Shared Ownership

When it comes to buying a property, the term “shared ownership” can be as confusing as the actual process is helpful. While you may use it to refer to a home that is owned with someone else - be it a parent, sibling, friend or even a complete stranger - in the housing industry it is used where a home is bought through a special scheme.

Shared Ownership is designed to bridge the affordability gap, in particular for first-time buyers between the mortgage they can afford to raise and the cost of a property.

Shared ownership is an alternative to renting and full ownership. It is particularly suitable for people with a regular income who want to buy their own home but cannot afford to do so.

New Build HomeBuy

These homes tend to be new development properties or oin some instances the home that you are buying could be a refurbished property. You purchase a share of your own home typically between 30% and 50% and pay rent on the part that you don't own. You can buy further shares in your home until, in most cases, you own it outright. This is called 'staircasing'.

Shared Ownserhip Resales

These are properties which have previously been purchased through New Build HomeBuy where the owner wants to sell their share and move on. When you buy one, you own the share that's for sale and pay rent on the remainder. In the same way you can 'staircase' up until you own 100%.