Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Meadowcroft Farm

by Midland Heart Housing Association

Nuneaton, Warwickshire, CV11 6YW

2 & 3 bedroom houses

£78,750 - £98,000 for a 35% share
(£225,000 - £280,000 Full Market Value)

Affordable Homes - Exclusive to Midland Heart A selection of Brand New 2 & 3 Bedroom Houses available to buy on Shared Ownership. These properties are located on a new development on the desirable north eastern edge of Nuneaton, close to the A5. The location offers easy access to the A5 & M69. Nearby Nuneaton and Hinckley offer local amenities, shops & restaurants. • 2 Bedroom Houses from £78,750 for a 35% share • 3 Bedroom Semi-detached Houses £98,000 for a 35% share • Option to buy more shares to own 100% of the property in the future Our homes come with an impressive specification as standard including flooring/carpets throughout, modern fitted kitchens with oven & hob, a private garden and parking. The properties are well positioned for Nuneaton Town Centre (3.3 miles) and Hinckley Town Centre (3.5 miles). The location offers easy access the A5 & M69. Nearby Nuneaton and Hinckley offer local amenities, shops & restaurants. Prices 2 Bedroom from £225,000 (100%) 35% share = £78,750 Rent = £335.16 3 Bedroom £280,000 (100%) 35% share = £98,000 Rent = £417.08 Plus the following monthly charges: Management Charge: £22.00 Buildings Insurance: 2 bed £17.30; 3 bed £19.76 Estate Charge: £5.53 Shared Ownership enables you to buy a share of your home and pay rent on the remaining share. The share you can buy ranges between 25% and 75%, depending on what you can afford. This means you'll need a smaller mortgage and deposit to get you started. Once you've brought your new home you can decide to buy more shares in the property. The more shares you buy, the less rent you'll pay. You can keep doing this until you own 100% of your property. The Price advertised is for our target share of 35% and is for illustration purposes only (to give an indication of the cost of purchase, rent, etc); it is not the minimum or maximum that is available for purchase. Other shares are available upon request & will be based on affordability, proceed ability & sustainability. Buyers will be considered on first come first served basis (assuming affordability, proceed ability & sustainability checks are met). Buyers need to demonstrate maximum affordability which will be determined via a Mortgage advisor prior to any agreed sale. Amount advertised is subject to change. An additional monthly rental charge applies that includes rent, buildings insurance, estate and management charge but excludes any mortgage payment. ^Images/photographs shown are for illustrative purposes only & simply represent a typical Midland Heart property.

Shared ownership

ICON at Burnt Oak

by Sovereign Network Group

Edgware, Greater London, HA8

2 bedroom apartments

£107,500 for a 25% share
£430,000 Full Market Value

We’d love to see you at our Open Day at ICON on 28th of February — don’t miss out! 90% Reserved! A collection of 2 bedroom high-quality Shared Ownership apartments in Edgware. Ready to move into! To support you, we’re offering up to £1,500 towards legal fees and mortgage advisor costs when you use our recommended solicitors and independent financial advisor (IFA). ICON is located to the south of Burnt Oak Station in the London Borough of Barnet and is situated a short walk from the historic Watling Avenue and Burnt Oak Broadway interchange. Just moments from an array of local shops and handy convenience stores. Be part of the wider community with schools, dental and doctor surgeries, places to worship and open spaces. Living at ICON you will also have easy access to Barnet's wide collection of parks and open spaces. Silk Stream Park is within a short 5 minutes' walk from your new home. This is a large open space with recreation facilities and the Silk Stream water way running through it. This green area leads directly into Montrose Playing field, which is another extensive open park land. The new homes at Icon are available to purchase on a Shared Ownership basis, offering a perfect opportunity for local people to get a step on the property ladder. The Shared Ownership scheme aims to help those who might not otherwise be able to get into home ownership. At Icon, Shared Ownership gives you the opportunity to buy a share of your new home, starting at 25% or more if you can afford it. The rest is owned by Network Homes and you pay a subsidised rent on this portion in addition to your own mortgage. You will also need to have savings to cover any deposit required by your mortgage lender and the costs involved in moving.

Shared ownership

Collaton Park

by Coln Signature Homes

Newton Ferrers, Devon, PL8 2PF

1 & 2 bedroom bungalows

£191,250 - £266,250 for a 75% share
£255,000 - £355,000 Full Market Value

Collaton Park is a visionary new community set in the heart of the South Hams, seamlessly blending sustainable, design-led homes with the breathtaking countryside that surrounds it. Offering a rare combination of contemporary living and traditional village charm, this exceptional development is more than just a collection of homes - it’s a thriving, inclusive community where residents can truly feel connected. Every aspect of Collaton Park has been carefully considered to enhance both lifestyle and well-being, from energy-efficient homes designed with modern living in mind to thoughtfully planned green spaces that celebrate the natural beauty of the South Hams landscape. The Chestnut is one of our Horizon properties, exclusively available for those over 55 years old. Collaton Park offers two types of Horizon properties, The Chestnut and the Hawthorn. The Chestnut is a single storey one bedroom home while The Hawthorne is a two bedroom home set over two floors. Both are designed with low maintenance in mind and are perfect for those looking to downsize to something more manageable. We welcome you along to take a look around, we have a four bedroom detached show home and three bedroom detached view home available to view Wednesday to Saturday between 10am and 5pm.

Shared ownershipRetirement

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: