Shared Ownership: Your pathway to homeownership with Places for People
Saving for a deposit can make owning a home feel out of reach, and for many people renting is the only option right now. Shared Ownership offers another route for eligible buyers. This guide explains how it works and what it costs.
How does Shared Ownership work?
With Shared Ownership, you buy an initial share of a home, usually between 10%-75%, typically with a mortgage and deposit. You then pay a reduced rent to a housing association on the share you do not own.
Shared Ownership homes are leasehold, which means you own the home for a fixed number of years under a lease. If your finances allow, you can buy more shares over time; this is called staircasing. The more you own, the less rent you pay.
What does Shared Ownership cost?
When you buy through Shared Ownership, you need to consider several costs:
- Deposit: This is based on the share you buy, not the full market value of the home.
- Mortgage repayments: You usually need a mortgage for the share you are buying.
- Rent: You pay rent on the share you do not own.
- Service charges: Depending on the property, you may contribute towards communal areas and building maintenance.
Looking at the full monthly cost, rather than the mortgage alone, helps you see what is affordable.
What is the best option for you?
No single option suits everyone. Private renting may be the better fit if flexibility is your priority or you are not yet ready for the financial commitments of homeownership.
Shared Ownership could be worth exploring if you want to own a home but cannot yet afford to buy outright, and you can manage the ongoing costs. Staircasing is not guaranteed to be affordable, and buying more shares involves extra costs. Property prices can also fall as well as rise, so make sure you understand your lease before you commit.
Explore your options with Places for People
Places for People create and support thriving communities across the country. Explore its homes to buy to see what could suit your budget.
Ready to take the next step? Visit the Shared Ownership hub on Share to Buy to check eligibility, compare costs and search for homes.
Watch the webinar
Places for People hosted a live webinar on Shared Ownership on Thursday 15th October, 2026, with experts explaining how the scheme works and answering questions from the audience. Missed it? Watch the recording to find out more.
