Shared Ownership is a part-rent, part-buy scheme supported by the government. It helps people buy an affordable share of a brand-new home and get on the property ladder.
Shared Ownership is an alternative to renting or buying a home on the housing market.
You buy an affordable share in a brand-new home, usually between 25% and 75% of the home’s value. Your deposit may be as low as 5% of the value of your share.
You also pay a reduced rent on the remaining share that we own.
This means your deposit is smaller and your mortgage repayments are lower, so it is easier for you to get on the property ladder.
You decide whether you want to buy more shares in the future. But the more shares you own, the less rent you will pay.