The first step in buying a home with Shared Ownership is to assess your eligibility.
Finding your perfect home
Shared Ownership helps people get on the property ladder and is a more affordable way to purchase your own property, without the high deposit of purchasing outright.
Shared Ownership 101
Want to find out how it all works?
Let us take you through the steps to getting on the property ladder with Shared Ownership in our video.
Answering all of your top questions in one place, the video explains more about deposits, solicitor’s fees and stamp duty to name a few.
Meet Arati and Prashan, first time buyers
Arati always knew she wanted to live at the Acer Apartments. In fact, she watched the construction of the building on her commute to work everyday and always dreamed of living there.
With an amazing choice of hospitals nearby, Acer apartments provided a peaceful calm to her busy life.
How to buy a Shared Ownership home: A step-by-step guide
Search for available properties on our website here. Once you’ve found a property you’re interested in, you’ll need to arrange a viewing.
On some of our developments, you can book an appointment to see our homes online or in person.
Speak to a qualified independent financial adviser to see how much of the home you can buy.
To secure the property you’ve fallen in love with, complete the application paperwork and pay the reservation fee.
With the reservation complete, you’ll need to instruct a solicitor and begin your legal paperwork to purchase the property. We make the process as smooth and seamless as possible, including breaking down technical terms with our jargon buster.
Alongside the legal paperwork, you need to find a mortgage that suits you and complete your mortgage application. You can either do this yourself or use a mortgage broker. Your lender will carry out affordability checks to ensure that you can afford the mortgage repayments. See our affordability calculator to understand what you can afford.
With the mortgage in place, get ready to sign on the dotted line and pay your deposit. This is an exciting part of the process where you’re really close to your dream of homeownership.
It’s time to exchange contracts, which are legally binding agreements between you and us for the purchase of your property. You will also find out more about your completion and move in date during this stage of the process.
Congratulations! You can now move into your new home and make it your own.
You’ll still need to pay rent on the remaining share of the property you don’t own. The rent is usually set at 2.75% of the share that you don’t own. You can also choose to increase your ownership share over time, a process known as staircasing.
Don’t just take our word for it…
“Shared Ownership was the only realistic way for me to get on the property ladder”
“I found the whole Shared Ownership experience really easy”
“We both fell in love with the home, it was so nice and fresh and clean too”
“I used Shared Ownership as I had a limited budget and wanted to live in London”
“My experience with Shared Ownership was very positive and a lot better than I thought”
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