With Shared Ownership, part of the Help to Buy Scheme, you can buy a newly-built home or an existing one through housing associations’ resale programmes. If you need to take out a mortgage to pay for your share of the home’s purchase price, we can help you find a lender and guide through the application process.
It’s not uncommon to be unable to afford the mortgage on 100% of a home these days. The government’s Shared Ownership scheme gives you the chance to buy a share of your home – between 10% and 75% of the home’s value - and pay rent on the remaining share. You could even buy bigger shares when you can afford it.
Shared Ownership At A Glance
- The property will be leasehold
- Property can be a house or a flat
- You can purchase between 25% and 75% of the property value
- Rent will be payable to the Housing Association on the remaining share
- Service charges could be payable in addition to the rent
- You will also need to apply to the Housing Association
- You can increase your share in the property through ‘staircasing’
Eligibility
- Your household should earn £80,000 a year or less or £90,000 a year or less in London
- You are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move
Ready to talk through your needs?
BOOK A 20-MINUTE PHONE CONSULTATION
