We use cookies to give you the best possible user experience on our website. By continuing to view the website, we'll assume that you are happy to receive all cookies. Don't show this message again.

Shared Ownership

Shared Ownership is for people who would like to own their own home but cannot afford to buy on the open market.

It gives first-time buyers and those that do not currently own a home the opportunity to purchase a share in a new build.

Basically, you buy a part of your home and you rent a part of it. You pay a mortgage on the share that you own and pay rent on the remaining share, and because you only need a mortgage for the share you are purchasing, the amount of money required for a deposit is a lot lower when compared to the amount that would be required when purchasing outright.

You have the option to increase your share via a process known as ‘staircasing’ and you can staircase all the way to 100%, so you then own the property outright.

Shared ownership properties are always leasehold.

Who is eligible?

Shared ownership schemes at new housing developments are done on a first come, first served basis. Applications are assessed on affordability and in accordance with the allocations policy for the particular development.

If you are considering applying for a shared ownership scheme, please check whether you are eligible using the checklist below:

  • You are 18 years of age or over
  • You are in permanent employment
  • You are unable to afford a suitable home on the open market
  • You can provide an in principle mortgage offer from a reputable mortgage lender
  • You are not currently a homeowner (subject to individual circumstances)
  • Your total annual household income does not exceed £60,000

Visit our Find a home page to see the shared ownership properties we have on the market now.

If you’d like to know more about purchasing a home through a shared ownership scheme, our team will be happy to help.
Get in touch