What is Shared Ownership?
Shared Ownership is an affordable home ownership scheme which makes it easier for eligible purchasers to get on the property ladder. Buyers get a mortgage for the share they can afford, and pay rent on the remaining share.
Shared Ownership FAQsFind out more
Does Shared Ownership mean sharing with someone else?
No – this is a common misconception but the ‘shared’ aspect of the scheme simply means you’re sharing ownership of your home with a housing association.
If you decide to buy a Shared Ownership home in Surrey, you’re effectively purchasing a portion of your property. Your initial share will usually 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 in Surrey?
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 homes in Surrey?
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.
How much does Shared Ownership cost in Surrey?
Shared Ownership properties enable you to put down a smaller deposit compared to those required on the open market – buyers will usually need to put down 5% to 10% of the share that they’re buying, rather than the full market value of the home.
On a monthly basis, buyers will be required to pay their mortgage, a subsidised rent and service charge on their home, however, these repayments often work out cheaper than or equal to renting privately in the same area. Other costs to consider when buying a home include solicitor and mortgage broker fees – you can find out more about these costs on Share to Buy.
Are there Shared Ownership homes in Surrey?
Share to Buy lists thousands of Shared Ownership homes all across Surrey and beyond – including new build properties and those available through resale.
Shared Ownership is available on a variety of homes including cosy studios, stylish apartments and traditional family homes. Check out our property search tool to start looking for your new home today!
The steps to find your new Shared Ownership home
Find your home with Share to Buy
Who are Share to Buy?
Share to Buy is the leading online portal for Shared Ownership properties. Established in 2004 as the UK’s first specialist online mortgage broker for affordable home ownership products, the site has since developed into a one stop shop for first time buyers, offering the country’s largest listing of Shared Ownership homes from many of the UK’s biggest housing providers.
Why should I register with Share to Buy?
Share to Buy is the nation’s biggest and best established affordable home ownership property portal, making it the ideal website for first time buyers looking to take that first step onto the property ladder.
Using our property search tool, you can search for homes that suit your needs via filters such as location, number of bedrooms, monthly outgoings and deposit amount. You can also set up alert preferences so you’ll be notified when new properties that meet your search are announced by email.
Acting as a one stop shop for first time buyers, Share to Buy also offers handy FAQs and guides, interactive mortgage tools, mortgage broker and conveyancing panels, and live events to help potential purchasers on their home-buying journey.
Can I advertise my home on Share to Buy?
If you are a housing association or developer selling properties through Shared Ownership, Help to Buy and other affordable home ownership schemes, we can list your new build and resale homes on the Share to Buy property portal.
As well as working alongside Registered Providers, we also partner with private sellers who are looking to sell their current Shared Ownership home.
Shared Ownership Surrey - Shared Ownership Properties For Sale in Surrey - Share to Buy
For first time buyers who believe that purchasing their own home is out of reach, Shared Ownership homes in Surrey can help them to take those vital first steps on to the property ladder. Help to Buy homes in Surrey can also help potential purchasers to put down roots in an area they love, and finally find a place to call their own.
If you want to keep up to date with Shared Ownership and Help to Buy homes in Surrey, all you have to do is sign up to Share to Buy and register to receive alerts. We’ll then automatically notify you when new properties become available.
Offering the best of both worlds, the home county of Surrey offers beautiful nature and plenty of open green space, whilst ideally sitting within the London commuter belt.
The county shows a deep love and care for nature through its stunningly preserved parks and wildlife areas. But it’s not all green fields and trees here; Surrey also homes several great gig venues and is particularly well known for its contributions to the folk and metal scene. If you’re planning to dance the night away, you’ll be relieved to hear there are lots of great bars, pubs and restaurants to keep you feeling refreshed and refuelled.
For history lovers, Surrey has a fascinating past that stretches back to the days of the Romans. Even today, the county’s streets are lined with architectural influences and plenty of museums, all of which celebrate its colourful and varied past.
The transport links in Surrey are also brilliant, allowing residents to commute to the capital or just enjoy a day out in the city with ease. Not only that but its closeness to Gatwick and Heathrow airports, motorways, and other local transport options, means that whether you’re travelling in or out of the county or the country, Surrey is one of the most convenient locations possible.
Catalyst: Shared Ownership apartments available at The Folium, North London
One and two bedroom apartments available in Haringey – ideal for first time buyers First time buyers can get a glimpse of stylish North London living at the show apartment at The Folium, Catalyst’s new development in leafy Muswell Hill. Providing opportunities for first time buyers to get on to the property ladder in…
Legal & General Affordable Homes: Get on the property ladder at White City Living, West London
Modern Shared Ownership apartments available in Hammersmith & Fulham Have you been dreaming about buying your own home and getting on the property ladder in London? If you’re looking to become a first time buyer in the capital but feel like your deposit could use a boost, why not think about Shared Ownership with Legal…
Notting Hill Genesis: Local buyers get on the property ladder with Shared Ownership
First time buyers secure their oasis at Heron Quarter Becci a Senior Grants and Programmes Manager at the PRS Foundation and her partner Dan have just purchased a 30% share of a two bedroom apartment at Notting Hill Genesis’ Heron Quarter at Woodberry Down development. Already renting a one bedroom flat at the Woodberry Down…