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Shared Ownership

Shared ownership doesn’t mean you have to share your home with anyone. You will become a home owner and enjoy all the benefits that comes with this.

If you can’t quite afford the mortgage on 100% of a home, the Help to Buy: Shared Ownership scheme offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

This means:

  • Your home will be an investment for you, which isn’t the case when you are renting a property.
  • Your mortgage will only be for a percentage of the property price, instead of being for the whole amount. Which will save you money in the short term.
  • Your monthly repayments will be cheaper as your mortgage will be smaller and so will your rent too. This usually means you are paying less than if you bought the property outright or were renting a similar property.
  • Your deposit will be much smaller than if you brought the property outright.

You could buy a home through Shared Ownership if your household earns £80,000 a year or less and you are a first-time buyer. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold. - See more at: Help to Buy : Shared Ownership.

All shared ownership properties are registered by Orbit.