Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

SO Resi Canning Town

by SO Resi

Canning Town, Greater London, E16 4PA

1 bedroom apartments

£101,875 for a 25% share
£407,500 Full Market Value

SO Resi are proud to offer 37 brand new one and two bedroom apartments in the heart of vibrant Canning Town, East London’s Ideal Commuter Hotspot. These superb homes are made financially accessible through SO Resi’s Shared Ownership. SO Resi Canning Town is part of the new sustainable neighbourhood of Manor Road Quarter in the centre of Canning Town. Manor Road Quarter is an exciting mix of new homes, shops, and space for small businesses, set in a site of 2.9 acres, including a lineal park. Cycle routes through the development link it to Star Park, the Peninsula Ecological Park, the Station and Town Centre. It is set to become home to a growing community in a bustling, vibrant new green neighbourhood directly opposite the DLR and Jubilee Line Canning Town Station in the London Borough of Newham. So Resi Canning Town residents will benefit from excellent transport links, a sustainable environment and great local job opportunities, all within 100 metres of the Thames. Canning Town is one of London’s fastest-growing residential areas, close to London’s creative hub, the city centre and Stratford, home to the Olympic Park, Westfield and both Elizabeth Line and Eurotunnel links. The images on this website are computer-generated images (CGIs) which serve as artistic representations and are intended for illustrative purposes only. Actual finishes, materials, landscaping, and architectural details may vary.

Shared ownership

Stonecross Vale

by Snugg Homes

Winsford, Cheshire, CW7 3AD

2, 3 & 4 bedroom houses

£45,000 - £223,000 for a 25% share
(£180,000 - £892,000 Full Market Value)

Snugg Homes is delighted to present this fantastic new development in Winsford, Cheshire. The development comprises of spacious 2, 3 & 4 bedroom semi-detached homes. IMPORTANT INFORMATION – Please note, the service charge may be different for different house types. The service charge shown here is the highest amount payable PCM of any of the house types on Phase 4.

Shared ownership

Leighwood Fields

by VIVID

Cranleigh, Surrey, GU6 8RW

2 & 3 bedroom houses

From £103,750 for a 25% share
(From £415,000 Full Market Value)

Built by Berkeley Homes, these attractive new houses are set in a desirable location. Situated in the beautiful village of Cranleigh, approximately eight miles southeast of Guildford in Surrey, the development is close to the A281, providing easy links between Guildford and Horsham. Set between the rolling landscapes of the North and South Downs, Cranleigh is an area of outstanding natural beauty. This historic market village offers the perfect balance of modern convenience and traditional village charm, with a peaceful atmosphere that continues to attract homeowners seeking a high quality of life. Cranleigh itself is a large and vibrant village with a wide range of useful amenities. It boasts a thriving selection of independent restaurants, pretty cafés and a strong local arts scene. Outdoor enthusiasts are well catered for, with dozens of scenic walking and cycling routes nearby. With Guildford and Horsham both just a short drive away, and London reachable in around an hour and a half (from Guildford train station), Cranleigh is ideally suited to commuters while remaining a tranquil place to call home.

Shared ownership

Make an enquiry

Request a viewing

More information

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: