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Understanding Shared Ownership

Shared Ownership enables you to buy a share in a new home; with shares starting from 25% depending on affordability.

Buying a Shared Ownership home means that you are only required to secure a smaller mortgage to buy a new build home, which means a reduced deposit too.

Once you’ve purchased your home, we encourage homeowners to ‘staircase’ – this simply means buying more of the property when / if financially possible.

The higher the share you own, the less rent you will pay to us. Once you’ve successfully purchased 100% of your home you will no longer be required to pay rent – following this we will dissolve your lease agreement, meaning you’re a full-fledged homeowner.

We’ve so far helped hundreds of aspiring homeowners to purchase a new build home through Shared Ownership across Cheshire, Merseyside and West Lancashire. And a number of our homeowners have already ‘staircased’ to 100% already!

Shared Ownership is a great solution if you can’t afford to buy a property outright. Depending on affordability, the scheme allows you to buy a share of a new home whilst paying reduced rent on the remaining share.

We’ve provided some FAQs which you may find useful:

Q. Am I eligible for Shared Ownership?

A. Shared Ownership typically helps first time buyers who are in employment, earning less than £80k a year, who can’t afford to purchase a home outright in their chosen location or to meet their housing need. This often includes people who are renting either privately or from a housing association and also those who might be living with family or friends.

As well as first time buyers, those who already own a property may be eligible if they are unable to purchase a larger or smaller property which also meets their housing need.

You can find out more by visiting or we can advise you of your eligibility if you require further guidance.

Q. How much of my home will I own?

Shares are available from 25% to 75% initially. The share you purchase will depend on affordability which will be calculated during the application process. After your initial share purchase you will then be able to own your home outright by ‘staircasing’ to 100% is financially possible.

Q. How do I get a Shared Ownership mortgage?

We do not provide mortgage or financial advice but we can signpost you to independent advisors. You don’t have to use the companies recommended – you can of course seek your own financial advice. We will provide you with this information as the sale progresses.

Q. Can I buy more shares?

We encourage homeowners to ‘staircase’, buying more shares when financially possible. The more shares you purchase, the less rent you will pay us. Once you have successfully staircased you will no longer pay us rent and own your property outright.

Q. What are my responsibilities are a Shared Ownership homeowner?

You will be responsible for the overall maintenance and repair of your home. You will also be required to act in accordance with the Shared Ownership lease which you will sign upon entering your mortgage and homeownership agreement. The lease outlines that you must pay your mortgage, Shared Ownership rent and any service charges that may be in place. If you don’t keep up your rent and mortgage repayments you may risk losing your home.

As part of buying through Shared Ownership, we advise that you speak to a solicitor prior to entering into the agreement, to ensure you are happy with the responsibilities outlined. We can signpost you to experienced solicitors who have a proven track record of Shared Ownership – again, you may wish to use your own solicitor.

Q. What happens if I want to sell my Shared Ownership home?

A. You are able to sell your Shared Ownership home on the market at any time. You can sell the share you own at the current market value to an eligible Shared Ownership buyer. However, if you have staircased you are eligible to sell your home on the open market. The process for selling your home will be set out in your lease. We’re also on hand to guide you through the process and provide support if / where possible.

Find out more today

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If you require more information surrounding Shared Ownership call us today on 0333-733-8888 or email

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