Shared ownership is a home purchasing scheme that lets you become a homeowner by buying a share in a new or resale property. Once you’ve bought part of your home, you continue to pay rent on the remaining share.
It's a low-cost, affordable government initiative designed to help people get on the property ladder that blends buying with renting.
How much of a share can I buy?
Most of our shared ownership buyers get a mortgage to fund a share of between 10% and 75%. If you decided to buy 40%, then you’d pay rent on the remaining 60% – it’s that simple.
How to buy more shares in your home
If you like, you can continue to buy additional shares in your home to increase how much you own.
This is a a process known as ‘staircasing’.
You may be able to buy up to 100% of your home through staircasing, though in some areas this might be restricted.
What are the benefits of shared ownership?
Shared ownership schemes are an affordable, accessible way for someone to become a homeowner even if they can’t afford the mortgage needed to buy a property outright.
You can start by purchasing a share from as little as 10%, and the deposit needed for a mortgage on that share can be as little as 5%. The rent on the remaining portion of the property may also be less than the rent charged on the open market.
Can anyone buy through shared ownership?
Most people can buy through shared ownership – don’t believe the myth that it’s only for first-time buyers or key workers!
However, there are some rules.
- You’ll need a deposit of between 5-10% of the share you’re buying
- Your household income should be below £80,000
- It needs to be your only home – so you’re either a first-time buyer, or someone who used to own a home but doesn’t anymore
View our shared ownership homes
We offer a range of both new and resale homes available to buy with shared ownership on our dedicated Homemade Homes by Accent site.
Start browsing now to see the range of properties on offer.
