Shared Ownership
Shared ownership gives first time buyers the opportunity to purchase a share in a new build or resale property. The initial share can usually range from 25-75% or in some cases buyers can purchase an initial 10% share.
Is Shared Ownership suitable for me?
You can buy a home through shared ownership if both of the following are true:
- your household income is £80,000 a year or less (£90,000 a year or less in London)
- you cannot afford all of the deposit and mortgage payments for a home that meets your needs
One of the following must also be true:
- you're a first-time buyer
- you used to own a home but cannot afford to buy one now
- you're forming a new household - for example, after a relationship breakdown
- you're an existing shared owner, and you want to move
- you own a home and want to move but cannot afford a new home that meets your needs
For some homes you may have to show that you live in, work in, or have a connection to the area where you want to buy the home.