Shared Ownership
Shared Ownership homes offer a low cost way to get on the home ownership ladder.
Did you know?
- Shared Ownership makes home ownership more affordable because you can part buy and part rent your home
- Shared Ownership schemes are managed locally by Housing Associations. Why not view our properties page to find a home where you wish to live? Click here to view our properties.
- HomeBuy is the Government's range of low cost housing schemes
- You can view the properties we have available click here.
What is Shared Ownership?
Shared Ownership is a great way into home ownership. If you can't afford to buy outright, you can part buy and part rent your home.
You might buy a 25%, 50% or 75% share in your home. You pay a small rent on the share that you don't buy. The bigger the share that you purchase, the less rent you have to pay. The monthly cost of buying a 50% share is about two-thirds of what you would pay on a mortgage if you bought the property outright. When you can afford to do so, you can buy more shares until you own your home outright.
Who can buy Shared Ownership housing?
To be eligible for Shared Ownership you will need to register with the HomeBuy Agent which covers the area where you wish to live. You can find out more about HomeBuy Agents and which one to register with by clicking on the following link:
http://www.homesandcommunities.co.uk/homebuy_agents
Shared Ownership housing schemes are usually intended for people who cannot afford to buy a suitable home in any other way. Applicants must usually be in housing need and be unable to afford outright purchase.
Also remember that you don't have to find a new housing development to be able to buy a Shared Ownership property. When shared owners want to move home, their property will either be offered to the housing association to find a buyer, or will be advertised in the local estate agents.
How can I get a mortgage to buy my Shared Ownership home?
You can contact one of our list of accredited financial advisors for a free quotation. Click here for their contact details.
Your questions answered
Download our Shared Ownership brochure below to find out more information about Shared Ownership.
How is Shared Ownership cheaper?
Because the rent you pay on the share you do not own is subsidised. The total monthly cost of Shared Ownership will generally be less than 70% of the cost of purchasing the property outright rent.
I would like to talk to someone about the Shared Ownership Scheme. Can I contact you?
We welcome enquiries. Please contact us.
How to apply?
If you are interested in buying a Guinness Home, you will need to apply with us.
