Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

King Edward's Park

by Persona Homes

Morpeth, Northumberland, NE61 2NU

2 bedroom houses

From £51,250 for a 25% share
(From £205,000 Full Market Value)

Set in a secluded location our collection of two and three-bedroom homes is a smart choice for family living. Available with shared ownership this is the perfect way to get your foot onto the property ladder..

Shared ownership

Esprit

by Red Loft

Southall, Greater London, UB1 3NR

1 & 2 bedroom apartments

Prices coming soon

Coming soon to the London borough of Ealing - a stunning collection of 1 and 2-bedroom apartments for sale with Shared Ownership. Situated off Whitecote Road between Southall and Hanwell, the development benefits from an abundance of nearby green spaces, including Hanwell Cricket Club, West Middlesex Golf Club, Brent River Park and Hanwell Zoo. There are a number of Ofsted-rated 'Good' schools within walking distance of the development. Hanwell station is just over a mile by foot from the development along the Brent River Park Walk. Alternatively, the E5 bus will take you to Southall station in 14 minutes. From Hanwell station, the Elizabeth line gets to Paddington station in just 15 minutes and Liverpool Street station in 33 minutes.These brand-new apartments are built to zero-carbon design principles to meet the Passivhaus standard, offering homeowners energy-efficient living. Set across 8 storeys, apartments on the upper floors benefit from far-reaching views.Each home has its own private balcony or terrace from the living room and bedroom. Register your interest today to find out more and receive an invitation to the launch in the new year!

Shared ownershipGreen features

Orbit Homes at Brookwood Meadows

by Orbit Homes

Pevensey, East Sussex, BN24 5DP

2 bedroom houses

£132,000 for a 40% share
£330,000 Full Market Value

Introducing Orbit Homes at Brookwood Meadows a collection of two, three and four-bedroom homes in Westham, East Sussex, available to buy through Shared Ownership. These thoughtfully designed properties offer a modern and affordable way to get onto the property ladder in a sought-after area. Located near the historic village of Pevensey and the scenic South Downs, the area combines countryside charm with everyday convenience. Excellent transport links include nearby Pevensey and Westham, Polegate, and Hampden Park railway stations, providing direct services to Eastbourne, Brighton, and London. The A27 is easily accessible for road travel. Local amenities such as schools, shops, and healthcare facilities are close by, making Brookwood Meadows a well-connected and desirable place to call home. Brookwood Meadows in Westham, East Sussex, offers residents a vibrant community enriched by a variety of local amenities. The area features essential services including a Tesco Express and Lidl supermarket, ensuring convenient shopping options. The community spirit thrives through local events, social clubs, and gatherings, fostering a welcoming atmosphere for all ages. With its blend of modern amenities and natural beauty, Brookwood Meadows presents an ideal setting for comfortable and connected living. Discover your new beginning at Brookwood Meadows and register your interest today!

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: