Shared ownership is a scheme delivered by Housing Associations to help people buy their own home, where the buyer will purchase a share of the property ranging from 25% - 75% of the house using a deposit and paying a mortgage in the usual manner. The share bought will be determine by an affordability assessment carried out during the application stages. Rent is then paid on the remaining percentage of the house that the housing association still owns a share of. People can build up their share to eventually own 100% and be the owner of the house.
There are certain criteria which must be met to be able to qualify for a shared ownership home;
For more information about whether you'd be eligible to buy a property on the shared ownership scheme, just click here.
Page last updated: 30 November 2016