Shared ownership is an affordable home ownership initiative, where the buyer buys a percentage of the home and pays rent on the percentage of the home they do not own.

How Shared Ownership works

Shared Ownership allows you to buy a share in your own home and pay a reduced rent on the remainder of the property.  Then, as and when you can afford to do so, you can buy additional shares in your property until you own it outright. As you buy additional shares in your home, your rent reduces.

Who is shared ownership for?

Shared Ownership is a simple, affordable way to own your own home without needing a large mortgage or deposit. The scheme is aimed mainly at first time buyers who cannot afford to buy a home outright but would like to get a foothold on the property ladder.

Financial illustration

Shares typically start at 25% although most people buy anything between 35% and 75%.  Deposits are based on the percentage share you buy and are determined by which mortgage provider you use.