Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Portside Village

by Thirteen Group

Middlesbrough, North Yorkshire, TS6 9QH

From £247,500 for a 10% share
(From £2,475,000 Full Market Value)

Welcome to Portside Village, a vibrant new community in Middlesbrough, ideally located just three miles from the town centre with excellent local amenities nearby. Enjoy easy access to the stunning North Yorkshire coast and North York Moors from a selection of energy-efficient 3 and 4-bedroom homes set amongst attractive green open spaces. We're delighted to offer a range of 3 and 4-bedroom Shared Ownership homes, exclusively built by 5-star housebuilder Miller Homes. Please be advised that the internal images displayed for the Lockton are taken from an alternative development and may differ slightly from the Lockton at Portside Village.

Shared ownership

Orbit Homes at St James Gate

by Orbit Homes

Bulkington, Warwickshire, CV12 9NJ

2 & 3 bedroom houses

£24,000 - £35,500 for a 10% share
(£240,000 - £355,000 Full Market Value)

We are pleased to be offering new Shared Ownership homes at Orbit Homes at St James Gate, a new development located in the Warwickshire village of Bulkington, not far from Bedworth and Nuneaton. Perfect for those who prefer a quieter location but with easy access to surrounding towns. We have a range of 2 and 3-bed homes for sale, all built to our high specification and available to buy with Shared Ownership, the more affordable way to buy a new home. Ideal for first time buyers and families alike.

Shared ownership

Trilogy

by Auxesia Homes

Tyldesley, Greater Manchester, M29 8PR

From £135,000 for a 50% share
(From £270,000 Full Market Value)

Trilogy is an exceptional development located in Mosley Common, offering a selection of beautifully designed 2 and 3 bedroom homes, perfect for modern living. Set in the heart of Mosley Common, Trilogy is a vibrant, modern development that blends high quality homes with everyday convenience and long-term value. Trilogy's location in Mosley Common puts everything you need within easy reach. You'll find amenities on the doorstep, from a medical centre to the Parr Bridge hub's Starbucks, Lidl and Snap Fitness 24/7 gym. Just two miles away Ellesmere Shopping Centre has a Tesco Extra, high-street names and food court all in a spacious mall setting. Multiple award-winner Lugana Italian is a stroll away and The King William a welcoming local, with large garden for summer, while the cosy Farmhouse Kitchen serves up slow-roast carveries, Yorkshire Pudding wraps, or a coffee and fresh-baked pastry in a five-minute drive. Mosley Common-a well-connected neighbourhood with a friendly, village-like feel. The area is popular with families thanks to its good local schools, including St John's CE Primary and nearby Boothstown Methodist Primary. For older students, there are several secondary schools and colleges within easy reach, including those in Walkden, Worsley, and Leigh. Local nurseries and early years care are also available, making it a convenient location for growing families. Mosley Common benefits from regular community events, local markets, and nearby attractions in Tyldesley and Worsley, fostering a strong sense of belonging. It's a place where neighbours look out for one another, and community spirit is part of everyday life. Prices start from £135,000 which represents a 50% share of the property. Rent would therefore be payable on the outstanding 50% share, set at 2.75% per annum. Based on a 50% share, rent would equate to an additional £309.38 per month on top of any required mortgage. You may purchase up to 75% of the total property price upfront.

Shared ownership

How does Shared ownership work?

Shared ownership allows you to buy a share of a new house and pay rent on the remaining part. It is a government-backed incentive scheme, primarily aimed at helping first time buyers onto the property ladder. You can also use it to buy a bigger home than you can afford on the open market.

The percentage you can purchase may be different depending on where you buy the home:

In England, you can buy shares of between 10% and 75% of the full market value
In Scotland, you can buy a 25%, 50% or 75% share
In Wales, you can buy shares of between 25 and 75% of what the home is worth

Shared ownership is also known as ‘part-buy, part-rent’.

You will purchase your shared ownership property via a housing association or council. The home will be a new build or a re-sale of an existing shared ownership property, of which you’ll need to purchase the same percentage of shares as the existing owner, or more.

You will need a deposit and a mortgage on your share of the property that you are buying. The remaining share is owned by the housing association or council, and you will pay rent comprising up to 3% of this amount.

Although the housing association may have shares of up to 90% in your home, you will become the owner of the lease. As the leaseholder, you will be responsible for repairs inside the property and the housing association will take care of the outside.

To cover any costs that might be necessary for outside work, you will need to pay a service charge, usually paid monthly. It is a good idea to find out how much the service charge is and factor that into all monthly outgoings before you agree to buy.

Shared ownership eligibility

In England, this scheme is available to those in a household with a combined income of less than £80,000 a year (or £90,000 in London), and you are unable to afford a deposit and mortgage payments on a suitable property for you and your family. In Wales, you must have a combined income of less than £60,000.

There are other criteria you must meet, such as:

being a first time buyer, or
if you used to own a home but can no longer afford to buy outright, or
you want to move from one shared ownership property to another, or
you're setting up a new household, for example after a relationship breakdown, or
you currently own a home, and wish to move but cannot afford to buy outright.

You will also need to have no outstanding credit issues, so make sure you get your finances in order before you apply.

Criteria varies by country, so be sure to check before applying.

A development of Shared Ownership homes in England

What is Staircasing in Shared ownership?

You can buy additional shares of your home, usually in increments of 10%, until you own the majority or all of your home. Some older leases set the minimum amount at 25%, and newer ones may allow you to buy as little as 5% at a time. There are some instances where you may be able to buy 1% shares.

This process is called staircasing and allows you to own more of your home as you earn more money or can afford a bigger mortgage. Each time you wish to purchase more shares, these will be based on the value of the home at the time of buying the shares, and not the value of your home when you first bought it.

You will need to pay for a professional valuation of your property to determine the value of the shares before you can buy them. Buying more shares in your home will also mean paying less rent.

Things to consider before buying a Shared ownership home

There are other factors which may impact your decision on whether shared ownership is right for you:

You will still need a deposit for the mortgage portion of your home, usually between 5% and 10% of the value of the mortgage.
All usual moving fees apply including surveys, stamp duty and legal costs.
If you’re aged 55 or over, you may be eligible for Older People’s Shared ownership (OPSO) but bear in mind, you will only be able to own up to 75% of your home.
If you are a key worker, then a percentage of properties through housing associations will be allocated to those who work for the NHS, police, local authorities, Ministry of Defence and many more. Ask the housing association for more information.

Useful links

Find out more about shared ownership in England

Find out more about shared ownership in Scotland

Find out more about shared ownership in Wales

Shared ownership providers

The following housing associations and developers have shared ownership properties available throughout the UK which you can enquire via this website: