Shared Ownership

Shared Ownership offers buyers the opportunity to step on to the property ladder when they may not be able to on the open market.

What is Shared Ownership?

Shared Ownership is a great way to get on to the property ladder when you can’t quite afford to buy a home on the open market. Based upon your affordability, you can buy an initial share of your home between 25% and 75% and make a small monthly payment to rent the remaining share from us.

You can purchase additional shares as and when you can afford it, this is called ‘staircasing’. There are no timescales or deadlines on when you must staircase however, the more shares you purchase, the lower your monthly rent payments become.

Who owns the remaining share?

We will retain the remaining share in the house. You will then need to pay rent to us for the remaining share of the home; however this is at an affordable price as it will only be a percentage of the full market rent.

You may also have to pay other charges such as a service charge, building insurance and management fees.

Am I eligible?

You are eligible for Shared Ownership if:

  • You have a household income of less than £80,000
  • You are a first-time buyer
  • You have no ties to any other properties on completion
  • You are unable to buy on the open market
The advantages of Shared Ownership

Shared Ownership helps you to get on to the property ladder and own your dream home without having to pay the full marketing price up front. Other benefits of the scheme include:

  • You can buy as much of the property as you can afford
  • It’s a great way to get out of the renting cycle and become a home-owner
  • You can own a high quality, new build home affordably
  • It’s a manageable way to purchase a home without needing a huge deposit
  • You own the home and can decorate it however you like
  • You can sell your home at any time and will benefit from any increase in value