Whether you’re a first-time buyer, a growing family, or looking to downsize, Shared Ownership offers a financially secure and affordable path to homeownership.
We partner with you to make buying your own home more affordable. You pay for what you can afford, and we help with the rest. This makes buying the perfect home easier without needing a big deposit or a hefty mortgage. It’s an excellent opportunity to find the right home without the financial stress.
Shared Ownership might be the right choice if:
You buy a share in the home that’s right for you. That could be from 10% initially, but it’s typically between 25% and 40%. You’ll pay a reduced rent on your share and a monthly service charge for communal areas and shared outdoor spaces if applicable.
As you can afford it, you can buy more shares in your home through a process called ‘staircasing’. This allows you to gradually increase your ownership of the property. Each time you purchase additional shares, your rent decreases, and you own more of your home.
Shared Ownership offers a more manageable deposit. Typically, you’ll only need a deposit of 5% of the value of your share rather than the total property value, making it easier to move sooner than you thought.
When you’re ready to start your Shared Ownership journey, rest assured that there are seven simple steps to finding your new home. We’re here to guide you every step of the way.
Sign up for property alerts on our website. We’ll email you when a great home in your area becomes available. Alternatively, count on our friendly team of sales consultants for expert guidance and support from the start of your Shared Ownership journey to the exciting move-in day.
Once you’ve found your perfect home, there are two simple steps to apply:
Once we’ve received your application, your sales consultant will contact you to discuss the next steps to secure your new home.
Upon receiving the fantastic news, you’ll get a reservation form to fill out and a reservation fee to secure your future home. It usually takes about six weeks to finalise all the legal matters and get ready to move in, depending on when your home is built.
You’ll need a solicitor to handle the legal aspects of buying your new home. Once you’ve chosen one, they’ll need written confirmation from us that your purchase has been approved and a plot has been offered. We’ll send you all the information you need about the solicitor working on our behalf so both parties can communicate directly and handle the purchase smoothly.
Your lender will arrange for a mortgage valuation, and together, we’ll agree on a timescale for you to get a mortgage offer and exchange contracts with your solicitor. This will help us all stay on track. You can speed things up by sending us a copy of your mortgage offer as soon as you receive it from your lender.
Once we have all the necessary documents, it’s time to exchange contracts. You’ll sign an agreement to buy the home, and we’ll sign one to sell it. Your solicitor will request your deposit. When we exchange contracts, we’ll agree on a completion date (when you officially become the owner of your new home). This usually happens three or four weeks after the exchange, or if your house is still being built, we’ll keep you updated on its progress.
Congratulations – this is the big day when you’ll get the keys to your new home! We’ll arrange to meet you at your new place to hand over the keys and guide you through your new home and its essential features. We’ll also check all the meter readings and notify the utility companies that you’re the new owner.
We’d love to hear from you! Whether you have questions, need more information, or want to schedule a visit, our sales team is here to help. Contact us today, and let’s find your perfect home together.