It’s not always possible to afford the full purchase price of your new home straight away, so shared ownership is available to give a helping hand.

Shared ownership in England allows you to purchase a share of your home. This is usually between 25% and 75% of the property’s value and you then pay rent on the remaining share.

As you are buying a share of the property, the deposit amount needed will be smaller which make this option more affordable.

If in the future you decide to buy further shares in your home, you can do this in stages or all at once – this is called staircasing.

Example:

  • Purchase price £200,000
  • You purchase a 60% share = £120,000 funded through a combination of deposit and mortgage
  • You rent the remaining 40% share from us = £80,000 x 2.5% rent (varies) = £166.66 per month

If you’d like to find out if shared ownership is right for you, you can take NHF’s quiz: www.sharedownership.net/quiz

To find out more or get in touch

Speak to our sales team at the development you are interested in to find out if they have shared ownership properties available.

Shared Ownership

Shared ownership FAQs

Shared ownership is a great way to get onto the housing ladder if you can't afford the full purchase price of your home straight away.

With shared ownership you purchase an initial share of your home, between 25% and 75% of the property’s value and then pay a rent on the remaining share. It’s a simple and cost effective way of owning your own home.

Even better, because you are buying a share of the property the deposit you need to have saved is smaller too.

If you wish to in the future you can decide to buy further shares in your home in stages or all at once, this is called staircasing.

You can apply to buy with shared ownership if:

  • You are a first time buyer
  • You are an existing shared owner moving to another shared ownership home
  • You have previously owned a home but needs help buying a new one
  • You have a combined household income less than £80,000
  • You are able to afford the mortgage, rent and service charges

This will vary depending on your circumstances. An Independent Financial Advisor will carry out a financial assessment and affordability calculator to determine the exact share you can afford to buy. They will also carry out a basic affordability check with the most appropriate lender, to ensure you are able to secure a mortgage to assist with your purchase.

Absolutely. You can choose to increase the amount you own gradually, until you own 100%. The cost of the additional shares will depend on the current market value of your home at the time you wish to buy more. By doing this you reduce the rent you are paying as you buy more of the home.

You will have a shared ownership lease which tells you your rights and responsibilities which include being responsible for the maintenance and repairs on your home as well as paying your rent, service charges and your mortgage payments.

Contact our Sales Team at your nearest development who’ll talk you though the scheme, answer any questions you may have and even help you to purchase a beautiful new home.

Find your nearest development.