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Shared Ownership homes

Have you ever dreamed of owning your own home? Something brand new that has only ever been yours? We can make it happen with Shared Ownership.

What is Shared Ownership?

Shared Ownership provides an affordable way to get onto the property ladder. Instead of buying a new home outright, you buy a share – ranging from 10%* to 75% – depending on what you can afford. We’ll own the rest, and you’ll pay a reduced rent on that share.

This means you’ll only need to secure a mortgage to the value of the share you’re purchasing and will also need a smaller deposit.

You can buy more shares over time when you can afford to; this process is known as staircasing. The more shares you own, the less rent you’ll pay on the rest of your home.

*subject to specific schemes

Am I eligible for Shared Ownership?

You can apply to buy your home with Shared Ownership if:

  • Your household earns less than £80,000 a year
  • You’re a first-time buyer
  • You’re an existing shared owner moving to another Shared Ownership home
  • You have previously owned your own home but now need support with a new purchase
  • Your income is sufficient to cover the mortgage (if applicable), rent charges and service charges
  • Your chosen Shared Ownership property is affordable and sustainable for you.

If you are successful in your application for Shared Ownership, you cannot own another home.

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What are the benefits of Shared Ownership?

  • Get on the property ladder sooner
  • Lower initial deposit and mortgage
  • Increase your ownership over time
  • Not just for first-time buyers
  • Affordable housing in desirable areas

Shared Ownership is more accessible than you think – take a look at our Frequently Asked Questions below to find out more!

FAQs

If owning your own home feels out of reach, Shared Ownership could be the perfect stepping stone. It’s designed to help you buy a new home by starting with a share that suits your budget. Check out the eligibility criteria to see if you can apply.

Yes! You can buy more shares as and when you can afford them. The more shares you buy, the less rent you’ll pay. This process is called staircasing.

You can eventually own 100% of your home, at which point you’ll stop paying rent altogether. The cost of the additional shares will depend on the current market value of your home at the time you choose to staircase.

As the homeowner, you’re responsible for repairs and maintenance inside your home. We take care of communal areas and building structure (if applicable).

If you want to make any changes to your property you may need our consent. You would need to check your lease for full details. Not all changes need our consent (for example, decorating).

Depending on the value of your home and your circumstances you may be required to pay Stamp Duty Land Tax (SDLT) on your Shared Ownership Home. You can choose to either:
  • Make a one-off payment based on the market value of the property (‘market value election’). If you increase your share after this you wont need to pay SDLT again.
  • Pay SDLT in stages – You make your first SDLT payment on the price you pay for the lease (the ‘lease premium’) if it’s above the SDLT threshold for residential rates. If the lease premium is below the threshold, you do not pay SDLT at this point – but you still have to submit a return.

If you’re a first-time buyer and buying your first share, you may be able to reduce the amount of tax you pay by claiming relief.

Yes. If you decide to sell, you’ll need to inform us. A valuation will be required, and the buyer must meet the Shared Ownership eligibility criteria. We’ll support you through the resale process.

Our friendly Sales Team is here to help, Monday to Friday, 9am to 5pm. They’ll be happy to answer your questions and guide you through the application process.

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