Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

The Cornish Quarter

by Linden Homes

Wadebridge, Cornwall, PL27 6AY

3 bedroom houses

£175,000 - £187,500 for a 50% share
£350,000 - £375,000 Full Market Value

Discover an impressive range of 3 & 4-bedroom homes at our new housing development in Wadebridge.Home to beautiful coastlines, luscious outdoor spaces and superb shopping facilities, our new homes for sale in Wadebridge make it easy to enjoy a relaxed pace of life in the heart of Cornwall. Living at The Cornish Quarter you'll have easy access to the nearby scenic Camel Trail as well as a choice of nearby beaches-perfect for outdoor enthusiasts and relaxed weekend strolls. In addition you'll find well-rated schools and nurseries nearby, making it a practical choice for growing families. What's more, with excellent road and rail connections, including the A30 and Bodmin Parkway station, travelling across Cornwall and beyond is simple and convenient. Considering Shared Ownership? â' Estimate your monthly costs today What's my budget? â' Calculate how much you could afford ...

Shared ownership

Waterloo Sidings

by Persona Homes

Leeds, West Yorkshire, LS9 0JY

2 & 3 bedroom houses

From £53,750 for a 20% share
(From £268,750 Full Market Value)

Discover Waterloo Sidings, a beautiful new community of 2, 3 and 4-bedroom homes in Halton Moor, available with shared ownership - making it easier to own the home you’ve been dreaming of. Thoughtfully designed for modern living, these homes are ideal for first-time buyers taking their first step, families looking for more space, or anyone ready to embrace a fresh start.

Shared ownership

Deposit contribution up to £8,125*

L&Q at Kidbrooke Village

by L&Q

Greenwich, Greater London, SE3 9GR

1, 2 & 3 bedroom apartments

£93,125 - £163,750 for a 25% share
£243,750 - £248,750 for a 50% share
£365,625 - £373,125 for a 75% share
£372,500 - £655,000 Full Market Value

Reserve a selected home this March to enjoy a deposit contribution of up to £8,125, whilst all other homes will receive £2,000 towards buying costs* Discover L&Q at Kidbrooke Village.A collection of 1, 2 & 3 bedroom Shared Ownership apartments in Kidbrooke, London. Prices from £93,750 for a 25% share.Register your interest now to find out more.About Kidbrooke Village Situated in the leafy green oasis of Kidbrooke SE3, a home at this development will offer you to escape and unwind from the demands of modern life. Built to a high specification, your new home will come equipped with a fully fitted kitchen featuring integrated appliances, built-in wardrobes to the master bedroom and outdoor space in the form of a balcony or terrace - everything you need for modern living.As well as having a wonderfully crafted new home, you will benefit from some outstanding onsite facilities, surrounded by landscaped gardens, acres of open parkland and a flourishing new community. Convenience is at the heart of Kidbrooke. The Village Centre is home to retail shops, a supermarket, coffee shop, dentist, doctor and pharmacy.Key features:Concierge available, as well as local gym facilitiesKidbrooke Station, Zone 3 on your door stepOnly 16 minutes to London Bridge & 19 to Waterloo EastOn-site doctor, dentist, pharmacy, Sainsbury's, Starbucks & farmer's marketLandscaped gardens and bright open spaces86 acres of open space and parklandPet-friendly environmentReady to move in now Viewings For those who would like to and are able to visit us, the Show Home is now open on an appointment-only basis, with extra measures in place to ensure your wellbeing. Please call us to book your appointment. If you would prefer to speak to our Sales Team from your own home, they are still on hand and can conduct appointments via phone, email and by virtual tour. We are taking extra precautions to ensure the health and wellbeing of our customers, staff and members of the public.What is Shared Ownership?Under the Shared Ownership scheme you part-own and 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%*Times taken from trainline.com Photography depicts typical L&Q Show homeL&Q terms and conditions apply. *Incentive terms and conditions apply. Offer is available on selected Shared Ownership properties only. Deposit contribution is available on Plots G02, G04, G05, 104 & 108 at Petter House. 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 £93,125 for a 25% share of a 1 bedroom apartment at L&Q at Kidbrooke Village. Full market value of £372,500. Please visit lqhomes.com/shared-ownership 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: