About shared owenrship

Shared ownership

You could purchase a new-build property for as little as £41,250 with shared ownership.
It’s simple. Instead of purchasing 100% of a property up-front, you purchase a smaller share, typically 50%, and pay a reduced rent on the remaining.

For example, let’s consider a property worth £165,000…
With a standard purchase you would need a 10% deposit of £16,500 and an estimated income of £43,000.

Whereas purchasing a 50% share with shared ownership, you would need a 10% deposit of £8,250 and estimated income of £22,000.

Shared ownership can also prove more affordable than renting. Take a look at our comparison table here.

View our available properties here or take a look at our FAQ’s below to find out more!

To purchase a shared ownership property you need to be one of the following:

  • a first time buyer
  • currently renting
  • separated from a partner
  • a previous homeowner but now unable to buy a home
  • earning less than £80,000 a year
Shared ownership means you are a homeowner and you take on the responsibilities and gain all the benefits that go with owning a home. You start by purchasing part of your home under a lease. This is a legal agreement which sets out:

  • Your rights and responsibilities
  • When the rent, service and estate charges are due
  • How you can purchase additional shares
The maintenance and repairs to your home will be your responsibility. If you buy a newbuild home directly from us, the developer will fix and repair any defects for 12 months after the property was built and your home will also have a 10 year structural warranty.
So that the building is fully insured at all times, we will take out building insurance, which will be recharged to you and included in your service charge. You are responsible for insuring your own home contents.

On top of this, some properties are subject to estate costs, which are included in your rent. These cover the maintenance of roads, green areas and street lighting.

If you want to own more of your home, you can buy more shares at any point. This is known as ‘staircasing’, and you can keep doing it until you own your home outright. Once you own your home outright, you can also buy the freehold (the land your property sits on).
Just like any other homeowner, you are free to sell the share that you own to another eligible person at any time. If you decide to sell you will need to have an independent valuer set the selling price. You can then list your home with an estate agent if you want to. We will also help you by searching for a possible buyer from our waiting list.