Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Makers Yard

by Regenta

Canning Town, Greater London, E16 1YE

1, 2 & 3 bedroom apartments

£106,250 - £148,750 for a 25% share
(£425,000 - £595,000 Full Market Value)

A unique collection of 1, 2 & 3 bedroom apartments and duplexes available for Shared Ownership, perfectly located opposite Canning Town station. Makers Yard is located within the exciting regeneration project within Canning Town, with an abundance of shops, cafes and gyms on your doorstep. All properties at benefit from bespoke fitted wardrobes, fully integrated Bosch appliances, high specification, private outdoor space and some benefit from allocated parking. 24 hour security is in place, along with CCTV and fob access to ensure peace of mind for our residents. Beautifully landscaped communal gardens, play areas and terraces are located throughout the development to ensure the community continues to thrive.

Shared ownership

Exclusive offers available*

Rockcliffe Square, Shared Ownership

by L&Q

Plumstead, Greater London, SE18 7DQ

Studio, 1, 2 & 3 bedroom apartments

£73,188 - £138,250 for a 25% share
£292,750 - £553,000 Full Market Value

Reserve a Shared Ownership home between the 1st - 20th December and receive a 12 month service charge holiday*Rockcliffe Square - Now selling a modern collection of Shared Ownership homesDiscover Rockcliffe Square. A brand new collection of Manhattan Studios, 1, 2 and 3 bedroom apartments in the Royal Borough of Greenwich, situated between buzzy, cultured Woolwich and up-and-coming Plumstead, just a stroll away from the Thames. Ideally located close to 3 train stations including Plumstead, Woolwich and Woolwich Arsenal offering the Elizabeth line, National Rail and DLR. What is Shared Ownership?Shared Ownership is for anyone who doesn't currently own a home. If you want to get on the property ladder, but can't afford to buy outright on the open market, then Shared Ownership could be for you. Under the Shared Ownership scheme you part-buy/part-rent your home, making it possible for first-time buyers and families to get on the property ladder.The minimum share you can purchase is 25% and the maximum is 75%. You will usually pay a mortgage on the part you own and a subsidised rent on the part you don't own. As your income rises, you can increase the share you own until you eventually own 100%.Register your interest today: lqhomes.com/rockcliffe-squareKey features:Private outdoor space to all homesA landscaped communal podium on the first floorModern fully integrated appliancesIdeally located just a short walk to 3 train stationsReach Canary Wharf in just 7 minutes and Liverpool Street in 14 via the Elizabeth LineTake the National Rail to London Bridge in 26 minutesLondon City Airport is only 6 minutes via the DLRTravel leisurely via the Uber Boat and be at the O2 in 11 minutesEnjoy 3 nearby commons, Plumstead, Winn's and Woolwich for beautiful green space Imagery depicts development show home photography. CGI for illustrative purposes only.*Initially priority will be given to local people who are eligible applicants earning up to £71,000 for a Manhattan Studio, 1 & 2 bedroom apartment and £88,000 for a 3 bedroom. This is expected to apply for the first three months following launch. If your income exceeds these thresholds, please register your details and we will contact you if these restrictions are lifted in the future.L&Q terms and conditions apply. *Incentive terms and conditions apply. Offer is available on selected Shared Ownership properties only. 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 £73,188 for a 25% share of a Manhattan Studio apartment at Rockcliffe Square. Full market value of £292,750. Please visit lqhomes.com/shared-ownership for more information.

Shared ownership

Last Remaining Homes! Don't Miss out!

Laurelwood

by PA Housing

Walton-on-Thames, Surrey, KT12 2TD

2 bedroom apartments

£40,500 - £45,000 for a 10% share
£405,000 - £450,000 Full Market Value

Don't miss out! Last remaining homes! Now offering £2,000 towards moving costs! T&Cs apply. Ask our Sales Executive for more information. Please note Plot 6 is not part of this offer.PA Housing is proud to present an impressive collection of 52 stylish and energy-efficient one and two-bedroom apartments. With a host of added benefits, including a brand new ground floor preschool for our youngest residents.Set in a prime location overlooking green space, Laurelwood offers high quality homes in an attractive living environment. A stone's throw from the River Thames and within easy reach of a wealth of shopping, entertainment and leisure attractions, plus fast transport links into the heart of London.

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: