How Shared Ownership works

We partner with you to share the cost of buying your own home – you pay for the part you can afford and we’ll pay for the part that’s left.

It’s an opportunity to buy the home that’s right for you without needing the large deposit or the mortgage that goes with it.

Shared Ownership could be for you if:

  • You are over the age of 18
  • Your household income is less than £80,000
  • You don’t already own a home at the time of buying your Shared Ownership property

How does it work?

You buy a share in the home that’s right for you. That could be from 10% initially, but it's typically between 25% and 40%. You’ll pay a reduced rent on the share that we own and a monthly service charge towards the upkeep of communal areas and/or shared outdoor spaces.

As your finances allow, you can buy further shares in your home as and when you choose, meaning you’ll own more and pay less rent.

Typically, you’ll only need a deposit that is 5% of the value of your share, rather than of the total property value, meaning you could get moving sooner than you thought.

When you’re ready to start your Shared Ownership journey, there are seven simple steps to finding your new home. You can read the detail of each step of the journey here.