What is Shared Ownership?

Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. We own part of it - but you're living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. We'll help you work out what share you can comfortably afford, but you can increase your share later if, for example, your income goes up (this is known as staircasing).

Can I choose the kind of property I want to buy?

We offer range of different property types and sizes, you an see the full range of what is currently available in the Shared Ownership section of the site.

Can I choose where I want to live?

Local Authorities across London have different priorities when it comes to the people they want to house; such as those who live or work in the borough already. You can tell us which borough you'd prefer to live in on your application form and we will be able to tell you if any eligibility criteria apply for that area.

How much will a Shared Ownership home cost?

On a monthly basis, owning with a Shared Ownership is usually equivalent to the cost of renting a similar home privately, with the added benefit that you own a share in the home’s value.

Take a look at the cost of the Shared Ownership homes we’re currently selling.

Are there any restrictions on these homes?

Yes, we’ll explain the terms of your purchase in more detail when you apply. Examples include –

  • You can’t sub-let your home
  • You need permission to make any structural changes to the property
  • Permission may be needed for pets if you’re buying an apartment

Do I have to share my home with anyone else?

No! That’s not what Shared Ownership means! The shared part just means we own a share of your home and so do you.

You can, of course, apply to make a joint purchase – shared ownership – shared home – shared chores 😉

NEXT: are you eligible for Shared Ownership?