• Shared Ownership Sale Of Leasehold Flat - Simultaneous Staircasing

    By Guest on 17th Jun 2015

    Hi there I bought 40% of my flat 8 years ago through a 'Shared Ownership' scheme and am now looking to sell. My housing association has given me the option to sell my share or to sell 100% by completing simultaneous stair-casing. I am thinking if I do the latter it may be quicker but am worried that the conveyancing would be more complicated and may put buyers off. Do you know how easy this is to do? Also if I do choose this option do I have to pay Stamp Duty on the property I am selling? I am very confused by the whole process and my housing association does not seem to want to give me any assistance.

    Many thanks,

  • 1 Answers

    By Guest on 18/06/2015

    Your buyers will pay the stamp duty, not you. If anything staircasing simultaneously with the sale makes the conveyancing process a little easier but really there's not much between the two. Either way it's more complicated than a standard sale and may take longer but with a decent solicitor you'll be fine. You should make the decision based on what sort of a market there is in your area for shared ownership properties versus standard 100% ownership, so speak to a couple of local agents and ask them which is likely to sell more quickly. If you sell just your share then note that the housing association will value the property and you won't be able to sell for more than their valuation.

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