FAQs: Can I buy a Shared Ownership home?

Can I purchase any property on a Shared Ownership basis?

Shared Ownership is only available on properties that have been built for that scheme by a housing association using Government subsidy. Therefore, the option does not exist to make an offer on an outright sale property on a Shared Ownership basis.

Does Shared Ownership mean sharing with another person?

No. Shared Ownership does not mean you share the ownership of the property, or have to live with another person. It means you own a share of the property and pay rent on the share you don’t own to a housing association. Buying a house with friends, a spouse or a partner is known as joint ownership.

How many bedrooms am I entitled to purchase?

There is no longer a restriction on the number of bedrooms within the property you wish to buy. Previously Shared Ownership purchasers were eligible to apply for properties with up to one extra bedroom than the household size required. Now, as long as you can afford it, you can apply for properties with as many bedrooms as you wish.

What is a resale Shared Ownership property?

Resales are Shared Ownership properties where the current owner is selling their share. Unless they are ‘fixed equity’, you purchase the share on offer and can choose to purchase additional shares in the future (via a process known as staircasing) until you own the property outright.

I am over the age of 55, can Shared Ownership help me?

You can get help from another scheme called ‘Older People’s Shared Ownership’ if you’re aged 55 or over. It works in the same way as the general Shared Ownership scheme, but you can only buy up to 75% of your home. Once you own 75% you won’t have to pay rent on the remaining share. You can search for these particular homes on Share to Buy by filtering your property search to show ‘Over 55’s Shared Ownership’.

Find out more in our Shared Ownership 101. For more information about all aspects of the Shared Ownership scheme, visit our Article Index.

If you’re interested in purchasing a part-buy part-rent home, you can find out more via our article index and Shared Ownership terms and conditions on Share to Buy. You can also start your search on our property portal, using key filters such as location, number of bedrooms and deposit amount to find your ideal home.