Tell me about Shared Ownership

The idea really is a simple one. You buy a share in a home (typically between 25% and 75%) and pay a rent for the share you don't purchase. This means you don't need to save as much for a deposit and monthly costs are lower than buying a home outright. You may also find that the monthly costs are cheaper than renting a home privately.

Shared ownership also gives you flexibility and allows you to buy more shares in your home as and when you can afford to do so. In the majority of cases you can eventually own 100% and pay no more rent.

The unpurchased share of your home will normally be owned by a housing association who will be your 'landlord'. And, as you will be the home owner you are responsible for all the repairs inside and outside of your home. However, if there are any communal areas that need repair then these are covered by your service charge payments.

Buying a home is one of the biggest things you will ever do so you need to go into it with your eyes wide open! So, to help we have written some answers to questions we frequently get asked…just follow the link.

...or register with us now, and start searching for your new home. Our unique 'affordability' search helps you find homes that are suitable for you and to your budget.

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Frequently Asked Questions