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.