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Shared ownership staircasing question
Chickensoup
Posts: 2 Newbie
I'm looking at using shared ownership to buy my first property. I've been doing as much reading as possible but slightly confused and haven't found an answer.
Q: If I purchase on shared ownership, its for a share and on leasehold. If I then staircased to 100%, which would be the plan for this property i'ts a lifer, would it transfer to freehold or would this remain leasehold?
Hopefully the former and that it's consistent?
Q: If I purchase on shared ownership, its for a share and on leasehold. If I then staircased to 100%, which would be the plan for this property i'ts a lifer, would it transfer to freehold or would this remain leasehold?
Hopefully the former and that it's consistent?
0
Comments
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It will depend on the HA and the property.
Some properties see the freehold sold with the 100% staircase, others see the freehold retained by the HA.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
If you post details of the SO scheme you are looking at using then someone should be able to help.0
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