Shared Ownership Schemes

Help to Buy: Shared Ownership in England


If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership could be just the incentive you’re looking for. The scheme offers a chance to buy a share of your home (25-75% of the overall value) and pay rent on the remaining share. Depending on the housing association providing the home, you could buy more shares at a later date if you wish. 

You could be eligible to buy a home through the Shared Ownership scheme if:

  • Your household earns £80,000 a year or less 
  • You are a first time buyer OR you used to own a home but can’t afford to buy one now OR you are an existing shared owner looking to move

With Help to Buy: Shared Ownership you can buy either a newly built or existing home. You’ll need to take out a mortgage to pay for your share of the purchase price – or fund this through savings. 

Shared Ownership properties are always leasehold. The freehold is held by the relevant housing association. You may be able to take over the freehold if and when you are able to purchase 100% of the shares in your home at a later date. Remember, the ability to do this is at the discretion of the housing association. Councils will sometimes issue a priority order on a shared ownership home-building programme, based on local housing needs. Details of any priority groups on each development should always be made available before you make an application. 

People with disabilities

Home ownership for people with long-term disabilities (HOLD) can help you buy any home for sale on a Shared Ownership basis – provided you have a long-term disability. 

You can apply for HOLD if the properties available through other home ownership schemes don’t meet your specific needs. You can only apply for HOLD if the properties available through the other home ownership schemes don’t meet your needs (for example, you need a ground-floor property).

Older people

Another home ownership scheme is the Older Person’s Shared Ownership initiative, which is available to those aged 55 and over. It works the same as the general Shared Ownership scheme, though you can only buy up to 75% of your home. Once you own 75% you will not have to pay rent on the remaining share. 

Applying for a Help to Buy: Shared Ownership home

The team at The New Homes Agent have many years of experience in dealing with shared ownership properties. Get in touch today if you have any questions about the scheme or would like more information on current and upcoming shared ownership properties. 

Shared Ownership New Builds For Sale in Lincoln

New Developments

Have a look at the latest developments in Lincolnshire.

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