Also known as part buy, part rent - allows you to purchase a share of a home
How does it work?
Once you have been approved to purchase with us - you buy a percentage, and pay a below-market-value rent on the rest, which is owned by the housing association — but you are living there, you decorate it, and you decide when to sell.
Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it outright.
The share you buy is confirmed by us and is based on your affordability. We take into consideration the property price, your earnings, your savings and your monthly outgoings. You will be required to obtain a mortgage or use savings (depending upon your circumstances) in order to purchase the share.
Shares usually start at 25%, increasing in 5% increments up to an initial maximum of 75% (80% on rural schemes).
To ensure our properties are priced fairly, all of our valuations are carried out by RICS surveyors.
The rent you pay is calculated on the share that you do not own.
On some sites a service charge may also be payable to cover the costs of things such as communal landscaping, cleaning, lighting, and lift maintenance.
What will you own?
You'll own a share of the property on a leasehold basis, the standard length of which is 125 years.
Search for a property using our Property Search tool to view all our available properties. Further details of what's included is contained within each listing. Please call us for further information.
In order to purchase a Shared Ownership home you must be qualified by your local Help to Buy agent.
New model for shared ownership.
You may be aware that there are some changes to the shared ownership model which launched in 2022.
The developments featuring this model of the shared ownership scheme will be clearly marked on our website.
Learn more about the new model here.
Shared owners and the Right to Buy discount
Shared owners are not eligible for the Right to Buy discount as this is only available to local authority tenants in rented accommodation that meet the various applicant and property criteria or, in certain circumstances, former local authority tenants through the Preserved Right to Buy.
This is set out in the Government's Right to Buy information websites