Everything you need to know about shared ownership

Getting on to the property ladder nowadays is certainly not as easy as it once was. With banks more reluctant to lend and minimum required deposits now at the very least, 10%, for first-time buyers the market may seem altogether quite limited.

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With many young people predicted to be renting well into their 40s and city areas often being the hardest hit, drastic changes are needed to help repair a housing crisis that has impacted everyone from millennials to pensioners. However, there are solutions out there and one that has significantly benefitted first time buyers or those on lesser incomes is Shared Ownership. But how does this scheme work, what are the benefits and how can you find your dream home at the perfect price with the government strategy?

What is Shared Ownership?

This scheme is ideal for anyone looking to get onto the property ladder but doesn’t quite have a lifetime worth of savings to afford it. Shared ownership allows you to part buy part rent a home in various areas all over the UK and ease your way into home ownership without any added stress. The scheme works by allowing you to buy between 25-75% of a property while you rent the rest from a housing association. These housing associations are non-profit and are dedicated to providing affordable housing for everyone and so you are sure to never pay an unfair price in tenancy even if you live in a highly sought-after area. In addition to this you will only be required to pay a deposit on the part of the house you own so for 50% of a £200,000 property you will put down a deposit of just £10,000 compared to the usual £20,000.

These homes range from cosy city apartments to big family houses in the suburbs so you can make the best decision for you and your family’s future without having to compromise on price. You can also find these properties on many different sites including propertybooking.co.uk and orginsales.co.uk with plenty more guidance and advice on how to apply and the homes available from shared ownership in Brighton to Manchester.


Another advantage that comes with shared ownership is the opportunity to move up the property ladder and buy more of your home over time at a rate that suits you. This is called staircasing and can be done by getting in touch with the housing association that owns the remaining portion of your home. You can staircase up to 100% in some cases and later sell on your home once it has increased in value under your own chosen estate agent. With the freedom to increase your ownership of the home by 10% instalments each time, it makes moving up the property ladder are far more simple process than relocated every few years.

Shared Ownership in London

Living in the capital has never been more difficult whether you rent or are looking to buy a home. But with the new Homes for Londoners scheme you can find yourself the perfect shared ownership property whether you are in the centre or a surrounding borough. However, if you are not quite ready to buy a part of a home yet, you can take advantage of ‘London Living Rent’ which charges low tenancy costs and prioritises you when you do come to move on to shared ownership.

Shared Ownership is a fantastic opportunity for any first-time buyer, whether you’re looking for somewhere in London or a place a little more rural. By checking out the different offers out there you can find your dream home at a dream cost in no time.