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How Shared Ownership works

Shared Ownership is an affordable way to buy and is designed to help you purchase your new home. With Shared Ownership you part buy and part rent a home by purchasing a share in a property and paying a reduced rent on the remaining share.

You normally start by buying between 25% and 75% of the full value, and you may, if you wish, buy further shares until you eventually own outright.

You need to raise a mortgage to purchase your share. If you have a large deposit or equity from the sale of a property, this can also be used towards purchasing your share.

We sell new build and occasionally refurbished properties, and we also refer buyers to existing shared owners who are ready to sell their share to a new buyer.

Am I eligible?

Eligibility to buy a home using Shared Ownership is governed by the Homes and Communities Agency.  In summary you need to be over 18 and resident in the UK.

When purchasing using Shared Ownership there is a maximum household income.  Your household income should be less than £80,000 (this is increased to £90,000 if you are purchasing a home in London).

Smaller deposit

Buying a share means you need a smaller mortgage and deposit than buying a property outright. This makes it a cost effective way to own your own home and ideal for first time buyers. Shared Ownership usually works out less per month than renting privately and you can enjoy the benefits of being a home owner rather than a tenant.

What does this mean?

You’ll buy a share ranging from 25% to 75%, we’ll tell you in the property listing on our website the minimum share that can be purchased.

You’ll need to be able to get a mortgage, or have savings to cover the price of the share.  You should remember that you need to pay your mortgage and rent payments each month as well as the usual household outgoings.  To help you, we’ll carry out an affordability check to make sure you won’t be stretching yourself too much financially.

Arranging a Shared Ownership mortgage

We can put you in touch with our independent mortgage advisors who specialise in Shared Ownership sales so you can be confident that you’ll get expert advice during the buying process.

Choosing a Shared Ownership solicitor

You can use a solicitor of your choosing or we can put you in touch with one of our recommended solicitors to help you purchase your new home.

Your new home

We have both brand new and pre-owned Shared Ownership homes across England, you can search for properties using the search function here.

In the future

Once you’ve moved in and you’ve settled well you might decide to buy further shares until you own the property outright or alternatively you might sell your home.  We will help you with both these options.

Guide to buying your home

For more information you can download our guide to buying your Shared Ownership home.  You can also read our frequently asked questions.

  • Do I have to share my property?

    No. Shared ownership does not mean you share the ownership of the property, or have to live with another person.

    It means you own a share of the property and pay rent on the share you don’t own to us.

    Buying a house with friends, a spouse or a partner is known as joint ownership.

  • How do I apply?

    Simply register your details with us then you’ll be able to complete an application form.

    You then simply let us know which home you would like to apply for so we can carry out additional eligibility and affordability checks.

  • Am I eligible to purchase using Shared Ownership?

    Eligibility to buy a home using Shared Ownership is governed by the Homes and Communities Agency.  In summary you need to be over 18 and resident in the UK.

    When purchasing using Shared Ownership there is a maximum household income.  Your household income should be less than £80,000 (this is increased to £90,000 if you are purchasing a home in London).

  • What is the age limit?

    There is no age limit for buying a home using Shared Ownership as long as you are over 18 years of age.

  • Is stamp duty payable?

    When you buy a share in a property through an approved shared ownership scheme, you may have to pay stamp duty. There are 2 ways to pay:

    • make a one-off payment based on the total market value of the property

    • pay any stamp duty due in stages

    If you decide to make a one-off payment up front, this is making a ‘market value election’ for stamp duty.

    If you choose to pay stamp duty in stages, you pay anything that’s due on the first sale amount. But then you don’t make any further payments until you own more than an 80% share of the property.

    You can choose which option’s best for you, depending on your circumstances.

    We are unable to give advice regarding stamp duty and you should speak to your solicitor.

  • Do I have to send you financial information?

    We do ask you to send us some financial information when you make an application for Shared Ownership.  Our Sales Advisors will assess whether you can afford to buy and sustain a Shared Ownership home.

  • What do you do with my financial information?

    We will use your information to assess your application and then destroy it as confidential waste.  For these reasons only send us copies of your documents.

  • Do I need to supply all the information at once?

    Please try to submit all your information together; this helps us speed up the approval of your application.

  • What is an affordability assessment?

    Our Sales Advisors assess whether you can afford to buy a Shared Ownership home both in the short and in the long term.

  • Why is an affordability assessment needed?

    To ensure that your Shared Ownership home purchase is as successful as it can be.

  • What are the timescales?

    We aim to let you know you have been approved to apply to reserve a property within 4 working days of you notifying us of your interest in a development.

  • How long before I can move in?

    Once you have applied and been approved you will send us your Reservation form, deposit and documentation. 

    The process usually takes an average of 12 weeks from this point.  This depends on whether the home is ready and whether the legal formalities have been complete.

  • My new home looks ready?

    While your new home may look finished, there can sometimes be a delay.

    This is usually because of additional legal procedures behind this type of house purchase. Your Sales Advisor will keep you up to date but if you have any questions you can contact us.

  • What causes delays when buying a home?

    The volume of applications, the rate at which the development is built, the weather can also affect the rate at which the development is built.

    Sometimes the legal process can take additional time to ensure the formalities are all complete.

  • Is it first come, first reserved?

    If there are more applications than there are properties a priority order comes into play to ensure that best use is made of the available properties.

  • Can my dad give me money for my deposit?

    Money can be gifted by family or friends towards your purchase.  We require this to be a gift rather than a loan.

  • Why do I need a mortgage?

    If you can obtain a mortgage you will be encouraged to do so as this will enable you to buy a larger share at the outset.

    You can contact one of our recommended mortgage advisors to obtain a Mortgage in Principle.

  • How much mortgage do I need?

    You need to be able to buy at least the minimum share at the outset.  We’ll let you know what the minimum share is that you can purchase.

    You can contact one of our recommended mortgage advisors to obtain a Mortgage in Principle.

  • How much deposit do I need?

    This depends on the full market value of the property and the size of the share you are purchasing, your mortgage lender and your credit rating.

    The benefit of shared ownership is that the deposit required will be significantly lower than if you were purchasing the property outright because you only need a deposit on the share you are purchasing.

    You should expect to have at least 5% deposit saved.  Your mortgage advisor will be able to tell you the exact amount of deposit you need.

    You can contact one of our recommended mortgage advisors to obtain a Mortgage in Principle.

  • I can't get a mortgage?

    If you are unable to obtain a mortgage you can speak to us about purchasing your share with your savings.

  • What size of property can I buy?

    You are free to purchase a home with no restrictions on the number of bedrooms determined by the household size.

  • Can I keep a pet?

    You may be able to keep a pet in your home but you must ask us first. In most circumstances you are not able to keep a cat or a dog if you share an entrance door/ hallway with other people.

    Your lease often restrict the ownership of livestock (including chickens) and you should consider the impact having pets may have on neighbouring properties. 

  • What properties are available?

    We will keep this website updated with all the properties as they become available.  You can also sign up to be notified of new properties as they become available.

  • What is the Service Charge for?

    The Service Charge covers your Buildings Insurance premium and those areas not owned by you or the council.

  • Can I buy less than the minimum share?

    We are not usually able to consider applications from customers who are unable to purchase the minimum share.

  • Can I buy more than the minimum share?

    Yes, as long as you can afford the monthly repayments required as assessed by us.

  • If a buy a bigger share does the rent payment change?

    If you buy more than the minimum share the monthly rental payment falls accordingly.

  • Does the rent go up each year?

    The rent paid to us on the share not owned by you will be reviewed periodically, usually every year, and will be increased in line with any proportionate increase in the Retail Prices Index plus an amount, typically between 0.5% and 2%.

    These rent rises will be explained to you by your solicitor.

  • Do you arrange my mortgage for me?

    No, however we recommend you contact one of our recommended mortgage advisors for mortgage advice and help making an application to a mortgage lender.

  • What is a Mortgage in Principle?

    A Mortgage in Principle (sometime called an Agreement in Principle) is confirmation from a lender that they would be willing to consider you for a mortgage of a certain amount. 

    You can contact one of our recommended mortgage advisors to obtain a Mortgage in Principle.

  • I'm an existing owner. Can I use Shared Ownership?

    Scenario 1

    If you currently live in a Shared Ownership property then yes, as long as you meet the general eligibility criteria - you will be considered along with other applicants.

    Scenario 2

    If you own your property (that isn't a Shared Ownership) then you may be eligible to purchase using the Shared Ownership scheme depending on your circumstances.

    If you feel that your existing home is no longer suitable you could ask the housing department of your local council to write to us to be considered as a special case.  You should explain to the council why you are not able to continue to live in your existing home.

    If your council agrees you are a special case then you will need to have found a buyer for your existing home.

  • Do you offer rent to buy schemes?

    We do not currently have any plans to offer a rent to buy scheme.

  • I have forgotten my password

    You can reset your password using our password reset tool.

  • I have a County Court Judgement (CCJ)

    If you have a county court judgement (CCJ) registered against you we may not be able to offer you a Shared Ownership home.  If your judgment has been satisfied (paid back) and you can provide a certificate of satisfaction from the court we may be able to reconsider your application.

  • When can I view my new home?

    If you are purchasing a brand new property from us then we'll arrange a viewing when the property is complete and it is safe to enter.  

    We sell most of our new homes "off-plan" as the homes are not ready to view at the time a reservation is being made.

  • Can I buy larger shares?

    Yes, you can buy additional shares either at the outset of your initial purchase or at a later date. The cost of the additional shares is based on the market value of the property at the time that you purchase the shares.

    If you increase your share in the property, your rent is re-calculated and reduced proportionately. Normally, you will be able to buy further shares as and when you can afford to.  That could either be at the beginning or after you’ve moved in.

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