Shared ownership is designed to help people who may be currently renting or looking to set up home who cannot quite afford an outright mortgage to buy their own home.

With shared ownership:

  • you will own part of your home rather than paying rent with no return
  • you will only need to secure a mortgage for a percentage of the property price rather than the whole amount, making it more affordable in the short term
  • you will need a much smaller deposit than you would if you bought the property outright
  • the combined monthly mortgage and rent payments of shared ownership usually work out cheaper than buying outright.  They are often less than renting a similar property privately
  • you can buy additional shares in your home, in most cases.  As your income increases you can buy more of your home which means that one day you could own your home outright. The more of your home you own, the less rent there is to pay
  • you only buy the share you can afford so you don’t overstretch yourself financially.

Read our guidance notes for customers to find out more.

You can also visit our shared ownership homes page to see our current shared ownership properties available.