First Steps Scheme

Shared ownership and shared equity in London

In February 2011 the Government's Homes and Communities Agency (HCA) made the following announcement in relation to affordable housing in London:

• As of April 2011, London will launch "First Steps" as the brand name for affordable homeownership within London. Shared equity will be known as "First Steps Equity Loans" (i.e. the London equivalent of Homebuy Direct) and "First Steps Shared Ownership" (the London equivalent of New Build Homebuy). There will be no difference in documentation or scheme dynamics between the London products and the current and HCA Product offer.
• In addition, from April 2012 the income cap for people purchasing homes with three or more bedrooms will be increased in London to £74,000. For all other room sizes and for single people the cap will remain at £60,000.

The Mayor of London's 'First Steps' scheme

The above changes are coming about as part of the transfer of power for housing in London from central Government to the Mayor of London within the Localism Bill. 'First steps' is essentially the Mayor's equivalent of the national shared ownership/affordable housing schemes.

Share to buy will provide further information on First Steps shared ownership and First Steps shared equity as and when the Mayor's office make it available. In the meantime, you can find shared ownership properties for sale in London under the part buy part rent scheme on our affordable homes property website.

About Share to buy ltd – making housing affordable

Share to buy is dedicated to making affordable housing truly accessible online. At sharetobuy.com you can find affordable homes for sale and information on how to buy them. All the shared ownership properties we display come with a special budget tool to show you the potential monthly cost and required deposit. We also have an in-house mortgage team with huge experience in arranging mortgages for shared ownership including part buy part rent and shared equity, as well as joint mortgages for friends and family members. Finally, we are proud to offer our exclusive open market fee-free joint mortgages from Britannia. For all mortgages we arrange, we donate £10 towards helping homeless people. Register below to be kept up to date on our services, or explore our site using the Tools box beneath.

Shared Ownership Case Studies

Shared ownership in Northampton

Shared ownership in Islington, London

Latest News

Shared ownership properties for sale

16th May 2012

Are you looking for properties for sale through the shared ownership scheme? These are homes where you part buy part rent, meaning that your initial deposit and potentially your monthly payments are somewhat lower than in a normal house purchase. Look no further! We have shared ownership  houses and flats available on the part buy scheme across England. Search our property portal or register for alerts.

Firstbuy shared equity houses in Greater Manchester

16th March 2012

This is your chance to buy a share in a brand new 2, 3 or even 4 bedroom  house and yet own the whole thing from the outset. These lovely houses in Hyde, Manchester are available on the Firstbuy scheme, a Government sponsored shared equity affordable housing scheme that means you can put down a deposit starting from as little as £5,600. More detail here on the 2 bed house, 3 bed house and 4 bed house.

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Tools

• Search: search for shared ownership properties; search for shared ownership mortgages; search for shared ownership solicitors.
• Calculators: shared ownership mortgage calculator; staircasing calculator; open market calculator.
• Apply: shared ownership mortgages; agreement in principle