Our shared ownership scheme
Why buy on shared ownership?
Shared ownership is a great alternative for those on a regular income who want to buy a home but cannot afford to buy outright.
Shared ownership works by allowing buyers to get a mortgage to purchase a percentage of a property and then pay rent on the remaining share. You are able to:
- own part of your home and pay rent on the other part
- have a monthly mortgage and rent which can work out cheaper than buying outright, and sometimes not much more than renting
- buy more shares if you want to
- only buy what you can afford so you don’t overstretch yourself financially
Who is eligible?
Almost anyone can apply to become a shared owner, as long as:
- you are able to afford the cost of the rent and the mortgage
- your joint household income is less than £80,000
- you are able to secure a mortgage with an approved lender
- you have a minimum cash deposit between 5% and 10%, depending on the lender of the mortgage
We give priority to:
- Ministry of Defence Personnel or bereaved partners.
If you are not sure if you qualify to become a shared owner, please call us free on 0800 0421 800 and we’ll be able to tell you.
For more information download our step by step guide here.
As a recipient of HCA funding we are obliged to publish spend over £500 on development schemes we are progressing.To see these details, follow this link.