WHAT WE DO.

RESALES

We assist ownership in preloved properties.

Resales homes are properties that were purchased through shared ownership and the current owner is now selling their percentage share (with the remaining share owned by a housing association). Both the buyer and seller will need to instruct a conveyancer to take them through the transaction and see them to completion, which is where we come in. We will act for either the seller or the buyer, dealing with the legal transfer of the property and guiding our clients through the process.

Although the process of buying and selling a resale property is similar to other transaction types, it can be more complex as it involves a 3^rd party (the housing association) and the properties are always leasehold (even if the property is a house). However, by using a specialist conveyancer, like Owen Paulo Legal Ltd, who has vast experience in this type of transaction, it will enable a smoother process. This is an exciting time for our clients, and we want to keep this as stress-free as possible!

Please see the Resources section of the website for a guide to the Resales process and frequently asked questions and answers.

STAIRCASING

As the leaseholder of a shared ownership property, you are entitled to buy additional shares in your property and increase your equity. This process is known as ‘Staircasing’.

There are 2 types of staircasing:

• Interim staircasing - whereby you purchase an additional share but your total share will be less than 100%.
• Final Staircasing - where you purchase a share to take your ownership to 100% (or to the maximum share permitted in your lease).

The process can differ slightly, depending on your housing association and the type of property you own. Owen Paulo Legal Ltd has an experienced team dedicated to handling all staircasing transactions and related works, such as re-mortgages, transfers of equity and lease extensions.

Before proceeding we would recommend you speak to a financial advisor and your housing association to discuss your options.

WORKING FOR HOUSING ASSOCIATIONS

Our team at Owen Paulo Legal Ltd has over 20 years experience within the shared ownership market and we work for housing associations in their staircasing & lease extensions transactions.

The team is reliable, and valued by housing associations because of their friendly, prompt and expert advice.