Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Move in this summer for incentives up to £5,000*

Shared Ownership at Royal Albert Wharf

by NHG Homes

Royal Docks, Greater London, E16 2GU

2 bedroom apartments

£50,000 - £52,000 for a 10% share
£500,000 - £520,000 Full Market Value

Move in this summer for incentives up to £5,000* Get onto the property ladder with shared ownership at Royal Albert Wharf, a contemporary development offering waterside living in the London Borough of Newham. Fronting directly onto the river in Royal Albert Wharf's most premium location, these 1-3 bedroom homes are the final chance to buy new at this award-winning 15-year regeneration project. Located at the East End of the historic Royal Docks, Royal Albert Wharf showcases Shared Ownership flats for sale in the London Borough of Newham. The Skipper Collection offers fabulous one-, two- and three-bedroom apartments on the 1st to 11th floor of the riverfront Skipper building as well as the last available riverside two-bedroom duplex with a private street entrance and east-facing terraces overlooking the river and gardens. Each apartment has been finished to a premium specification with luxury touches, such as stone worktops, integrated appliances and ceramic feature tiling. These homes also benefit from private residents' services, including a podium garden, concierge, site security and communal lounge and workspace. *Incentives available on selected homes that are purchased with a minimum of a 25% share. Terms & Conditions apply. See nhghomes.com/summer-incentives for more information.

Shared ownership

Beaulieu Park - Hopkins Homes

by Delta Housing

Chelmsford, Essex, CM1 6PB

1 bedroom apartments

£23,500 - £25,000 for a 10% share
£235,000 - £250,000 Full Market Value

Features include: Air Source HeatingDouble glazing NHBC Warranty Apartments on different floor levels with liftPrivate balcony Allocated parking with Electric Vehicle Charging Point Fully fitted kitchen with integrated appliances Flooring throughout

Shared ownershipGreen features

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: