Shared Ownership

Housing Associations, with funding from the government via the Housing Corporation, introduced Shared Ownership schemes to help people to take steps towards full owner occupation.

By choosing to purchase a share of a property (typically between 30% and 50%) you will pay a subsidised rent for the remaining share together with a monthly service charge. Your combined mortgage payments and rent should be less than if you brought the full value of the property. You can, subject to affordability, buy a larger share of the property and decrease the rent you pay each month.

Who Is Eligible?

Firstly, you must not own any part of a property already, and be intending to live in the Shared Ownership property that you purchase. e.g., a first-time buyer.

There are two categories of Shared Ownership available:

  • Shared Ownership available to keyworkers (examples of these include nurses, The Police, teachers, social workers, prison officers, etc.)
  • Shared Ownership available to applicants who have been nominated by their local Help to Buy Agent. Priority will be given to existing Council tenants, and Housing Association tenants living within the borough, although in most boroughs the Council will also hold a list of local applicants eligible for Shared Ownership. It is a good idea to check with your local Council and apply if needed.

Register with your local Help to Buy agent