chatham?
We work with all the Housing Associations throughout Kent including L&Q, Family & Mosaic, East Thames Homes and  A2 Dominion. You can see the details for all housing associations in London here - List of Housing Associations for Shared Ownership in and around London


Our Conveyancing Solicitors are experts on Shared Ownership in Chatham.

Please rest assured that our fixed fee conveyancing quotes ALWAYS cover all the work that your appointed solicitor must do to finish your shared ownership conveyancing. We are used to providing conveyancing services in and around the Chatham area and our solicitors always make sure that our quotes are fixed and competitive.

Call 0333 344 3234 for a tailored, fixed fee conveyancing quote.

Shared Ownership Solicitors Quote


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