An Introduction to Shared Ownership

Stepping into a new home that belongs to you can be one of the best feelings in the world and with Shared Ownership, you might be able to have that feeling sooner than you think!

Shared Ownership is a way to buy a share in a home now with the option to buy more of it in the future. You pay a rent on the share of the home that you don’t own.

Shared Ownership is a popular scheme for people who can’t afford to buy a home on the open market. This is a common position to be in and our Shared Ownership customers are of varying ages and from all walks of life, with many being first time buyers in their early twenties and thirties, while some are looking to step back onto the property market in their forties through to seventies.

Initially, you can purchase the share of a home that you can afford, usually between 25-75% and then you’ll pay rent on the other share. On some newer Shared Ownership homes, you can buy from as little as 10% of a home, if this is the share level that’s affordable to you subject to eligibility checks and our approval.

Click here to download a document which includes all key information about the latest shared ownership model.

You’ll need a minimum level of income and savings, the amount will be determined by the value of the home you want to buy, your personal circumstances,  and your lenders requirements,  but depending on which lender you use, the deposit can be as little as 5% of the share value. If you want to see what you could afford, why not try our affordability calculator? 

New Shared Ownership homes are built to the great quality and design you’d expect and we’ll make sure each property is of the highest standard before it is sold to you. This means you can just move in and settle in “” without the stress and worry of repairs and renovations. New homes also come with a ten year warranty, to protect you should the worst happen!

It’s also important for you to know that the Shared Ownership model is backed by the Government, so you can feel comfortable and secure in buying a share in a home now, with the option to buy more of it in the future.