Shared ownership is another way to buy a home without having to fund all of it. You can choose how much of the property you want to purchase and we own the rest.
When you buy a shared property you can choose the size of the initial share in the property (usually 25, 50 or 75%) and pay a monthly occupancy payment on the remaining share.
You then have the opportunity to purchase further 25% shares or the remainder of the property. The occupancy charge reduces as you increase your share of the property.
Who is eligible?
Priority is normally given to:
- first-time buyers
- people living in rented accommodation
- people who have experienced relationship breakdown
- people who cannot meet their housing needs on the open market
Applicants normally need a household income of at least £15,000 a year to be considered for shared ownership. We will undertake an assessment to ensure that your monthly housing costs do not exceed 40% of your net monthly income.
If you would like more information about shared ownership please contact us.