Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Pastures Place

by Home Reach

Corby Glen, Lincolnshire, NG33 4NZ

2 bedroom houses

£52,500 for a 25% share
£210,000 Full Market Value

The ground floor layout of this home is ideal for modern living. Featuring an open-plan kitchen, diner and lounge. You’ll also have a WC and large under stairs storage space. Upstairs, you have one double bedroom with a store cupboard and a twin bedroom. Completing this home is a modern bathroom. PEA – rating B *Images are for illustrative purposes only. Please speak to Sales Adviser for full details*

Shared ownership

Bamford Park

by RA Bennett

Leamington Spa, Warwickshire, CV33 8BN

2 & 3 bedroom houses

From £117,000 for a 40% share
(From £292,500 Full Market Value)

Bamford Park in Lighthorne, just south of Leamington Spa is a brand new development of 2 and 3 bedroom semi-detached and terraced homes available to purchase for shared ownership with *5% deposit paid developer incentive available. All homes are available to purchase with shared ownership, in the village of Lighthorne located in heart of the Warwickshire countryside. This delightful village has a local shop for your essentials and a pub where you can relax over a drink. There are several schools close by, Lighthorne Heath Primary School and 5 miles away Kineton High School, both Ofsted rated ‘Good’. Southam College is just 10 miles away and is regarded by Ofsted as ‘Outstanding’. Situated approximately 6 miles from the Royal town of Leamington Spa, and a short distance to Warwick, Stratford upon Avon and further afield Banbury. You will find plenty to see and do, from shopping, dining, enjoying a drink or taking in the local history. There are plenty of recreational facilities to suite all ages in the surrounding areas, including the British Motor Museum, Warwick Castle, The Royal Shakespeare Theatre, race courses in both Warwick and Stratford, leisure centres and cinemas to name but a few. Banbury is easily accessible from Bamford Park, just down the M40 motorway, where you’ll find a retail park with several large high street stores. With the M40 being less than 2 miles away from these new homes, this provides transport links to Oxford, Birmingham, Banbury and London. The nearby A46 takes less than 30 minutes to reach Coventry. Birmingham airport is approximately 45 minutes away by car via the M40/M42. The train station at Leamington Spa has regular connections to London Marylebone. Local buses passing through Lighthorne take you to Leamington, Kineton, Stratford, Fenny Compton, Gaydon and Banbury (No 77 & 77A) Price example: Plot 50 (Kirk Housing Type) Share price based on 40% Full market value - £292,500 Share price - £117,000 Rent per month (inclusive of service charges) £450.41 Lease term 125 years Minimum deposit required £5,850 Disclaimer – Please note that an 80% staircasing restriction applies to these homes What is shared ownership? Shared Ownership is a government-backed scheme designed to help people who cannot afford to buy a suitable home outright. It’s often described as part-buy, part-rent: • You buy a share of your home (usually between 10% and 75%) • You pay rent to Citizen on the share you don’t own • You’re an owner-occupier and hold a lease on the property Benefits of Shared Ownership • A lower deposit and mortgage compared to buying outright • The opportunity to increase your share over time (known as staircasing) • More security than private renting • The chance to benefit if your home increases in value Shared Ownership is usually available if: • Your household income is £80,000 or less (or £90,000 or less in London) • You cannot afford to buy a suitable home on the open market • You have a good credit history and enough savings for a deposit (usually 5–10% of the share you’re buying) • You can afford the ongoing costs of owning a home Existing homeowners may still be eligible, but you’ll normally need to be selling your current home and show that it doesn’t meet your needs. Disclaimers: 5% deposit paid at Bamford Park. This incentive is not in conjunction with any other offer, and is based on the advertised share only and not increased share percentages you may be able to afford to buy. Select images in this listing have been digitally enhanced or virtually staged to show how the home could look when furnished. Actual property layout, finishes, and features may vary.

Shared ownership

Sturdee Grove

by William H Brown

York, North Yorkshire, YO31 8FD

1 bedroom apartments

From £117,000 for a 60% share
(From £195,000 Full Market Value)

A Brand new Shared Ownership home with a versatile home office - Over-55s | In Partnership with Joseph Rowntree Housing Trust. This property delivers a thoughtful blend of comfort, independence, and community living.

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: