Shared Ownership

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First-time buyers who are finding it increasingly hard to get onto the property ladder are now able to purchase property via the new government-backed Shared Ownership Scheme.

It is designed to remove the need for a large deposit for those who are struggling to afford a property of their own.

Under the scheme, potential first-time buyers have the option of purchasing a small percentage of a property – which is normally between 30% and 50% – and then pay rent and a small service charge towards the rest. The monthly repayments include both rent and mortgage fees, which makes it more affordable than having to pay a mortgage on the full value of a property.

There is also the option to increase the share of the property you own at any time, which can further reduce your monthly repayments.

Who Is Eligible?

Firstly, you must not own any part of a property already, and be intending to live in the Shared Ownership property that you purchase. e.g., a first-time buyer.

There are two types of Shared Ownership available:

  • Shared Ownership available to keyworkers (examples of these include nurses, The Police, teachers, social workers, prison officers, etc.)

  • Existing council and Housing Association tenants have priority and can be recommended by a Help to Buy agent.

For both types of Shared Ownership you would need to be registered with your local Homebuy agent which you can find via