Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

OVER 60% SOLD - DON'T MISS OUT!

Discovery Fields

by Orbit Homes

Haddenham, Cambridgeshire, CB6 3SS

2 & 3 bedroom houses

from £76,625 for a 25% share
£306,500 - £372,500 Full Market Value

OVER 60% SOLD - DON'T MISS OUT! We’re delighted to introduce this limited collection of 2- and 3-bedroom affordable homes in the rural village of Haddenham in Cambridgeshire, available exclusively through the Shared Ownership scheme. All carefully designed and built with our new all-inclusive specification, these homes offer a fantastic opportunity to own your own home in this popular and well-served village, with its array of essential amenities and transport links to Ely, Cambridge and Huntingdon. With a limited number of homes available to purchase we expect these to sell fast, please register your interest to receive more information as it’s released! 2- & 3-bedroom houses available with Shared Ownership Rural village location - 7.5 miles to Ely and 15 miles from Cambridge Wide range of amenities within the village including primary school, shop, pub and GP. Only 3 miles to the A10, connecting with the A142 & A14 High specification interiors with contemporary fittings

Shared ownership

The Hue

by Fabrica

Hounslow, Greater London, TW3 3NR

2 bedroom apartments

From £124,375 for a 25% share
(From £497,500 Full Market Value)

77% sold now. Don’t miss out on the vibrant collection of 2-bed apartments at The Hue, available for Shared Ownership, located in the heart of Hounslow. Every home at The Hue is a thoughtfully designed 2-bedroom Shared Ownership apartment, featuring a bright open-plan kitchen, living and dining area that’s perfect for modern living. Each apartment benefits from underfloor heating throughout, Hyperoptic broadband availability, and a private balcony for your own outdoor space. The master bedroom comes complete with a fitted wardrobe and stylish en-suite, while higher floor apartments enjoy striking skyline views. With contemporary finishes and smart layouts, these homes balance comfort, style and convenience in every detail. Well Connected* Hounslow is ideal for commuters and culture lovers alike. The Hue offers excellent links to Central London while being surrounded by independent shops, cafés and restaurants.Hounslow Central Station - 6 min walk (Picadilly line)Hounslow Train Station - 11 min walk (South Western Railway)Heathrow Airport - 16 mins by TubeLondon Waterloo - 35 mins by trainPicadilly Circus - 38 mins by Tube Explore the green spaces & landmarks in the area Discover historic estates like Osterley Park and Syon Park, or unwind in the vast landscapes of Bushy Park, home to waterways, gardens and roaming deer. The area also offers Hounslow Heath and 10 local nature reserves, with the world-renowned Kew Gardens just a short journey away. Register your interest to find out more. *All times and distances have been taken from Google Maps All imagery is indicative only.

Shared ownership

Prime Point, Shared Ownership

by L&Q

Greenwich, Greater London, SE10 0JT

Studio, 1 & 2 bedroom apartments

£86,000 - £136,000 for a 25% share
£344,000 - £544,000 Full Market Value

Prime Point, Greenwich PeninsulaA brand new collection of Manhattan Studios, 1 & 2 bedroom Shared Ownership homes designed for modern London living.Prices from £86,000 for a 25% share of £344,000. With a minimum deposit of £8,600.Each home offers private outdoor space, fully integrated appliances and concierge access. Located just an 8-minute walk from North Greenwich Underground Station, Prime Point places the best of London right at your doorstep.Enjoy a sanctuary by the river in a Zone 2/3 location that brings the city's brightest experiences closer than ever.Book a viewing today: lqhomes.com/primepointKey features:Concierge availablePrivate outdoor space to all homesFully integrated appliancesLandscaped communal gardens and bright open spacesOverlooking the beautiful Central Park8 minute walk to North Greenwich Underground Station, Zone 2/3Only 9 minutes to Canary Wharf via the undergroundWith the IFS Cloud Cable Car nearby, Greenwich Peninsula provides a unique and scenic mode of transportGreenwich Park, an iconic landmark, is just an 8-minute cycle awayWith The O2 arena right at your doorstep, London's iconic live music venue, you'll enjoy convenient access to numerous shops, cafes, bars, and restaurants nestled within What is Shared Ownership?Shared Ownership is for anyone who doesn't currently own a home. If you want to get on the property ladder, but can't afford to buy outright on the open market, then Shared Ownership could be for you. Under the Shared Ownership scheme you part-buy/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%.Book your viewing today! *Shared Ownership terms and conditions apply. Prices start from £86,000 for a 25% share of a Manhattan Studio apartment at Prime Point. Full market value of £344,000. 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: