Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Reserve for just £99!

Parkside Triangle

by Hyde New Homes

Croydon, Greater London, CR0 4GB

1 & 2 bedroom properties

From £80,625 for a 25% share
(From £322,500 Full Market Value)

A brand-new collection of 1 & 2 bedroom shared ownership apartments, ready to move in. Reserve now for only £99! Book your appointment now! Prices starting from £80,625 for 25% share, based on a full market value of £322,500 for a one bedroom apartment. Set in a quiet residential area next to Duppas Hill Recreation Ground in Waddon, with a communal garden and children play areas at the heart of the development, surrounded by trees and landscaped spaces. With easy access to Waddon train station, with direct access links into Central London. With a great choice of quality specification, modern kitchens with integrated appliances, flooring included throughout and individual private space to each home, Parkside Triangle 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 Parkside Triangle Allocated parking to selected homes Cycle storage and electric car charging points Private balconies, terraces, patios or gardens to all homes Landscaped communal courtyard 999 year lease to apartments and duplexes Access to 3 years of free car club membership Your New Surroundings Zone 5 location with various rail lines to travel into central London Well positioned for transport, shops, schools and local parks New pedestrian walk will allow direct access to Duppas Hill Park and a quicker route to Waddon Station Ease of access to public transport into London and beyond Good selection of nurseries, primary and secondary schools rated ‘Good’ or ‘Outstanding’ by Ofsted The Hyde Difference High modern specification as standard Contemporary kitchens with integrated appliances at no extra cost Quality flooring throughout Experienced in-house sales team Over 90% customer satisfaction for 12 consecutive years

Shared ownershipGreen features

Keldview Rise

by William H Brown

Beverley, East Riding of Yorkshire, HU17 0XL

3 & 4 bedroom houses

From £75,000 for a 30% share
(From £250,000 Full Market Value)

Shared ownership

SO Resi Oval Village

by SO Resi

Lambeth, Greater London, SE11 5SQ

Studio, 1 & 2 bedroom apartments

£47,000 - £72,000 for a 10% share
£470,000 - £720,000 Full Market Value

Now Launched Explore central London from SO Resi Oval Village, a stylish new development offering 46 studio, one- and two-bedroom homes in one of the city’s most vibrant and up-and-coming neighbourhoods. Located just moments from the River Thames, the historic Kia Oval Cricket Ground, and the charming Victorian gardens of Kennington Park, SO Resi Oval Village combines contemporary living with exceptional connectivity across the capital. With three stations within a 10-minute walk, life at Oval Village couldn’t be more convenient for enjoying everything London has to offer. Set in a highly desirable area, residents benefit from both peaceful parks and gardens, as well as the cultural buzz of the South Bank just a short stroll away. It’s the ideal location for those seeking a home that captures the spirit of a village in the heart of the city. Private outdoor space (balcony or terrace) for every home Fully integrated kitchen appliances for a seamless, high-spec finish Landscaped private resident courtyard providing tranquil green space Optional on-site gym membership Secure cycle storage within the development Children’s play area on site Adjacent Tesco supermarket for everyday essentials Excellent transport links with Oval, Vauxhall, and Kennington stations within a 10-minute walk Access to Kennington Park and Vauxhall Pleasure Gardens within minutes’ walk Prime Zone 1 location close to the River Thames, South Bank, and cultural hotspots

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: