Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Elm Vale

by Riverside Housing

Ainsdale, Merseyside, PR8 3RH

2 & 3 bedroom houses

£56,250 - £62,500 for a 25% share
(£225,000 - £250,000 Full Market Value)

Modern living is at the heart of Elm Vale. Our thoughtfully designed 2 & 3 bedroom homes include a range of layouts to suit different lifestyles including light, airy open plan living spaces and kitchen-diners that are flooded with natural light. All our homes come with gardens and parking and are built to the highest standards. There is something for everyone at Elm Vale; first time buyers, families looking for a little more space as well as those looking to downsize to a smaller, easy to manage home.

Shared ownership

Amour Court

by Barnard Marcus

London, Greater London, NW10 7RW

1 & 2 bedroom apartments

£80,000 - £98,750 for a 25% share
(£320,000 - £395,000 Full Market Value)

WHY RENT WHEN YOU CAN BUY | Offering the best of open-plan living, this fantastic development of 1 & 2 bedroom Shared Ownership apartments is in one of the most exciting regeneration areas of London, conveniently placed in Zone 3, you'll benefit from excellent connectivity with access to cycle paths along the canal into London, a nearby bus stop, and plenty of London underground station options, allowing you to travel with ease, including the forthcoming HS2. Stylish indigo and white kitchen units provide plenty of space with fully integrated appliances including an electric oven, hob, extractor fan, dishwasher and fridge/freezer; a free-standing washer/dryer is located in the utility cupboard. Bedrooms are bright and spacious, with built in wardrobes offering plenty of storage. The development further benefits from peaceful communal gardens and private balconies to the apartments with far-reaching views. SHARED OWNERSHIP: You buy the share you can afford and pay rent on the share that's left. BENEFITS INCLUDE: Affordable monthly mortgage payments (compared to full ownership) | Ability to buy more shares in your home via staircasing | Opportunity to build your equity Shared Ownership could be for you if: You are over the age of 18 | Your household income is less than £90,000 | It will be the only property you own *Cash back is plot specific, T&Cs apply ask for details. Images and showreel for demonstration purposes only.

Shared ownership

Stories Wharf

by Hyde New Homes

North Woolwich, Greater London, E16 2JS

1, 2 & 3 bedroom properties

From £74,000 for a 25% share
(From £296,000 Full Market Value)

Ready to move in, Stories Wharf offers an exciting new collection of studios, 1,2,3 bedroom apartments and triplexes available to buy through shared ownership in North Woolwich. Benefit from waterside views, fast connections around London and an emerging neighbourhood part of the Royal Docks. Set in a prime waterside location overlooking the River Thames with cityscape surroundings and fast journey times around London, Stories Wharf has plenty to offer. And as part of the wider £5 billion Royal Docks regeneration, living here means you will be in the centre of this vibrant and rapidly evolving riverside neighbourhood. With its enviable location, Stories Wharf offers the opportunity to invest in your future, surrounded by a host of London’s amenities a short journey away. From river views to iconic landmarks such as Canary Wharf, Thames Barrier and The O2 – the scene is set for all the stories yet to write. Priced from £74,000 for a 25% share. To speak to a member of our sales team, please register your interest. Marketing Suite and Show Home open to view Tuesday – Saturday, 10AM – 4PM by appointment only. Start Your Own Story • Allocated secure undercroft parking to selected homes • Cycle storage and electric car charging points • Private balconies, terraces or patios to all homes • Landscaped communal garden • Shared roof terraces • Communal solar panels and energy efficient homes • Views over the River Thames to selected home Your New Chapter • Zone 3 location with various rail lines, including the Elizabeth Line, to travel into Canary Wharf in 15 mins • Well positioned for transport, shops, schools and local parks • Located close to London City Airport, City Hall, ExCel Centre and the IFS Cloud Cable Car • Community activities, facilities and sightseeing available across the river in nearby Woolwich and Greenwich Discover The Hyde Difference • Over 90% customer satisfaction for 13 consecutive years • Experienced in-house sales team to help you with the process to owning your own home • Option to purchase more shares and own your home outright at any time • High specification as standard • Contemporary kitchen units with integrated appliances • NHBC warranty • 999 year lease • Quality flooring included

Shared ownershipGreen features

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: