What is Shared Ownership?

Shared Ownership is an affordable home ownership scheme which makes it easier for first time buyers to get on the property ladder. Buyers purchase a share of property, and pay rent on the remaining share. Shared Ownership is a great way for first time buyers to get on the property ladder, as it can dramatically reduce the amount required for a deposit. Shared Ownership has helped thousands of first time buyers onto the property ladder in England.

Share to Buy is a national Shared Ownership property portal, also listing Help to Buy, rental and other affordable home ownership properties. You can search for properties, use our helpful guides and FAQs to get all the info you need and we can even help you search for mortgages and conveyancing solicitors.

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Does Shares Ownership mean sharing with someone else?
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No – this is a common misconception but the ‘shared’ aspect of the scheme is because you’re sharing ownership of your home with a housing association.

If you decided to buy a Shared Ownership home, you’re effectively purchasing a portion of your property. Your initial share will be between 25% to 75%, paying a mortgage on the part that you own and a below market value rent on the remaining share.

Can I ever fully own a Shared Ownership home?
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Yes – Shared Owners can choose to buy additional shares in their property by ‘staircasing’.

When buying a Shared Ownership home, you will initially purchase a minimum percentage somewhere between 25% to 75%. Down the line, if you find that your financial circumstances have changed, buyers will have the option to buy more shares.

If you choose to buy a higher percentage, your mortgage repayments will increase while the rent you pay will decrease. In the majority of cases there aren’t any restrictions and you can buy 100% of your home – in this instance, you would become the outright owner.

Do I meet the eligibility criteria for Shared Ownership?
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As a home-buying product aimed at helping those who can’t afford to purchase a property on the open market, there are certain requirements that buyers will need to meet to be considered eligible for Shared Ownership.

For example, there are caps on household income which means that you must earn less than £80,000 to be eligible for the scheme – or less than £90,000 if you would like to buy a home in London. The criteria also states that buyers must be at least 18 years of age and do not own another property either in the UK or abroad.