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What is Shared Ownership
Shared ownership is a great way to get your foot on the housing ladder if you’re unable to purchase a home on the open market.

This government backed scheme allows you to purchase between 40-75% of a home available for shared ownership, and you’ll usually pay a mortgage on the part you own.

You’ll then pay a subsidised rent of 2.75% on the remaining share of your home. This figure is reviewed annually in line with the Retail Price Index (RPI).

The deposit required for a shared ownership mortgage is a lot lower than if you were purchasing the property outright. This is because it is calculated on the initial share you are purchasing, rather than the full value of the property and can be as little as 5%.

We’ll help you decide how much you can afford to purchase, to avoid being financially stretched.


View SHARED OWNERSHIP GUIDE (.PDF)


You’ll need to meet the following criteria to qualify:

  • Have a household income of less than £80,000 per annum.
  • Unable to buy a home on the open market that satisfies your housing need.
  • You have sufficient savings for deposit and sales related costs such as stamp duty, legal fees and mortgage fees.

You won’t be able to buy a shared ownership property if:

  • You already own a home in the UK, or abroad, that you are unable or willing to sell.
  • You have any outstanding credit issues (i.e. unsatisfied defaults or County Court judgements).
  • You have had a home repossessed within 6 years prior to the application or any mortgage arrears in the past three years.

All applicants must complete a financial assessment to ensure the property is affordable.
All applicants must be registered with Help to Buy South.