Shared Ownership is designed for people who cannot afford to buy a property outright on the open market.
Under shared ownership the purchaser buys a share of a property and then rents the remainder. The initial share bought is normally between 25 and 50 per cent of the property value. You will be the owner of this share of the property and will pay an affordable rent on the remaining share of the property, which continues to be owned by us.
The share you purchase is usually funded by a mortgage, which you will need to arrange with a bank or building society. Although you have not bought the property outright you will have all the normal rights and responsibilities of home ownership.
Shared Ownership enables you to buy in stages. After twelve months you can increase the share you own – this is usually called staircasing - or you can stay with your original share. It's your choice!
To view our leaflets on Shared Ownership, please follow the link below.