Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Brand new homes coming soon to Ealing!

Buckingham Avenue

by Red Loft

Perivale, Greater London, UB6 7RA

1 & 2 bedroom apartments

from £81,875 for a 25% share
£327,500 - £450,000 Full Market Value

Viewings now available - register your interest now to book your viewing! Buckingham Avenue is a contemporary development of stylish one & two-bedroom Shared Ownership apartments, offering modern living in a well-connected West London location. Tucked away in a quiet cul-de-sac, the scheme combines a calm suburban setting with exceptional access to the capital, making it ideal for first-time buyers and commuters alike.Less than a 10-minute walk from Perivale Underground Station (Central Line), you can reach Oxford Circus in under 30 minutes. London Heathrow Airport is approximately 8 miles away, reachable in under an hour by public transport.Inside, apartments are finished to a high standard and are ready to move into, featuring contemporary open-plan layouts designed for modern living. Kitchens are fully fitted with high-specification integrated appliances, complemented by stylish finishes and practical storage. Selected homes benefit from private balconies and en-suite bathrooms, creating flexible spaces for both work and relaxation.Surrounded by green open spaces including Horsenden Hill and nearby parkland, residents can enjoy the best of urban and outdoor living, with local shops, cafés and leisure facilities all close at hand.Key Features:High specification kitchens with integrated appliancesSelected apartments with private balconies and en-suitesEnergy Efficient, EPC rating B10-minute walk to Perivale Underground Station (Central Line)Washer/dryer includedLease length of 250 years from 2021Ready to move intoPriority will be given to applicants who currently live and/or work in the London Borough of Ealing. Broadway Living apply maximum household income caps for this development of £42,000, to selected homes. Applicants must earn under this cap to be eligible. What is Shared Ownership?Shared Ownership is designed to help first-time buyers and those who do not currently own a home get onto the property ladder.To be eligible, you must:Have a household income of under £90,000 (inside of London)Be unable to purchase a suitable home on the open marketHave a good credit history and be able to obtain a mortgage Shared Ownership is a government-backed scheme that helps people get on the property ladder. You start by buying just a share of your home. You'll typically only need a 5% deposit of the share you purchase, making it more affordable to get started. Buying a smaller share also means it can be easier to secure a mortgage and take your first step onto the property ladder.You can buy more shares of your home at any time in the future, working towards owning your home outright.

Shared ownership

Bracks Farm

by Home Reach

Bishop Auckland, County Durham, DL14 8FL

3 bedroom houses

From £56,398 for a 30% share
(From £187,993 Full Market Value)

Bracks Farm is a beautiful development of 3 bedroom homes in Bishop Auckland, less than 30 minutes from the stunning centre of Durham. Bishop Auckland sits in the Vale of Durham and boasts its own castle, stunning country parks, forests, walks and stately homes. An abundance of high street shops, good schools, restaurants and bars are within walking distance making it the perfect location to call home. All homes at Bracks Farm feature anthracite or sage doors, block-paved driveways, front and rear turf, 6ft timber fencing, outside tap, and gate. Selected plots also include an Air Source Heat Pump. EPC rating: EPC-B PEA- B Images are for illustrative purposes only. Please speak to Sales Adviser for full details

Shared ownershipGreen features

Knowle Gardens

by Linden Homes

Exeter, Devon, EX2 8XW

3 bedroom houses

£162,500 for a 50% share
£325,000 Full Market Value

Conveniently located on Exeter's outskirts, Knowle Gardens offers a stylish range of 2, 3 & 4 bedroom homes ideal for couples and families. Just minutes from the city centre and major routes like the M5 and A30 Knowle Gardens provides access to both urban amenities and countryside escapes. Whether it's cycling at Haldon Forest Park or relaxing at Dawlish Warren beach, this location is perfect for enjoying Devon's natural beauty. Each modern home is thoughtfully designed for family living, with excellent energy efficiency and a 10-year warranty for peace of mind. Plus, with a variety of moving schemes available, your new home could be closer than you think. What's my budget? Check your affordability CLICK HERE Considering shared ownership? Estimate your monthly costs CLICK HERE Home to sell? Complete an online valuation CLICK HERE

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: