Shared Ownership - The Absolute Truth 2016 | Page 4

So, it really is simple, but there are some
important details you need to be aware of:
1. Lots of shared ownership
properties are new builds
but it has been going for
30 years so there are also
lots of 2nd hand shared
ownership properties on
the market too.

80,000
shared
ownership
homes have
been sold in
the last 10
years.

2. The freehold of the
property will normally be
owned by a Housing Association, they
will be your ‘landlord’. They will grant
you a lease for the property for the
percentage you have purchased.

3. You are a leaseholder and therefore are
responsible for the property. You will
have a lease that sets out what you have
to do and what your landlord has to do
but you do need to understand this.
4. While you only own a percentage of
your home, you have the benefit of the
whole property, so you pay 100% of the
service charge for your property.

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