Board of sticky notes with a note that says shared ownership in focus

What is shared ownership?

Shared ownership is where you buy a share of your new home (between 10% or 25% and 75%) usually with a mortgage, and pay rent on the rest. You can get a shared ownership home through a housing association as well.

There are different rules for shared ownership in Northern Ireland and Scotland. Contact your local authority to find out about buying a shared ownership home in Wales.

Shared Ownership Eligibility

Shared Ownership is a stepping stone for those looking to buy their own home but can’t quite afford to buy on the open market. Because of this, there are some specific eligibility criteria that you need to meet:

Accessing shared ownership

Option 1:

Create an account on sharetobuy.com then follow their 10 Step Guide

This option isn’t impossible with a disability, but it’s harder as you have to be sure that you can find a suitable property.

Option 2:

You can apply for a scheme called Home Ownership for People with a Long-term Disabilities (HOLD) if other Help to Buy scheme properties do not meet your needs, for example you need a ground-floor property. With this scheme you can buy up to 25% of your home.

If you’re disabled you can also apply for the general shared ownership scheme and own up to 75% of your home. 

To buy a home through a shared ownership scheme contact the Help to Buy agent in the area where you want to live.

You can only apply for the HOLD scheme if the homes available in the other shared ownership schemes don’t meet your needs, e.g. you need a ground-floor home.

Pros & Cons

Pros

Cons

Resources

https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme

https://www.sharetobuy.com/ 

https://www.sharetobuy.com/guides-and-faqs/shared-ownership-explained/

https://www.ownyourhome.gov.uk/scheme/hold/