Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

FINAL 2 BED HOUSE AVAILABLE!

Richmond Point

by Legal & General Affordable Homes

Lytham St Annes, Lancashire, FY8 3FU

2 bedroom houses

£83,000 for a 40% share
£207,500 Full Market Value

** FINAL HOME REMAINING** Discover a new community offering outstanding contemporary coastal living Set on the edge of the highly desirable seaside town of Lytham St Annes, Richmond Point offers a superb collection of beautifully designed two and three, bedroom homes, combining modern living with the charm of Lancashire’s Fylde Coast. Located off Queensway, the development has been carefully planned to create an attractive and welcoming neighbourhood, surrounded by open green spaces and close to both countryside and coastline. Designed with contemporary lifestyles in mind, homes at Richmond Point feature stylish open-plan living areas, energy-efficient construction, high-quality specifications and thoughtfully designed layouts that maximise light and space. Distinctive architecture, varied elevations and attractive landscaping help create a development with a strong sense of individuality and community. Residents enjoy the best of both worlds: peaceful surroundings with countryside walks and nature on the doorstep, while being just minutes from the vibrant centres of Lytham and St Annes, their award-winning beaches, independent shops, cafés and restaurants. For more information, please register or contact our Sales Consultant who will be delighted in helping you find your new home. The advertised share percentage represents the minimum available to purchase. For applicable Shared Ownership homes, the full range of permitted initial shares will be made available on at least 25% of properties within the development or phase, where required by the relevant programme. A prospective purchaser assessed as being able to afford a lower share than advertised may be considered for a lower initial share, where permitted by the relevant funding, planning, contractual and regulatory requirements. This does not create an entitlement to purchase at a lower share percentage. Once the required proportion of properties has been sold, L&G Affordable Homes reserves the right to amend the minimum share percentages offered on the remaining properties. The share available to each purchaser will be confirmed through the sales, mortgage and affordability assessment process by L&G Affordable Homes or its appointed Sales Agent. L&G Affordable Homes reserves the right to refuse, withdraw or decline an application or reservation where eligibility or affordability requirements are not met, or where necessary to comply with applicable funding, planning, contractual, regulatory or operational requirements.

Shared ownership

Sunningdale Park

by Gascoigne - Pees

Sunningdale, Berkshire, SL5 0AR

1 & 2 bedroom apartments

£36,500 - £453,750 for a 10% share
(£365,000 - £605,000 Full Market Value)

Welcome to Sunningdale Park, an exclusive new collection of one and two-bedroom homes uniquely nestled in 47 acres of picturesque parkland. Experience a lifestyle perfect to unwind in with nature walks right on your doorstep. Every home is finished to a high specification, with private on-site parking and AEG appliances. Find Ascot and Windsor within easy reach, where you can benefit from the Racecourse and Great Park. Set between Sunningdale and Ascot, your new home is situated in an idyllic countryside setting. You'll also benefit from a fantastic range of local amenities nearby, including prestigious golf courses and leisure facilities. Looking to travel further afield? Nearby Sunningdale station connects you to London in under an hour. Become a part of the local community at the nearby David Lloyd and leisure centres. Spend the weekends enjoying Ascot's cinemas and theatres. World-class spa hotels and restaurants such as Coworth Park and Penny Hill will be just a short drive away. *The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. When you’re ready, you can buy more shares until you staircase to owning 100% of your home. Please note, as a Shared Ownership purchase there are likely to be additional legal fees during the conveyancing process, your solicitor can advise you of these.

Shared ownership

Living at EdCity

by Hammersmith & Fulham

White City, Greater London, W12 7TG

1 & 2 bedroom apartments

for a 25% share
(£127,500 - £143,750 Full Market Value)

Discover your new chapter at Living at EdCity, offering a collection of 84 Shared Ownership apartments in the thriving White City Innovation District. This contemporary collection of one and two bedroom and wheelchair apartments with private balconies, is part of the wider EdCity development and will be available to those that live or work in Hammersmith and Fulham. Moments from the former BBC Television Centre – now a lively destination offering dining, entertainment and a vibrant communal plaza where pop-ups and seasonal events bring the area to life – Living at EdCity sits at the heart of creative enterprise, surrounded by opportunities making this an exciting place to live. With two stations within a 10‑minute walk, Living at EdCity offers rapid connections on the Central and Hammersmith & City lines. And with Europe’s largest shopping centre, Westfield London, just a short stroll away; educational opportunities at EdCity on the doorstep; and White City’s thriving business district offering a wealth of career prospects, you might never want to leave! To purchase a Shared Ownership home at Living at EdCity, please first register with Hammersmith and Fulham Home Buy by creating an account. If you haven't already created one, please do so as soon as possible by clicking the below link: Then click the Register Now tab to begin. When creating your account, make sure to opt in for property alerts so you are notified once we advertise these properties on the Home Buy website. You must login and click on the advert to register your interest in it. This will ensure you are on the Hammersmith and Fulham Home Buy list of interested buyers. If you are eligible, you will be contacted so we can guide you through the next steps. 1 Bed Apartments: Open market value from £510,000.00 Share amount from £127,500.00 Share percentage from 25% Rent from £558 a month Service Charge from £308 a month Minimum deposit from £12750 2 Bed Apartments: Open market value from £575,000.00 Share amount from £143,750.00 Share percentage from 25% Rent from £539 a month Service Charge £375 a month Minimum deposit £14375 Disclaimer The open market value, service charge and rent are starting from prices and are unit dependent. Photos are for illustrative purposes only and may not represent a true likeness to the individual units being sold. We have taken all reasonable care to ensure the accuracy of the information provided on this page; however, it is intended for general guidance only and may be subject to change. The Council does not guarantee the accuracy or completeness of this information, and all details are provided for illustrative purposes. The Council undertakes continuous development, so specifications and particulars may vary over time. Nothing on this page constitutes a formal offer, invitation, or contract to purchase any property, and no reliance should be placed on the information provided. All plans, descriptions, dimensions, and measurements are approximate and for guidance only. This information is given without responsibility on the part of the 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: