Shared ownership helps people who cannot afford to buy a home outright. Through shared ownership you buy a share of the property and pay rent on the remaining share you do not own. Gradually you may buy further shares and eventually own your home outright. This is called 'staircasing'.

To join the scheme you must be in housing need and be unable to afford outright purchase. Priority will normally be given to existing public sector tenants or those on local authority or social landlords' waiting lists.

Although you have not bought the property outright, you will have the normal rights and responsibilities of a full owner-occupier.

Remember, house prices can go up or down. This means that you might pay more for buying additional shares or have to sell at a price less than you originally paid.

For information on new and existing shared ownership properties you will need to register with the Shared Ownership Homes scheme, see website details below.

The charge to register with Shared Ownership HOMES is £30, including VAT.

Who is eligible to register?

You could be eligible to register if you are currently employed (or you have sufficient other means to finance your mortgage) but cannot afford to buy a suitable property on the open market.

Priority is usually given to council or housing association tenants, those on the council waiting list, first-time buyers and those that need to move for social reasons such as overcrowding or to receive support.

If you have a County Court Judgement out against you, or you are in rent arrears, you are unlikely to be able to purchase a shared ownership property.

As a shared owner, your home may be at risk if you fail to keep up mortgage and rent repayments.

You can also buy a shared ownership property from an existing owner wishing to sell.

Who runs these schemes?

Most shared ownership schemes are run by non-profit making organisations, who are registered with the Housing Corporation, a public body which monitors and provides finance to these organisations. All of our preferred partners  have a number of these schemes.

Useful links

Circle Anglia Housing Group

Are a partnership of housing and service providers, with over 33,000 properties in London, the South-East, Herts, Beds and East Anglia

Housing Corporation

This website is about the Housing Corporation, which is a public body who monitors and provides finance to shared ownership scheme organisations