Shared Ownership – Buying A Home From A Housing Association In Stages

If you would like to own your own home but cannot afford to buy a property outright on the open market, shared ownership maybe for you.

Shared Ownership is a scheme whereby you purchase a percentage of the property (usually between 25 - 75%), normally via a mortgage, and pay a subsidised rent on the percentage we own. You can purchase further shares at any point. This is called 'staircasing'. You will have sole occupancy so you do not have to share the property with anyone else.

What will I gain from Shared Ownership?

You will gain that first important step onto the property ladder and at the same time enjoy lower monthly payments than if you were to take up full ownership
Seek comfort in the knowledge that your money is invested in your own home

How do I qualify?

You may qualify for Shared Ownership if you cannot afford to buy a property outright but have sufficient income to obtain a mortgage on part of the property and pay rent and all other monthly outgoings.

You will need to contact your bank or Building Society for help in securing your mortgage.

Priority will be given to local nominees, people on our waiting lists and people who live or work locally to the Shared Ownership development site.

What about repairs and improvements to my home?

You will be responsible for all repairs, decoration and maintenance of the property. Remember, this is not only your home but your investment so take care to ensure that it kept to a satisfactory standard.

If you want to improve your home further then you must seek our permission to do so. You may also need to contact your mortgage lender and obtain permission with regards to building regulations etc from the local authority.

Can I buy my home outright in the future?

After one year of occupancy you can increase your share or take on the full ownership of your home at any point.

An independent valuer will decide the price of further shares based on the market value of the property at the time you decide to staircase.

Can I sell my share if I want to move?

You can sell your share to someone else subject to them meeting the Shared Ownership qualifying criteria.

How do I find out which properties are for sale?

Use the menu on the right of the page to see details of the properties we have available.

Shared ownership