Shared Ownership

Special schemes

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If you can’t afford all of the deposit and mortgage payments for a home that meets your needs, Shared Ownership offers you the chance to buy an initial share of a home worth between 10% and 75% of its market value. You will pay rent to the housing provider on the rest.

You can buy more shares in your home in the future, as and when you can afford to do so. This is known as ‘staircasing’. If you buy more shares, you’ll pay less rent. The amount of rent you pay will be based on the size of the share of the home you have not bought.

In April 2021, the government launched a new model of Shared Ownership. As part of the new model, we have :

Introduced a 10-year period during which your housing provider will be required to support you with the cost of essential maintenance and repairs to your home
Lowered the size of the minimum share you can purchase through staircasing from 10% of a property’s market value to 5%
Introduced a new form of staircasing that allows you to purchase an extra 1% of your home every year
Provided you with more control over when you sell your home.

New model Shared Ownership homes have already come onto the market. However, old model Shared Ownership homes are still available. As a result, it is important to check which model you are applying for.

Am I eligible?

In April 2021, the government launched a new model of Shared Ownership. As part of the new model, we have :

With Shared Ownership you can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold.

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