Shared ownership resales
Think you can’t afford to buy a home in London or Southern England? You could buy a share in a home to get your foot on the property ladder.
Buy with a smaller deposit
You only need to get a mortgage for the share you want to buy. Your deposit will still be 10%. But only 10% of the value of your share, rather than 10% of the value of the whole property.
Get on the property ladder
What you pay each month for shared ownership often works out similar to what you'd pay renting. Plus, if your property increases in value, the value of your share will be higher when you sell.
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How does shared ownership work?
You buy a share of your home and rent the rest of it from us.
You’ll need to apply for a mortgage to pay for the share you want to buy. Each month, you’ll need to pay your mortgage and the rent. If you decide to sell, you’ll get the market value for your share.
You can increase the share you own at any time. This is called staircasing.
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What would it cost?
As an example: if you wanted to buy a 40% share in a modern, 1 bedroom apartment in London valued at £280,000, you’d need to get a mortgage for £113,000. Your 10% deposit would be £11,300.
Each month, you’d pay your mortgage of £602* + approximately £380 rent + £195 service charge. Total: £1,177
Renting the same apartment would cost you £910 a month. This includes the service charge.
Shared ownership usually costs about the same or a little bit more than renting, but you own a share of the property that you can sell at any time.
*Your mortgage repayments depend on your mortgage deal. Here we’ve calculated it as a 3.5% interest repayment mortgage over 25 years.
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Who's eligible for shared ownership?
You should be able to buy a shared ownership property if:
- You earn between £30,000 and £80,000 a year (£90,000 in London) as a household
- You’ve never bought a home before, or you can’t afford to buy one now, or you’re currently a shared owner
- You have enough savings to cover a deposit and around £4,000 for fees
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I’m interested and eligible, what’s next?
First, you need to check you can afford to buy a shared ownership home. You can contact us to connect you to an independent financial adviser who can help you with that. Or speak to a local Help to Buy adviser.
You can also use this mortgage calculator.
Next, you need to find a property you want to buy. See all our shared ownership homes.
"You feel different walking in the door each day to a home you own. You know you have long-term security and stability."
What to expect when you buy from us
- A quality home and a smooth process. We’ve won awards for our housing developments and our service as a landlord.
- Support throughout the buying process. From connecting you to an independent financial adviser to helping with the paperwork.
- Prompt and helpful service if you decide to sell or increase the share you own.
What else is new?
Share the cost of buying your home without compromising on design or finish with our new-build shared ownership properties from FABRICA.
Find a home to buy
More information on the government's Help to Buy scheme is available at helptobuy.gov.uk.