Shared Ownership

Shared Ownership provides a way of buying a percentage of your home (if you cannot afford the full amount) and then paying rent on the remainder until such a time that you can buy a larger percentage of your home.

You will pay rent to the Local Authority on the remaining share that is not mortgaged and you will have the option to purchase more of the share in the future. This process is done by conveyancers and is referred to as ‘stair-casing’, which all of our offices can assist you with.

Key points for Shared Ownership

  • Percentage of Shared Ownership must be from 25% to 75% of the properties value;
  • The household must be earning less than £80,000 outside London or £90,000 in London;
  • To qualify you must be a first time buyer, not able to buy a property or are already in the Shared Ownership scheme;
  • New or existing properties can be bought through Housing Associations;
  • A mortgage or savings will be required to pay your percentage of the Shared Ownership; and
  • All shared ownership properties are leasehold.

Am I eligible for Shared Ownership?

Your household must earn £80,000 or less per year and situated outside of London. For households in London this threshold for household income must not exceed £90,000. You must be either a first-time buyer or an existing shared owner looking to move. Therefore, properties available will either be new builds or resale shared ownership properties.

If you’re looking to purchase a shared-ownership property enquire through the Government’s website and contact a local Help to Buy agent.

Home ownership for people with long-term disabilities (HOLD)

If as a result of a long-term disability you require a property with particular housing criteria, then you can buy a home that meets your needs and is on a shared ownership basis. It must be evident when applying for HOLD that the alternative shared ownership properties available do not meet your needs.

Older People Shared Ownership

If you are aged 55 or over you can benefit from the above scheme. Similarly to the general shared ownership scheme you can purchase up to 75% of the property however, once you own a 75% share you will not need to pay rent on the remaining 25% share.

Request a quote

For further help and advice on the Help to Buy Shared Ownership scheme or to request a quote please contact your local Conveyancing Team on:

  • Peterborough  01733 882800
  • Huntingdon     01480 411224
  • Oundle            01832 273506
  • St Neots          01480 702207
  • Cambridge      01223 463183

Or email the Residential Conveyancing Team directly at:

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