Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

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SO Resi Wembley Park

by SO Resi

Wembley, Greater London, HA9 8FS

1, 2 & 3 bedroom apartments

£98,125 - £152,500 for a 25% share
£392,500 - £610,000 Full Market Value

Now available with 5% deposits! SO Resi Wembley Park is a landmark new development in the heart of north-west London’s iconic cultural hotspot. This development offers 79 high-quality, energy-efficient one, two and three-bedroom apartments across two buildings. Rising to 21 storeys at its highest point, and with private outdoor space to every home, residents will enjoy outstanding views across the Wembley skyline. Huge investment has transformed the local area into a world-class destination, offering a fantastic choice of shopping and nightlife, picturesque green spaces, highly rated schools and a host of cultural and leisure attractions. With Wembley Park Underground station on your doorstep, fast transport links connect to central London in just 12 minutes, bringing all the capital has to offer within easy reach. Wembley offers residents a host of benefits that make it an attractive place to call home. One of the standout features is its proximity to the iconic Wembley Stadium, a world-renowned venue that hosts major sporting events and concerts. Residents have the unique advantage of enjoying live entertainment and sports events practically at their doorstep. The area also boasts excellent transport links, with Wembley Park Tube station providing easy access to central London in just a short ride. This connectivity makes commuting and exploring the city convenient, enhancing the overall quality of life for those residing in Wembley. In addition to its cultural and entertainment amenities, Wembley benefits from a diverse and vibrant community. The neighbourhood is home to a mix of shops, restaurants, and cultural spaces that cater to various tastes and preferences. The Wembley area has witnessed ongoing development, leading to improved infrastructure, modern amenities, and a dynamic local economy. With green spaces like Wembley Park and Fryent Country Park nearby, residents also have opportunities to enjoy outdoor activities and recreational pursuits. Overall, living in Wembley offers a harmonious blend of urban conveniences, cultural richness, and community vibrancy. Key Features: Private balcony Landscaped podium gardens Cycle storage Adjacent to Wembley Park Station Located in a regeneration hotspot

Shared ownership

Woodside Meadows

by Manners & Harrison

Hartlepool, County Durham, TS25 1DF

3 & 4 bedroom houses

From £52,500 for a 30% share
(From £175,000 Full Market Value)

Seaton Meadows development is just a couple of miles from the coastal village of Seaton Carew. With great transport links, local amenities, attractions and outdoor spaces, this is an ideal place to invest in your future. The Amber The Amber is a spaciously-designed, semi-detached, three-bedroom family home. Built to a high-quality standard, this property boasts charming designs and modern décor along with energy efficiency throughout. On the ground floor, The Amber consists of a large, open-plan kitchen-diner with sizeable patio doors leading to the private rear garden. In addition, a convenient ground floor w/c accompanies a generously-sized lounge area. The first floor comprises a main bedroom with en-suite shower and washroom as well as two large double bedrooms, a family bathroom and landing with access to the loft space. Located in the lively town of Hartlepool, the new Seaton Meadows development is just a couple of miles from the coastal village of Seaton Carew. With great transport links, local amenities, attractions and outdoor spaces, this is an ideal place to invest in your future. Share advertised is 30% of the full market value of £175,000. The Sage The Sage is a semi-detached, three-bedroom family home offering space and elegance throughout. Built with energy-efficient materials to a high-quality specification, this property delivers superb designs, modern décor and excellent finishes. On the ground floor, The Sage offers a spacious open-plan Howdens fitted kitchen-diner with French patio doors leading to the private rear garden. There is also a convenient ground floor w/c, storage room and a generous-sized living area, along with outside parking for two vehicles. The first floor comprises a main bedroom with en-suite shower and washroom, a sizeable double bedroom and a single bedroom that could easily double as a home office. A family bathroom completes this home with full-height bath tiles, quality finishes and fitted vinyl flooring. Located in the lively town of Hartlepool, the new development of Seaton Meadows is just a couple of miles from the coastal village of Seaton Carew. Thanks to great transport links and no shortage of local amenities, attractions and outdoor spaces, this is an ideal place to put down roots. Share advertised is 30% of the full market value of £185,000. The Jade The Jade is a generously-designed, semi-detached, four-bedroom family home. Built to a high-quality standard, this property presents charming designs, modern décor and energy efficiency throughout. On the ground floor, The Jade comprises a spacious open-plan Howdens fitted kitchen-diner, a convenient separate w/c and a sizeable living area with large patio doors leading to the private rear garden. Outside of the property, you will also find a generous garage space and parking for an additional two vehicles. The first floor consists of a main bedroom with en-suite shower and washroom, another two large double bedrooms, a single bedroom and a stunning family bathroom with modern tiles, fixtures and fittings. Located in the lively town of Hartlepool, Seaton Meadows is a new development just a couple of miles from the coastal village of Seaton Carew. With great transport links, local amenities, attractions and outdoor spaces, this is an ideal place to put down roots. Share advertised is 45% of the full market value of £225,000.

Shared ownership

Carlton Place

by Persona Homes

Brent, Greater London, NW6 5HH

1 bedroom apartments

From £119,250 for a 25% share
(From £477,000 Full Market Value)

Available to reserve now Be part of something big. Carlton Place is part of a major regeneration scheme of 328 new homes located between Kilburn and Queens Park in London. Now launched, the first of our one and two-bedroom shared ownership homes are ready to move into now. These homes are designed for today's modern lifestyles and are energy-efficient, featuring underfloor heating and water saving measures. All you need will be on your doorstep. This new development is built around a brand-new public square which will be home to a supermarket, café, gym, pharmacy, and a medical centre. There are two great parks within ten minutes' walk and the Zone 2 location makes connections easy.

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: