Shared Ownership - All you need to know

How it works is that you buy a share in the property (usually between 25% and 75%) and pay a rent for the remaining share you have not bought to a housing association, along with a service charge. You can buy the share either with full cash or with a mortgage and a deposit.

All buyers have to have successfully registered with the regional homebuy scheme. Click Here to be redirected to the site for registration.

The purchaser has the option to increase their share during their time in the property via a process known as ‘staircasing’, and in most cases can staircase all the way to 100%. In this instance, the shared owner will no longer pay any rent, just their mortgage along with any service charges and ground rent (if an apartment).

If you require a mortgage to purchase a shared ownership property, our in-house mortgage advisers have helped hundreds of clients buy their homes and have worked with a number of local housing associations. For best advice from a whole of market mortgage advisor, click here.