Shared Ownership Protection

When you jointly own a property as tenants in common, whether family, friends, work colleagues or people you connect with through Share a Mortgage, you are strongly advised to draw up a legal agreement which protects your individual interests.

You need to draw up a robust Shared Ownership Protection agreement (also known as a deed of trust or declaration of trust), which is legally binding and sets down exactly what your stake in the property is, from deposit funds you contribute and monthly mortgage repayments you make. You should also agree what happens if any of you want to leave the property or if there's a sudden change in circumstances. You may also want to establish house rules to help your house share be a harmonious one.

Shared Ownership Protection covers all of these matters and we help you and your house sharers draw up an agreement which is bespoke to all your requirements.

How much does Shared Ownership Protection cost?

Shared Ownership Protection is always unique to anyone's sharing arrangements and you decide between you how basic or in-depth it is. Prices vary from £180 to £499 INC VAT.

How do I get Shared Ownership Protection?

Call 0333 344 3234 and speak to one of our experts or fill out our contact form or email help@shareamortgage.com. We discuss your requirements with you and draft your agreement.

BASIC SILVER GOLD
Tick Your deposit contribution is shown clearly and separately from those of other joint owners

Tick You agree the percentage share of any gain or loss on sale (this is fixed and doesn’t account for payments made during your joint ownership such as mortgage repayments or repairs/renovations)

Tick Lists Registered Legal Owners (can't include non-registered owners such as parents investing with children)

Tick Calculation for working out any gain or loss from rental income 

Tick Mechanism for buying out any other party’s share of property 

Tick Section for stating individual contributions towards outgoings

Tick All terms explained in simple English

Tick Your deposit contribution is shown clearly and separately from other joint owners


Tick Our unique formula that calculates your share of any gain or loss in the property by taking into account your total investment including what you have added towards the initial deposit and your contributions towards mortgage repayments, the costs of buying and selling and repairs/renovations.

Tick You can have Registered Legal Owners or Non-Registered Beneficial Owners (for example parents investing with children can be included in the Agreement)

Tick Calculation for working out any gain or loss from rental income (if applicable) 

Tick Mechanism for buying up a co-sharer's interest in the property if they move out 

Tick Section for stating individual contributions towards outgoings

Tick All terms explained in simple English

PLUS

Tick Mechanisms to protect you if a joint owner stops paying their share of the mortgage repayments

Tick Procedures to sell your share

Tick Procedures to deal with shock events such as death or a change in financial circumstances

Tick Procedures for dealing with property repair and/or renovation costs (including how to calculate any gain because of development and how it will be shared)

Tick Procedures to sub-let your share of the property

Tick Procedures to follow if the home sharing relationship breaks down

Tick Procedures to follow if you can't afford your mortgage repayments

 Tick Your deposit contribution is shown clearly and separately from other joint owners


Tick Our unique formula that calculates your share of any gain or loss in the property by taking into account your total investment including what you have added towards the initial deposit and your contributions towards mortgage repayments, the costs of buying and selling and repairs/renovations.

Tick You can have Registered Legal Owners or Non-Registered Beneficial Owners (for example parents investing with children can be included in the Agreement)

Tick Calculation for working out any gain or loss from rental income (if applicable) 

Tick Mechanism for buying up a co-sharer's interest in the property if they move out 

Tick Section for stating individual contributions towards outgoings

Tick All terms explained in simple English

Tick Mechanisms to protect you if a joint owner stops paying their share of the mortgage repayments

Tick Procedures to sell your share

Tick Procedures to deal with shock events such as death or a change in financial circumstances

Tick Procedures for dealing with property repair and/or renovation costs (including how to calculate any gain because of development and how it will be shared)

Tick Procedures to sub-let your share of the property

Tick Procedures to follow if the home sharing relationship breaks down

Tick Procedures to follow if you can't afford your mortgage repayments

PLUS

Tick Cohabitation house rules

Tick Inventory lists

 

The basic deed of trust suits longer term relationships where the purpose is simply to note the joint owners’ separate shares of the property and what to do when the property sells.

 

Our Silver Shared Ownership Protection is a deed of trust for joint owners of a property who want to protect more than just their initial share of the deposit. While it addresses this matter, it also focuses on what mortgage repayments you make and what contributions you put towards repairs and renovations during your ownership.

 

Best suited for friends looking for a comprehensive cohabitation agreement to set out how they’ll live with each other, a deed of trust and mechanisms to sell if the relationship breaks down.

£180 Inc VAT*

Click to find out more about the Basic Deed of Trust

£299 Inc VAT*

Click to find out more about Silver Shared Ownership Protection

£499 Inc VAT*

Click to find out more about Gold Shared Ownership Protection

* We recommend each person speaks to a solicitor to ensure they understand their obligations under the agreement before they sign it, however you can choose not to do this if you are happy to sign without legal advice.

** If you are getting a mortgage then you will need to get their authority to have an unregistered owner.


Call our team of declaration of trust specialists on 0333 344 3234 to find out what you should do if you buy your home as tenants in common.