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Shared property: terms and coditions

What are the terms and conditions for buying a shared property? What are it's positive points as well as negative ones?

Asked on Feb 18 2012, General in Cambridge | Report content

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  • If you mean shared ownership with a registered landlord then there are complications with any mortgage. You will probably have a lease over that part you don't own. The lender will need to be happy with the terms of the lease and the landlord will need to be happy with the lender. All work your lawyer should do. You may be entitiled to buy the whole lot - or you may not. There may also be Stamp Duty implications. From a lawyer's point of view shared ownership places are leaseholds sent from hell.

    Answered on Feb 18 2012, Report content

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