Shared Ownership

Take your first steps into home ownership with one of our Shared Ownership homes.

Customer with child in 2022

Helping people buy their homes with a small deposit

Do you want to buy your own home, but are struggling to afford it? A Shared Ownership property with us may be the answer you’ve been looking for.

What is Shared Ownership?

With a traditional mortgage, you put up a deposit and get a mortgage for the rest of the property, so you buy 100% of that property.

With Shared Ownership, you buy a share of your property between 25%-75%, depending on what you can afford, and then pay rent at 2.75% on the remaining share. This means that you need a smaller mortgage, and a smaller deposit.

You can then buy more shares as and when you can afford them, and as you buy more shares, you pay less rent.

Eventually, you can own 100% of the property, at which point you’d only pay a service charge (if your property has one) but no rent! 

What share will I need to buy?

The share you will need to buy will vary based on your personal circumstances and what you can afford.  

Here’s an example: Let’s say you buy one of our homes which is valued at £150k; If you chose to buy that at 50% ownership based on your financial situation, you would pay:

  • The cost of your mortgage for the 50% share you’ve bought, minus any deposit you have paid.  
  • Your rent to us, which as 2.75% of the remaining 50% share we own, is £172 per month.
  • Your normal bills for water, gas, electricity, council tax, internet etc.
  • Any service charges to cover communal areas of your development. 

How do I apply?

Take a look at the developments we have available below and register your interest. When we’re ready to launch we’ll be in touch with further details on how to apply.