Help to Buy Shared Ownership is a fantastic way to start out on the property ladder if you can’t quite afford the mortgage on 100% of a home.
Put simply you part buy, part rent your home. You purchase a share, usually between 25% and 75%. You then pay a proportionate rent to us for the share you don’t own.
How much rent will I pay?
Rent is paid on the share of the property we own. If you buy an initial 50% share you will pay rent on the remaining 50% share - the amount of rent depends on the value of your home and is reviewed annually in line with inflation.
Shared Ownership is also sometimes called new build homebuy.
Own more of your home
You can buy greater shares in your home as and when you can afford to. This process is called Staircasing. In many cases, you can eventually own 100% of your home outright, at which point you will pay only your mortgage, but no rent*.
*Service charges or management fees may apply.
Is it just for first time buyers?
Shared Ownership homes are often popular with first time buyers. However, we also recognise that circumstances can change at any time in your life so our schemes are not exclusive to first time buyers. Shared Ownership could ensure you remain on the property ladder even through difficult times such as a relationship breakdown or a change in financial circumstances.