Shared Ownership
Take your first steps into home ownership with one of our Shared Ownership homes.
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.
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 would Shared Ownership work for me?
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Check your eligibility: Start by making sure you meet the basic criteria, like income limits and residency requirements. Once you know you’re eligible, you can move on to finding a home.
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Find a home you like: Browse Shared Ownership homes until you find your dream home.
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Reserve your dream home and choose a legal professional: Once you've found your dream home, you then need to find a conveyancer or solicitor who will handle the legal side of things.
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Arrange your mortgage and understand the rent: Get to grips with what your mortgage and rent payments will look like. For example, if that dream home is worth £200,000 and you choose to buy £100,000 of it, you'll be paying 2.75% rent to One Manchester for the share we own - that works out at £230 rent per month.
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Complete your purchase: Once all your paperwork is signed and everything is agreed, it’s time for your completion day — the moment you get the keys and can move into your new home. Our friendly team will be there to hand over the keys and welcome you to your new home.
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.
Useful information
Sometimes our scheme offers homes on a range of tenures, so means you may be able to purchase either Shared Ownership or Rent to Buy, and you can find the best property for your needs.
It could be the best move you make. Your new home is from a dedicated, caring landlord. You’ll be kept informed right through the process, have access to a range of services beyond housing, and get personalised advice and care.
We’re regulated by the Government to ensure we provide equal services for our customers.
