Shared ownership

Shared Ownership provides an affordable route into home ownership and offers an alternative to renting.

You buy* a share of a home and pay rent on the part that you do not own.

The initial share purchased is usually between 25% and 75%. Some developments may have shares available from 10% where advertised. You will be required to complete an affordability assessment with a suitably experienced and qualified financial advisor, from bpha’s panel of advisors, to ensure the share you are purchasing is affordable and sustainable for you. This part of the service is free. You are not obligated to instruct one of our panel financial advisors and may wish to choose your own. In the future, you may choose to purchase more shares – a process known as ‘staircasing’ – or you can sell your share of the property based on its value at the time.

*You will be granted a lease

• Your combined monthly costs (mortgage, rent, and service charge) will often be lower than if you rent privately
• You own part of your home rather than paying rent with no return, meaning that you have tenure security and are able to make the home your own!
• You will need a lower deposit than if you were buying a home outright
• You buy* a share that is affordable to you meaning that you do not stretch yourself financially
• You may be able to purchase up to 100% after your initial purchase. Please check at the time of reservation as some leases are restricted to 75%/80% ownership
• The rent you pay is a subsidised rent – usually set at 2.75% of the share you do not own. This may differ for resale properties, with rent reviewed yearly in line with the lease.

Shared Ownership is a government-backed scheme that has helped thousands of people find a place to call home.

*A lease will be granted

To check if you meet the government’s criteria for Shared Ownership, click here.

You can buy a home through Shared Ownership if the following are true:

• Your household income is £80,000 a year or less
• You are over the age of 18
• You do not have any outstanding bad credit
• You cannot afford all 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.