• Shared Ownership Property, One Party Wants To Leave. What Are The Legal Requirements And Do I Need A Solicitor?

    By Guest on 23rd Nov 2017

    Hi, my sister and I have a 40% stake in a shared ownership property (ie. 60% owned by the HA) and I would like to transfer sole ownership of our 40% to my sister and remove my name from the mortgage. This is so I can apply for a mortgage myself, without having the previous mortgage counted towards my borrowing (and also to avoid having to pay the increased stamp duty for a second property). She has been assessed and confirmed as affordable to pay the mortgage and rent by herself. Do I need to instruct a solicitor for this arrangement and how much does it typically cost? Thanks

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