Shared Ownership explained


With the housing market set to welcome plenty of new first time buyers this year with many young professionals and small families taking advantage of the numerous buyer schemes out there, shared ownership has become increasingly popular over recent years. When planning on buying your first home it’s always good to shop around and really get to know your options when it comes to pricing and government schemes and shared ownership is no different. With millions of first time buyers already taking advantage of what this scheme has to offer, you’ll certainly be doing yourself a favour by ensuring you know all the facts when it comes to shared ownership.

What is Shared Ownership?

Contrary to what the name suggests, shared ownership doesn’t involve sharing your home with anyone. In fact, instead, it’s more likely that you’ll be able to buy your home as a single person with this scheme. Shared ownership is a government scheme allowing you to buy a share in a property without applying for a  mortgage on the entire value. Essentially, you buy a portion of the home, this can be between 10% and 75%, and you rent the remaining portion at a low cost. While you may be buying just a portion of the home you most certainly get to live in the entire property and these new developments are taking over some of the most sought after areas, most particularly, London boroughs. As first-time buyers are only buying a percentage of the total value it also means they only pay a deposit on this value, making those hefty initial payments become a significantly lighter weight to carry. And with a reduced mortgage, you are more likely to be accepted and can balance the cost knowing you’ve also safely made it onto the property ladder. Shared ownership is highly flexible and with plenty of homes available you can find exactly what you need with flexible financial options.

How Shared ownership could help you

We all know just how tedious saving for your first home can be but with the much smaller deposit shared ownership offers you can forget about worrying over how long you will have to extend your stay with your parents. Shared ownership also allows you to buy a brand new home in brand new developments from city apartments to big family properties with gardens and driveways. In addition to this shared ownership means you can buy more of your home overtime and increase your shares. You can essentially move up the property ladder without moving anywhere and trust that you can reap all the profits from this when you decide to sell. It also means you will save on stamp duty as you won’t have to pay this until you own over £125,000 worth of the home meaning you cut out initial payments. Another great reason to snap up a shared ownership deal is these properties are making some of the most expensive areas of London kindly accessible to the mere mortal or first-time buyer. With Shared Ownership in Surbiton, East London and houses for sale in Hackney Wick, if you fancy cutting out the commute to work, shared ownership is a great option.

Why 2021 could be your year

With many of us switching to remote working, finding a place that truly suits you could really help you to embrace a fresh start. You can browse all the best shared ownership properties at and with all kinds of properties available you can find just what you need at a price that suits you.

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