Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Glengall Rise Shared Ownership

by Southern Housing New Homes

Peckham, Greater London, SE15 6RG

1, 2 & 3 bedroom apartments

£100,000 - £151,250 for a 25% share
£400,000 - £605,000 Full Market Value

A new collection of 1, 2 & 3 bedroom Shared Ownership apartments in North Peckham.Glengall Rise is an exciting new development on Glengall Road in the London Borough of Southwark offering a chance to live minutes away from Burgess Park and other green spaces.Benefits of living at Glengall Rise• Residents' only Brompton bike hire • Intelligent parcel lockers• 8th floor rooftop terrace - a great space to unwind while enjoying stunning London views • 2nd floor residents' podium with tables, benches and children's play areaDesigned to suit every lifestyle, these homes offer a versatile mix of layouts and features. Whether you're a first-time buyer, growing family or looking to downsize, you can do so at Glengall Rise without a compromise. Light-filled, open-plan layouts will help you make the most of space and will allow you to enjoy everyday living and entertaining. The development retains its original kiln chimney as a key architectural feature. Set between two buildings, selected Shared Ownership homes will feature stunning views of London and each home benefits from a balcony or a terrace.Wheelchair adaptable apartments Glengall Rise will offer several wheelchair adaptable apartments, designed to make living in London the best it can be. With great layout options that accommodate wheelchair users, rest assured you will find the perfect home. Speak to our sales team to find out more. Shared Ownership What are the benefits?Low deposit - you only pay from 5% of the share you are buying.Flexibility - you choose when you want to purchase extra share of your home.Accessibility - Shared Ownership helps you get a mortgage even with a lower salary.Lower costs - Monthly costs can work our cheaper than renting privately. To be eligible for Shared Ownership:Your household income must be no more than £90,000.You cannot own another property at the time of completing your purchase. You must have an offer on your current property to be able to reserve a new home.You must be over 18 years of age and able to obtain a mortgage.Priority will be given to those who live or work in the London Borough of Southwark You can read our buying guides for more information or listen to our podcast for on the go learning!Book your viewing today!*T&Cs apply. To get your £100 voucher you'll need to reserve a home at Glengall Rise before the 15th July and exchange within 30 working days of Memorandum of Sale and complete within 10 days of exchange. Offer can be withdrawn at any time and is not available in conjunction with any other offer. Buyers are only entitled to one incentive with their purchase. You'll receive your voucher after the completion has taken place.

Shared ownership

Emmer Green Drive

by Abri Homes

Caversham, Berkshire, RG4 8SQ

3 & 4 bedroom houses

£208,250 for a 35% share
£208,000 for a 40% share
£520,000 - £595,000 Full Market Value

Welcome to Reading, a vibrant town where the arts, colourful culture and Reading Festival all come together to bring you closer to your neighbours, whether you’re exploring a museum or chatting the night away with friends at a bar. Our Shared Ownership houses in Reading are located in Caversham, tucked in between the town centre and the Chilterns National Landscape. With Reading Station a short drive away and the Caversham Lakes on your doorstep, you’ll never be short of things to do when you live on Emmer Green Drive. Tenure: Leasehold. Length of lease: 990 years. Reservation fee: £500. Predicted council tax band: New build properties, band to be determined. Service charge is reviewed once a year.

Shared ownership

£1,500 towards legal fees on all apartments*

Orbit Homes at Hawthorn Grove

by Orbit Homes

Westham, East Sussex, BN24 5DP

1 & 2 bedroom apartments and 2 bedroom houses

£84,000 - £134,000 for a 40% share
£210,000 - £335,000 Full Market Value

Introducing Orbit Homes at Hawthorn Grove a new collection of one & two bedroom apartments and two, three and four-bedroom houses 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 Hawthorn Grove a well-connected and desirable place to call home. Hawthorn Grove 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, Hawthorn Grove presents an ideal setting for comfortable and connected living Discover your new beginning at Hawthorn Grove 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: