Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Abbey Quay SO

by Weston Homes

Barking, Greater London, IG11 7HB

2 bedroom apartments

From £104,500 for a 25% share
(From £418,000 Full Market Value)

Abbey Quay combines the convenience of city life with modern living, featuring open green spaces, on-site shops, an Anytime Fitness Gym^ and communal spaces including a Residents’ Hub and Community Hub. 5 reasons to buy: 1. Affordable homes to help you onto the property ladder • You can purchase an agreed initial share percentage of your new home, usually between 25% and 75% of the full purchase price.* • Rent is payable on the remaining share. • The minimum share you buy will be based on your maximum affordability. 2. Weston Homes’ fully inclusive specification A wide range of fully integrated appliances, hotel-style bathrooms with Smart technology and bespoke vanity units, flooring throughout, superfast broadband and so much more. 3. Excellent transport connections Barking train station is a 10 minute walk away. Bars, cafes, restaurants, parks, supermarkets, leisure, arts are a 15 minute walk from your doorstep. † 4. A family led business We care and have a reputation for high quality design and build standards, delivered with a passionate desire to make a genuine difference to the lives of our customers and to leave a legacy of which we are justly proud. 5. New build apartments Save on average £618 every year in energy costs compared to older properties.** The majority of apartments feature a private balcony or terrace and the opportunity to socialise with neighbours in the private podium gardens, whilst enjoying the riverside setting. Contact us to book your exclusive viewing!

Shared ownership

Exclusive offers available*

L&Q at Darwin Green

by L&Q

Cambridge, Cambridgeshire, CB3 0YJ

2 bedroom apartments and 3 bedroom houses

£95,000 - £130,000 for a 25% share
£123,000 - £157,500 for a 30% share
£190,000 - £262,500 for a 50% share
£285,000 - £393,750 for a 75% share
£520,000 for a 100% share
£380,000 - £525,000 Full Market Value

You're invited to our FREE family Halloween Hunt on Saturday 31st October! Visit our website for more information and to book your space. Reserve a selected home between 13th September - 31st October and receive a 1 year service charge contribution* Prices start from: - £95,000 for a 25% share of a 2 bedroom apartment*- £156,000 for a 30% share of a 3 bedroom house*All of our homes are ready to move into now and are covered by a 12 year NHBC warranty and inclusive of a 2 year L&Q New Homes warranty.About the DevelopmentDarwin Green is a whole new community that will provide residents with essential services such as schools, shops and health care all situated in a central square, where you'll be able to stroll to The Square for your daily needs. And for the essential fresh air or dog walks, Darwin Green's Central Parks offers 15 acres of open space to be enjoyed. With 80 miles of designated lanes and routes, a quarter of all journeys to work in the city are now made on two wheels. Whether its cycling to work, university or the station getting around Cambridge on bike couldn't be simpler.The journey to the station itself takes 15 minutes* by bicycle! The commute to London can be achieved in just over an hour following a 50 minute* train journey to London Kings Cross.Register your InterestTo be kept up to date with any news about this new development and further information on our available homes.Please note all applicants are required to register with L&Q for Shared Ownership.*CGIs are representative of the development. Images used are of a typical L&Q show home.L&Q terms and conditions apply. *Incentive terms and conditions apply. Offer is available on selected Shared Ownership properties. Incentive amount is based on the property type and development. For full terms and conditions visit lqhomes.com/terms-and-conditions. Shared Ownership terms and conditions apply. Prices start from £95,000 for a 30% share of a 2 bedroom apartment at L&Q at Darwin Green. Full market value of £380,000. Please visit lqhomes.com/shared-ownership for more information. Times obtained from Google Maps.

Shared ownership

The Orchards

by Entwistle Green

Higher Bartle, Lancashire, PR4 0LA

3 bedroom houses

From £27,000 for a 10% share
(From £270,000 Full Market Value)

Discover The Orchards, a beautiful new development on Lightfoot Lane by Marquee Homes, designed for modern living in a peaceful yet well connected location. A select number of homes are available through Shared Ownership, giving you an affordable way to own your dream home in this sought-after area. Step into The Tulip, a beautifully designed three bedroom home that perfectly blends comfort, practicality, and modern style. Ideal for families or first-time buyers, this home offers generous living space across two floors, making it the perfect choice for those looking to put down roots in a thriving community. Inside The Tulip Welcoming Lounge – A bright and spacious living area, perfect for relaxing or entertaining. Open-Plan Kitchen/Dining – The heart of the home, with plenty of room for family meals and social gatherings. Three Bedrooms – Including a well-proportioned main bedroom and two additional rooms ideal for children, guests, or a home office. Modern Bathroom & Ground Floor WC – Designed for convenience and style. Why You’ll Love It With thoughtful layouts and contemporary finishes, The Tulip is designed for modern living. Outside, you’ll find a private garden and off-road parking, giving you the space and freedom to enjoy life your way. Located within The Orchards, you’ll benefit from a peaceful setting with excellent connections. Enjoy scenic walks, dedicated cycling routes, and easy access to Preston’s vibrant city centre or the stunning Fylde Coast beaches. Contact our friendly Fulwood branch for more information.

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: