Joint Ownership
Introduction to Joint Ownership
Joint ownership of property is quite simply where more than one person owns property with another. However, there are important details. First, there are different methods of using Joint Ownership to get on the property ladder- such as:
- Shared Ownership, where you part buy / part rent off a housing association;
- 'share to buy', for buying property with friends, or buying property with family;
- joint mortgages - couples or partners buying a home together.
Secondly, there are different legal forms of joint ownership.
Got a legal query on joint mortgages?
Contact our panel of solicitors with specialist knowledge of joint ownership cases, such as friends and family members buying together.
Forms of joint ownership in law
There are two main types of joint ownership in law, joint tenants and tenants in common.
- Joint tenants: neither party can sell without the other's agreement. If one party dies, the other automatically inherits the other's share. This is ideally suited to married couples or partners buying together who are in a long-term relationship.
- Tenants-in-common: each party can dispose of his or her share, either whilst alive or through a will. This is more appropriate for friends buying a property together, where they do not intend to live together as a couple.
Next steps
If you have had an offer accepted on a specific property or are looking at properties in earnest you may wish to submit a no fee, no-obligation agreement in principle application to see how we could assist. Alternatively, if you have any queries on the legal side of shared mortgages, please contact our partner solicitors who specialise in joint ownership legal services. There is no charge for sending an initial query and no obligation to use our partner solicitors.
Latest News
100% shared ownership mortgages and great 90% open market deals
20th January 2012
We now have access to 100% shared ownership mortgages. Customers can access zero deposit mortgages for part buy part rent but they must have no adverse credit history. More details here. We have also cut our open market 90% exclusive discount rate with no fees or early repayment charges. Read about our 10% deposit option for young professionals and first time buyers.
Shared ownership 2012
9th January 2012
We look forward to an exciting year for first time buyers in 2012. At Share to buy, we are optimistic that 2012 will bring new products and opportunities in shared ownership and affordable housing. As always, we will reguarly be adding properties tn our shared ownership property website. We also hope to bring forward exciting new mortgages for part buy part rent and open market first time buyer 90% mortgages.
For more information go to the share to buy home page.
Tools
- Search: search for shared ownership properties; search for shared ownership solicitors.
- Calculators: shared ownership mortgage calculator; open market calculator.
- Apply: shared ownership mortgages; agreement in principle
