How can shared ownership help me?
Dreaming of owning your own home but finding market prices out of reach?
Shared Ownership could be your perfect route to homeownership. Backed by the government, this scheme makes homeownership more achievable for first-time buyers and those who don’t currently own a home.
About shared ownership
With shared ownership, you buy a portion of a property – starting from as little as 10% and up to 75% and pay a reduced rent on the rest.
It’s a smarter, more flexible way to secure a home without overstretching your budget, and a clear route to long-term homeownership.
Over time, you can increase your share through a process known as staircasing, meaning you could eventually own your home outright and stop paying rent altogether.
Available on both new-build and resale homes across England, Shared Ownership is designed for households who are ready to make a lasting move toward owning their own home.
Key features
Affordable Starting Point
You can buy as little as a 25% share under the traditional Shared Ownership scheme – or from just 10% with the updated model. Your deposit is calculated only on the share you purchase, typically between 5% and 10%, rather than the full market price of the entire property.
Reduced Rent Costs
You’ll pay rent on the remaining share at a discounted rate, helping to keep your monthly expenses manageable. This rent is generally lower than market rates and is often set at around 2.75% of the property’s value each year.
Buy More Over Time
As your finances improve, you have the option to buy additional shares, increasing your ownership until you can fully own the property.
Security and Flexibility
Shared Ownership combines the advantages of owning a home with the peace of mind of a long-term lease. Plus, you may be able to delay paying Stamp Duty Land Tax until your ownership stake reaches 80%, giving you greater financial flexibility.