I want to buy my shared ownership property outright

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    I want to buy my shared ownership property outright

    Hello,

    I joined this forum as I'm looking for some advice regarding my shared ownership lease. Apologies if this has been answered elsewhere, I used the search engine, but couldn't find anything.

    I've been living in my shared ownership home for 6 years and calculate that I could now afford to buy the other 50% so I own the property outright. However, my lease states that I can only buy up to, but not exceeding 80%. Does anybody know if this is "set in stone", or if the Housing Association may consider selling everything? I've tried contacting them regarding this and so far haven't been able to get an answer.

    Thanks for any advice.

    Simon

    #2
    Yes an RSL can limit the amount of staircasing.

    If it is a house, and the landlord is not exempt, then you can enfranchise, buy the freehold.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

    Comment


      #3
      Originally posted by leaseholdanswers View Post
      Yes an RSL can limit the amount of staircasing.

      If it is a house, and the landlord is not exempt, then you can enfranchise, buy the freehold.
      Yes, if it's a flat, the staircasing would be limited.

      Comment


        #4
        Originally posted by leaseholdanswers View Post
        Yes an RSL can limit the amount of staircasing.

        If it is a house, and the landlord is not exempt, then you can enfranchise, buy the freehold.
        Hello,

        Thanks for the reply. Yes, the property is a house (2 bed semi). Do you have any information on enfranchisement and how I can go about finding out if the landlord is exempt?

        Thanks

        Simon.

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          #5
          Have a look at lease-advice.org

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            #6
            So just to be clear:

            Flats or houses can have the stair-casing capped.

            Houses do have the option of purchasing the freehold.

            An RSL ( HA Council Almo etc) landlord may be exempt under the Act, rather than going into a detailed discussion, the first approach would be t your landlords leasehold services department

            NB purchase of the freehold may not relieve you of responsibility to pay for common services and areas
            Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

            Comment

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