Shared Ownership % Increments

smartest_smarty

Hello all,

Is it possible to buy shared ownership properties in 1% increments, or does it have to be 5% increments?

For example.

56%, 57%, 58%, 59%

or

55%, 60%, 65%, 70%

FutureGirl

I think it depends. Some I've seen only allow 10% minimum at a time.

marksoton

smartest_smarty wrote: »

Hello all,

Is it possible to buy shared ownership properties in 1% increments, or does it have to be 5% increments?

For example.

56%, 57%, 58%, 59%

or

55%, 60%, 65%, 70%

Even if allowed 1% increments would be expensive legals wise.

Elfbert

It may depend on the HA, but I know mine are 10% at a time, minimum.

It would be very expensive in fees to only get a 1% increase each time!

Richard_Webster

It is unlikely that you can buy in 1% increments, but it will depend on what your lease says, and your solicitor should have explained this to you when you bought. Fish out his written report about the lease.

Pipz

Whilst I cannot recall the minimum staircase increment - I know my lease dictates 100% must be reached in no more than 4 transactions. Depending on what initial share was purchased an individual is limited accordingly.

J_i_m

Which ever way you look at it 1% increments do not seem to be a cost effective way of stair casing.

If the property value increases as is most likely then every 1% share increase would cost more and that's before you consider legal fees.

Just seems an illogical way to go about it.