About Affordable Property & Homes in the United Kingdom

Shared Ownership

Shared-ownership is a great way into home ownership. If you can't afford to buy outright, you can part buy and part rent your home.

You might buy 25%, 50% or 75% share in your home. You pay a small rent on the share that you don't buy. The bigger the share that you purchase, the less rent you have to pay. The monthly cost of buying a 50% share is about two-thirds of what you would pay on a mortgage if you bought the property outright. When you can afford to do so, you can buy more shares until you own your home outright.

Who can buy shared ownership housing?

Shared ownership housing schemes are usually intended for people who cannot afford to buy a suitable home in any other way. Applicants must usually be in housing need and be unable to afford outright purchase. Priority will often be given to people on local authority or housing association waiting lists.

Resources

Affordable Home Advice contains over 50 articles written by experts.

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