Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

SO Resi Cambourne

by SO Resi

Cambourne, Cambridgeshire, CB23 6NE

4 bedroom houses

£125,000 for a 25% share
£500,000 Full Market Value

Offer: Get £1,000 Towards Your Legal Fees – T&Cs apply. Ideally situated just nine miles west of Cambridge and just over an hour from King’s Cross Station, Cambourne marries the convenience of new-town living with the history and charm of England’s most prestigious university city. This brand-new development offers easy workday links to the A14,M11 and M25 via the A428, with plenty of scope for weekend adventures – surrounded by a tranquil nature reserve and a stone’s throw from locally renowned independent eateries, a stylish shopping centre and activities ranging from leisurely punting tours to exhilarating aqua park sessions. When warmer climes beckon, an easy 38-mile drive gets you to Stansted airport – or an even easier 4 miles to Cambridge airport. There’s a choice of four good primary schools, feeding the Ofsted outstanding-rated Cambourne Village College, as well as family friendly facilities to suit your lifestyle and budget – from Cambourne’s Fitness and Sports centre to the smart Cambridge Country Club. Whether you’re buying independently, as a couple or as a growing family, SO Resi Cambourne ticks every box – and more.

Shared ownership

Saxon Place

by Legal & General Affordable Homes

Queniborough, Leicestershire, LE7 3FE

3 & 4 bedroom houses

£162,500 - £200,000 for a 50% share
(£325,000 - £400,000 Full Market Value)

JUST LAUNCHED! Located in the beautiful village of Queniborough, these new 3 and 4 bedroom Shared Ownership homes offer an excellent opportunity to get an affordable home of your own in an idyllic new community. Set amongst open countryside yet within easy reach of Leicester and major transport links, Saxon Place offers a lifestyle that balances peaceful surroundings with everyday convenience. Landscaped green open spaces, picturesque walking routes and an on-site play area create a welcoming community atmosphere which you’ll be proud to call home. Each home at Saxon Place benefits from a minimum of two allocated parking spaces, an electric vehicle charging point and a private turfed rear garden. With a choice of spacious layouts, there’s a home to suit every stage of life, whether you’re entertaining friends, working from home or simply enjoying more room to relax. Contact us today to book a viewing and find a beautiful new home of your own. About the local area Set amongst peaceful countryside Queniborough is a thriving village with a strong sense of community and a wide range of convenient amenities on your doorstep, including local shops, cafés, traditional pubs, a post office and has a number of schools nearby. Just a short 6 minute drive away, Syston provides a range of supermarkets, independent retailers, restaurants and a train station providing direct services into Leicester Derby and Nottingham. Leicester city centre is approximately 20 minutes drive away, providing an extensive choice of shopping, dining, entertainment and cultural attractions to keep you entertained. There is also a local bus service just a short walk away that will take you to Leicester or Melton Mowbray. When you want to enjoy the outdoors, the surrounding countryside, nearby walking routes, golf facilities and family attractions offer plenty of opportunities to enjoy an active lifestyle close to home, with many parks and nature reserves in easy reach. Saxon Place offers commuters excellent road connections via the A607, A46 and M1, while East Midlands Airport can be reached in around 30 minutes, making travel across the region and further afield simple and convenient. Exterior images are computer generated. Interior images are virtually dressed and are indicative only. Layouts may differ.

Shared ownership

Reserve for just £99!

Whitstable Heights

by Hyde New Homes

Whitstable, Kent, CT5 1SH

2, 3 & 4 bedroom houses and 2 bedroom apartments

From £81,250 for a 25% share
(From £325,000 Full Market Value)

Moving costs contribution of up to £4,500 on all new reservations* Reserve for just £99 and enjoy modern comfort, excellent transport connections and the best of Whitstable!* A superb selection of 2, 3 and 4 bedroom houses and a limited collection of 2 bedroom apartments available with shared ownership at Whitstable Heights ready to move into now or to reserve off plan. Marketing suite and show home viewings take place Tuesday - Saturday, 10am - 4pm, by appointment only. Discover Whitstable Heights • Be part of a brand new community in the heart of Whitstable • Wide range of homes suitable for first time buyers, young families and relocators • Popular destination, well-known for its beach, harbour and annual oyster festival • 6 miles to motorway network via M2 • 1 mile to Whitstable station offering services into London • Allocated parking • Turfed private gardens • Selected homes ready to move into The Hyde Difference • High specification as standard • Contemporary kitchen units with integrated appliances • Quality flooring included • Garden laid to lawn • Specialist in-house sales team • Over 90% customer satisfaction for 13 consecutive years *T&C's apply!

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: