Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Available to move in now

Kingston Wharf

by Hyde New Homes

Shoreham by Sea, West Sussex, BN43 6RN

1 & 2 bedroom apartments

From £69,750 for a 30% share
(From £232,500 Full Market Value)

Find your new home at Kingston Wharf- a stunning collection of modern 1 & 2 bedroom award-winning shared ownership apartments. Waterfront living with coastal, community and connectivity at its heart. Prices start from £69,750 for a 30% share, based on a full market value of £232,500 for a one-bedroom apartment. Set in a great regeneration area along the River Adur and not far from Shoreham beach. With easy access to Shoreham and Southwick train stations, with direct access links into Brighton, Portsmouth, Chichester or London Victoria. Shoreham-by-Sea is a thriving lively community, with loads of independent shops, restaurants or coffee shops just round the corner from the development. Once known as Shoreham’s commercial port, the area is undergoing a real transformation under the large regeneration project that will create a lovely coastal destination with increased local amenities and a flourishing economy. Get on the property ladder with shared ownership at Kingston Wharf and experience modern coastal living at its finest. With a great choice of quality specification, modern kitchens with integrated appliances, flooring included throughout and individual private space to each home, Kingston Wharf is a great place to make your home. Marketing suite and Show Apartment is open Tuesday to Saturday 10am to 4pm by appointment only. Why buy at Kingston Wharf Riverside views & tranquil surroundings Balconies to all homes Individual solar panels to each home Allocated parking to selected homes Excellent transport links to Brighton & London The Hyde Difference High specification as standard Contemporary kitchen units with integrated appliances Quality flooring included Specialist in-house sales team Over 90% customer satisfaction for 12 consecutive years

Shared ownershipGreen features

Aqua Gardens

by Riverside Housing

Royal Docks, Greater London, E16 1AZ

1, 2 & 3 bedroom apartments

From £101,250 for a 25% share
(£405,000 - £642,000 Full Market Value)

Our collection of luxury 1,2 and 3 bed apartments in Aqua Gardens are perfectly situated in East London’s impressive Royal Docks regeneration area, a growing hub of culture, business, and opportunity along the water’s edge. BOOK YOUR VIEWING TODAY!!! £5,000 CASHBACK- on selected plots. Speak to our Sales Consultant today! Your luxury apartment is only a stone’s throw from the dockside, with exquisite gardens providing a welcome haven after a hard day’s work. All our apartments have a contemporary look and feel with open plan living/dining, fully fitted kitchen with integrated appliances, lots of storage space with private outdoor space. All residents have access to a range of amenities including a Spin Studio, Cinema Room, Gym, Swimming Pool and many more. You can reach Aqua Gardens by Custom House DLR station only a 4 min walk away offering fast connection in to the city via the Elizabeth Line or a getaway to City Airport via the DLR. You are also a stone throw away from the river front the Royal Eden Docks where you can enjoy the sunshine whilst having lunch in the many restaurants and cafes it has to offer. Come along and see for yourself, book your viewing slot today. Opening Hours: • Sun / Mon - Closed • Tues - 9am-5pm • Wednesday - Closed • Thurs / Fri / 9am - 5pm • Sat - 9am - 3pm Marketing Suite Address : Royal Eden Docks Marketing Suite, 14 Western Gate way, London, E16 1DA We are located a 2 minute walk from Custom House station, please go down the steps opposite the Excel, we are opposite Busy Bees Nursery

Shared ownershipGreen features

Dundry View

by Allen & Harris Estate Agents

Hengrove, Bristol, BS14 0UL

1, 2 & 3 bedroom apartments

From £76,000 for a 40% share
(From £190,000 Full Market Value)

A stunning development of affordable housing including 26 beautiful & energy efficient 1, 2 and 3 bedroom apartments available to buy on a shared ownership basis and presented by Bristol City Council.

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: