Shared ownership is a great opportunity to get onto the property ladder. It’s a government-funded scheme designed to help people who can’t afford to buy a home in the open market. It enables you to buy a share of a property that you can afford, usually between 25% - 75%, and pay us rent at a level below market value for the rest. You can usually increase the share you own (called staircasing) until you own all of your home and no longer pay any rent. However some properties do have restricted staircasing so make sure you check with us first.
A deposit is required for shared ownership – but it’s only a percentage of the share of the property being bought. For example: if the selling price of the home is £150,000 and the share you wish to purchase is 25% (£37,500), most lenders will now ask for a deposit of at least 5%.
We may be able to help you take the next step towards purchasing a home. Click on the links below to find out whether Shared Ownership is for you.