Recorded Sale Price on Land Registry for Shared Ownership

Mac_Sami

I was just looking at https://www.houseprices.co.uk, and came across a development that has some shared ownership properties in, as well as "full price" flats.

The full price flats have recorded sale prices of around the £155 to £200k mark, which seems about right based on the price they're currently being marketed at.

The shared ownership flats have recorded sale prices of around £90k. A 50% share for these flats is currently being marketed at £85k.

They are new build flats. Nobody has occupied them yet.

My question is: does the Land Registry record just the price of the share that the HA are offering?

BiggaThanBen

May I ask a similar question about accuracy of LR records in your thread ?

In the block I am monitoring there are two flats, one on top of each other. Ground floor flat (Flat1) is 3-bed and 1st floor flat (Flat2) is 2-bed.

The sold price is only available for Flat1, but it is too low, and looks rather like a 2-bed's price. I bought the title register from LR website, and it says this was actually paid for Flat2 !

Is it possible for a title to be recorded with wrong property reference ?

Mac_Sami

For those who are interested, the £90k recorded price is the price the HA paid for each entire flat. Given that they're offering 50% shares at £85k i.e. still selling the flats at market value, with the possibility of staircasing to 100%, something tells me that they're making a shedload of money in the long run, through rent and further staircasing sales - not to mention just how much they're helping first time buyers by passing on that saving (not!).