Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Limited Availability!

Sage Point

by PA Housing

Woolwich, Greater London, SE18 5BJ

1 & 2 bedroom apartments

£89,375 - £118,875 for a 25% share
£357,500 - £475,500 Full Market Value

Discover your dream home at Sage Point in the Royal Borough of Greenwich which compromises of 42 one and two bedroom Shared Ownership apartments. Nestled along the River Thames, our new development in Woolwich combines rich history with vibrant modern living. With its excellent transport links, stunning parks, and a thriving community, it's the perfect place to call home.Now offering three months' rent & service charge paid for. T&Cs apply. Ask our Sales Executive for more information.

Shared ownership

£2,000 Deposit Contribution* T&Cs appl

Rivermead Gardens

by Legal & General Affordable Homes

Alton, Hampshire, GU34 1FZ

2 bedroom apartments

from £69,375 for a 25% share
£277,500 - £285,000 Full Market Value

Open day event | Saturday 28th February Join us on Saturday 28th February from 10am – 4pm for our open day event where you’ll have the chance to take a look around the apartments and see for yourself what living here could be like. Plus, get moving sooner with our L&G £2,000 Deposit Contribution*. Bookings are by appointment only, contact us today to secure your place. *Terms and conditions apply, visit our website for full details. A delightful and thriving community awaits youA beautiful collection of 2 bedroom apartments available with Shared Ownership set in the desirable market town of Alton, East Hampshire.Rivermead Gardens is perfect for commuters, with Alton railway station within walking distance, offering regular services directly into London Waterloo in just over an hour, meaning you can enjoy the best of both worlds.Living here you'll be conveniently located within walking distance to a range of local amenities including independent stores, supermarkets, cafes, restaurants and green open spaces. The River Wey runs through Rivermead Gardens and there are walking paths around Kings Pond nearby for you to enjoy.Your new home has been built around your lifestyle including modern, open plan living areas that are full of natural light. Kitchens are streamlined and well equipped with a range of integrated appliances, you'll also have a freestanding washer/dryer and each home comes with allocated parking.Financial Breakdown:Full Market Value: £202,500 - £290,00025% Share Value: £50,625 - £72,5005% Deposit of 25% Share: £2,532 - £3,625Rent on Unowned Share (75%): £348 - £486 per monthService Charge: £189.43 - £317.92 per monthEstimated monthly cost: £846 - £1,198Council Tax: TBC* What is Shared Ownership?Shared Ownership is a more affordable way to have the security and stability of owning your own home. Shared Ownership is a government backed part buy/part rent scheme designed to help you take that first step on the property ladder. The scheme enables buyers to purchase a share of the value of the home - this is usually between 25 to 75 percent of the value of the property - and pay a subsidised rent on the remaining portion. You have the option to buy a bigger share in the property at a later date (known as Staircasing).Eligibility Criteria:Priority will be given to applicants with a live/work or family connection to the Parish of Alton or East Hampshire District. To be eligible for a home at Rivermead Gardens, you'll need to:Have a combined household income under £80,000 per annumNot already own a property, or part of a property, at the time of completing on your purchaseBe unable to purchase a suitable home to meet your housing needs on the open marketHave a minimum of £5,000 to cover the costs of buying a homePriority will be given to applicants with a live/work or family connection to the Parish of Alton or East Hampshire District Council Tax: TBCCouncil tax bands are often not released until the property is complete. If you need any guidance, please get in touch with our Sales Consultants otherwise the local authority or the developer may be able to help.

Shared ownership

The Restorey, NW10

by Sovereign Network Group

Park Royal, Greater London, NW10 7SR

1 & 2 bedroom apartments

£80,000 - £125,000 for a 25% share
£320,000 - £500,000 Full Market Value

Ready to move in! A collection of 1 & 2 bed Shared Ownership apartments located in the heart of the Old Oak and Park Royal regeneration area, set to be one of the capital’s most vibrant districts. Reserve a home and get £5,000 to help with your move!† This car free development is set around landscaped gardens and benefits from excellent local amenities and restaurants, as well as plenty of cycle storage and fantastic bus routes to help keep you connected. Each apartment comes equipped with Zanussi integrated appliances, floor-to-ceiling windows, built-in wardrobes to the main bedroom and a private balcony/terrace area. Many of our apartments have extensive views across London and surrounds, and all have access to a central courtyard garden. • Ready to move into & available to view • 7 minutes' walk to ASDA supermarket^ • 16 mins walk to Harlesden Station (Bakerloo line)^ • West Acton (Central Line) and Acton Mainline station (Elizabeth Line) within 30 mins walk^ • Integrated appliances included • Private balcony/terrace for each plot • Car free development with no parking Shared Ownership at The Restorey gives you the opportunity to buy a share of your new home, starting at 25%, or more depending on what you can afford. The rest is owned by Sovereign Network Group (SNG) and you pay a subsidised rent on this portion in addition to your own mortgage. There will be a service charge payable to cover the cost of communal maintenance and this includes the buildings insurance. ^Travel times are taken from google.co.uk/maps and are approximate only. Images and CGI’s are for illustration purposes only. †Cash back available when you reserve specific apartments, the amount is removed off the completion funds & eligibility criteria applies. Shared Ownership T&C’s apply. See sng.org.uk for details.

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: