Home-buying FAQs

No – although this is a common misconception! The ‘shared’ element of the scheme simply means you’re sharing ownership of your home with a housing association. If you decide to buy a Shared Ownership home, you’re effectively purchasing a portion of a leasehold property. Your initial share will usually be between 10% and 75%, paying a mortgage on the part that you own and a below market value rent on the remainder.

There are no restrictions on the number of bedrooms you can have within your Shared Ownership home.

Shared Ownership is available on both new-build and resale homes. Resales are pre-loved properties that you can purchase through the Shared Ownership scheme where the current shared owner is selling.

Generally speaking, buyers can purchase between 10% and 75% of a Shared Ownership home. However, the share you can purchase will vary depending on the housing provider and your financial situation. We would recommend speaking with a financial advisor or mortgage broker to discuss your options.

This will depend on factors such as if the repairs are internal or external and whether your home is part of the old or new Shared Ownership model.

For example, as part of the old Shared Ownership scheme, all repairs and maintenance inside your home are your responsibility, regardless of the share you own. However, with the new Shared Ownership model, there has been the introduction of a 10-year repair warranty during which the shared owner will receive support from their housing provider/landlord to pay for essential repairs.

New-build homes will also come with warranty periods for defects and a longer warranty to cover any structural problems caused by poor workmanship.

Shared Ownership properties need a smaller deposit compared to those on the open market; buyers will usually need to put down 5% to 15% of the share that they’re buying, rather than the full market value of the home. On a monthly basis, buyers will pay their mortgage, a subsidised rent and a service charge on their home, however, these repayments can work out cheaper than or equal to renting privately in the same area.

Other costs to consider when buying a home include solicitor and mortgage broker fees.

Yes – when buying a Shared Ownership home, you will initially purchase a minimum percentage between 10% to 75%. However, shared owners can choose to buy additional shares in their property via a process known as ‘staircasing’. If you choose to buy a higher percentage, your mortgage repayments will increase while the rent you pay will decrease.

In the majority of cases, there aren’t any restrictions and you can buy 100% of your home – in this instance, you would become the outright owner.

Yes – you can decorate a Shared Ownership home including painting walls, hanging artwork and adding furniture. However, it’s important to review your lease agreement and any rules set out by your housing provider to see if there are any restrictions or guidelines you need to follow. Some restrictions could be in place to maintain the property’s condition and unfirm appearance, especially in communal areas.

Before making any significant changes, such as fitting a new kitchen or building a driveway, you would need to seek permission from the housing provider to ensure compliance. This will allow you to strike a balance between personalising your home while safeguarding the property’s resale value and overall aesthetics.

If you choose to buy a Shared Ownership home, you will need to live in the property as an owner-occupier. Shared Ownership leases do not allow you to sublet your home, and this may also be a condition of the mortgage. In some cases, under exceptional circumstances, you may be able to sublet for a specified period but you will be required to obtain written permission from your housing association.

While you are free to decorate your home, you should check the terms of your lease and get your housing provider’s permission in writing before making any major alterations to your property, such as changing flooring or fitting a new bathroom. However, they should not be able to withhold permission unreasonably.

Yes – in Shared Ownership homes, you are generally allowed to take in a lodger. However, some housing providers might have restrictions or guidelines to ensure that the property remains in compliance with Shared Ownership regulations and the terms of the lease. To be sure, review your lease agreement and consult your housing provider directly first to understand whether having a lodger is allowed and what steps you need to take.

No – Shared Ownership is only available on properties that have been built for the scheme by a housing association using a government subsidy. This means that the option does not exist to make an offer on an outright sale property on a Shared Ownership basis.

Most Shared Ownership homes are sold on a leasehold basis by housing associations as part of their homeownership programmes, with the length of leases generally being 99, 125 or 999 years. The Shared Ownership lease sets out the rights and obligations of both the landlord (for example, a housing association or local authority) and the tenant (the shared owner).

In many cases, the monthly payments for a Shared Ownership property are less than renting privately in the same area. With Shared Ownership, you pay a mortgage on the percentage share that you own and a below market value rent on the remainder to a housing association. It’s also worth noting that if you choose to buy more shares in your home, your mortgage payments will increase and your rent will decrease in turn.

Shared Ownership is available on both new-build and resale homes. New-build homes are purpose-built properties that are usually part of a larger development or area regeneration.

Buying a home off-plan means that it is still in the process of being built and you won’t be able to view it until after you’ve committed to buying it. In many cases, this will mean legally agreeing to purchase the property by exchanging contracts. To help in your decision, you’ll be invited to view the floor plan of the off-plan property, as well as the show home which will be finished to the same specification that your home will be.

This will vary from development to development and any restrictions around having pets will be outlined in the terms of your lease. If you live in a house, there aren’t usually restrictions but if you live in an apartment, you may not be able to be able to keep certain types of pets.

To make things easier, when using our property search tool on Share to Buy, you can filter your search to show homes which allow pets!

Share to Buy list thousands of Shared Ownership homes across the country, including both new-build and resale properties. Shared Ownership is available on a variety of property types including cosy studios, stylish apartments and traditional family homes.

If you are looking to purchase a Shared Ownership property in England, the maximum household income is £80,000. In London, your annual household income must be less than £90,000. The maximum household income is the income of any member of the household involved in the purchase; this means if you’re buying with a partner, the household income would include both of your salaries and any other income you receive.

There is no set minimum income allowance for Shared Ownership as a scheme. However, each property will have its own valuation and the housing association will determine the minimum income required for that property to be affordable to eligible buyers. If you have a large amount of cash to put down on a property, this may make the minimum income more affordable.

If you already own a property in the UK or abroad, you would not be eligible to purchase a Shared Ownership home. If you do own another property, you must be able to prove that you are in the process of selling your current home to be eligible for the scheme. Existing homeowners must have sold the property – or had your name removed from the mortgage – before you can exchange contracts on a home bought through Shared Ownership.

While poor credit history doesn’t rule out the possibility of buying a home through Shared Ownership, you would need to be able to take out a mortgage on the property. If your credit history stops you from doing this, then you would not be able to proceed. We would recommend speaking to an independent mortgage advisor who can assess your case and outline your budget to help you search for a home. Credit score is taken into consideration and you’ll get a better understanding of this during your assessment.

When referring to rent arrears, this is the legal term for a debt that is overdue or missing. You can still be eligible for Shared Ownership if you are renting a property, given than you meet the eligibility criteria, but not necessarily if you are behind on rental payments in your current home.

Generally speaking, it’s possible to get a mortgage even if you’ve had your property repossessed in the past, however, this will depend on each individual lender and their criteria. We would recommend speaking to an independent mortgage advisor who can assess your case.

Usually, as long as you can show at least three years of self-employed accounts, and providing your income is sufficient, you should be able to obtain a mortgage. You should seek independent financial advice about suitable mortgages and about managing the ongoing costs of homeownership if your income varies from year to year.

As long as you meet the relevant eligibility criteria then you can still purchase a Shared Ownership home during retirement. In most circumstances, you would either need to pay for your share in cash or the mortgage you’re getting would be based on the pension that you receive. For buyers over the age of 55, there is also the option of buying through the Older Persons Shared Ownership scheme.

Previous assessments in regards to social housing shouldn’t cause any issues when applying for a Shared Ownership home. However, allocation will be down to the relevant housing association if there is more than one possible purchaser for a property. To be able to purchase a Shared Ownership home, you’ll need to meet certain affordability and eligibility requirements.

Benefits are generally not included as income when assessing your affordability. Some mortgage lenders will accept benefit income if it is permanent, meaning that it’s not subject to review, but there does usually have to be some earned income as well.

You may be able to apply for a mortgage but you would need to demonstrate that you have a least two years remaining on your visa and have a deposit of 25% of the share, or three years remaining on your visa and a deposit of 20% of the share. If you are able to demonstrate that you can get a mortgage and maintain the payments, you may be able to buy through Shared Ownership. You will have to undergo a financial assessment with a financial advisor working with the housing association you buy through to assess this.

If you are able to demonstrate that you can get a mortgage and maintain the payments, you may be able to buy through Shared Ownership. You will have to undergo a financial assessment with a financial advisor working with the housing association you buy through to assess this. Some lenders will allow EU/EEA residents to have a minimum two years UK address history. If you are a non EU/EEA citizen, then lenders will require a full three year UK address history.

There is no requirement that joint purchasers are either family members or in a relationship. However, apart from any personal considerations, it would be sensible to have a robust legal agreement drawn up by your solicitor, covering such points as what happens if one of you is unable to maintain the financial contributions or wishes to leave the arrangement. Remember that with a joint mortgage, all parties are equally liable which means that if one of you can’t or won’t pay, the other is legally responsible for the whole amount.

An applicant’s health is not taken into consideration when applying for a Shared Ownership home. Instead, the relevant parties will review your financial status when trying to find a home to suit your needs.

As part of the eligibility criteria, you cannot own another property either in the UK or abroad when buying a home through Shared Ownership. If you are already a shared owner, you will need to be able to prove that you’re in the process of selling your current home before buying again through the scheme.

You may be able to run a business from your Shared Ownership home, depending on the nature of the lease and the type of business. This will vary from provider to provider and any restrictions should be outlined in the terms of your lease.

When buying a Shared Ownership home, you will need to put down a deposit on the share you are purchasing, rather than the full market value of the property. The amount required for a deposit will vary from property to property, but the typical Shared Ownership deposit is 5% to 15% of your share.

With Shared Ownership, you pay a mortgage on the share you own, while paying a subsidised rent on the proportion of the property that you don’t own. The more of the property you pay a mortgage on, the less rent you pay.

When a Shared Ownership lease is first issued, the rent that you pay in a leasehold home is generally calculated at 3% of the share still owed by the housing association. However, as a shared owner, your rent will likely increase each year in line with increases to the Retail Price Index (RPI), plus an additional amount. This additional amount typically ranges between 0.5% and 2%, with this information being outlined in the terms of your lease.

If you search for Shared Ownership properties on the Share to Buy website, you’ll find that each live listing includes a budget calculator that outlines the estimated monthly costs for that property.

You will pay a subsidised rent to the housing provider on the portion of the property that you don’t own; the more of the property you pay a mortgage on, the less rent you will pay. The amount you pay will depend on the share you have purchased and is generally a lower rate than you would pay when renting privately.

The rent you pay on a Shared Ownership home is often referred to as ‘subsidised’ or ‘discounted’ because it’s lower than the market rent you would pay in the local area. The rent is a percentage of the share retained by the housing association; the exact percentage is likely to vary from development to development, so we would recommend checking how the rent has been calculated with the sales team at the development you are interested in.

You will pay rent to your housing association on the unowned share of the property. Any rental increases and how they are regulated will be outlined in the terms of your lease but generally speaking, the rent will be reviewed each year and any changes will be based on the Retail Price Index, plus an additional amount which typically ranges between 0.5% and 2%.

Service charges on Shared Ownership homes are payments made by the homeowner to the housing association for the services they provide. These include maintenance and repairs to communal areas, insurance of the building and, in some cases, the provision of lifts, lighting, communal aerials, door entry systems, cleaning of common areas and grounds maintenance, etc.

Service charges are payments made by the homeowner to their landlord for the services they provide. These include maintenance and repairs to communal areas, insurance of the building and, in some cases, the provision of lifts, lighting, communal aerials, door entry systems, cleaning of common areas and grounds maintenance, etc.

Generally speaking, service charges for Shared Ownership homes are reviewed at the end of each financial year and the terms of these reviews will be outlined in your lease. However, if you have further questions related to service charges within your home or development, we would recommend contacting your housing provider directly as they will be able to provide you with a copy of the audited accounts and provide clarity on any increases.

Ground rent may be payable on a leasehold property to the freeholder or ‘superior leaseholder’ for the length of the lease. However, ground rent isn’t usually payable on Shared Ownership homes until you own 100%. If you have questions regarding ground rent within a specific Shared Ownership development, we would recommend speaking with the relevant housing provider directly as they will be able to advise if this is the case for the home you’re interested in.

The only way that family members can assist in the purchase of a Shared Ownership home is by gifting money towards your deposit.

You can use our mortgage comparison tool to get an idea of the Shared Ownership mortgages available on the market. To apply for a mortgage you can then contact the lender directly, or speak with a specialist Shared Ownership mortgage broker.

Once you’ve moved into your Shared Ownership home, you’ll need to pay for bills and council tax, much the same as if you were renting or had bought your home on the open market. In some circumstances, providers may include certain utilities in the service charge but this would need to be discussed directly with the housing association.

If you are struggling to make your monthly payments, you should let your lender and housing association know; your housing association can then try to help you manage your situation. In some circumstances, the housing association may buy back shares from you in a process known as flexible tenure, but this is rare. If necessary, and if no other options are available, you may have to sell your property or risk repossession.

If you are unable to meet your financial obligations with your lender or housing provider, you could be subject to legal action. If you are a current shared owner who is unable to meet these obligations, we would recommend speaking with your mortgage advisor and housing association who should be able to assist you with next steps and discuss your options.

Under the terms of the scheme, family members are generally not permitted to act as guarantors and the majority of lenders do not accept guarantors for Shared Ownership mortgage loans. We would recommend speaking with a mortgage broker or financial advisor to discuss your options and affordability.

When purchasing a Shared Ownership property, you will have the option of paying Stamp Duty on the full value of the property as if you were buying outright, or you can choose to defer your Stamp Duty payment until your owned share reaches 80%. Additionally, under the existing Stamp Duty Land Tax thresholds, first time buyers pay zero Stamp Duty on the first £425,000 of any home that costs up to £625,000, however, this will be dropping to £300,000 of any home that costs up to £500,000 in April 2025.

Under the existing Stamp Duty Land Tax thresholds, first time buyers pay zero Stamp Duty on the first £425,000 of any home that costs up to £625,000, however, this will be dropping to £300,000 of any home that costs up to £500,000 in April 2025.

The staircasing process is completely optional! While some buyers choose to buy additional shares in their home as their financial circumstances change, many owners choose to stay at their current owned share.

If you choose to purchase 100% of your Shared Ownership home, you will become the outright owner, continuing to pay your mortgage and any service charges, but no longer paying any rent.

One of the benefits of staircasing is that you will own more of your home, and will therefore have greater benefit from any increase in the value of the property. If you choose to buy more shares, your rent will also decrease. If you go on to purchase 100% of your home, you will become the outright owner of the property and no longer pay rent at all.

Unless you can afford to pay for the further shares from savings, staircasing will normally involve either taking a further advance from your current mortgage lender, or a new mortgage for both your existing mortgage and new shares from another lender. As your property is unlikely to be classified as a new-build, and the level of your deposit/equity may be a different percentage of your new borrowing, a better deal is often obtained with a re-mortgage.

A solicitor or conveyancer will be required to carry out the legal work associated with buying additional shares in your home, and some costs will likely be involved. If you are remortgaging as part of the staircasing process, several lenders will offer ‘free legals’ or money towards legal expenses as part of their offer. As it is more complex than a straight remortgage, a supplement is usually charged where the ‘free legals’ option is chosen.

If your property is subject to a lease that has restricted staircasing, then the amount of the property that you can own could be limited to 80%. This restriction is rare and more often found in rural areas a result of planning permissions to ensure that the property is retained for local people and does not become available as a second home. We would recommend speaking with your housing provider and checking the terms of your lease to see if there are any staircasing restrictions in your home.

Yes! If you own less than 100% of your property, you will usually be required to give the housing association a period of time to find a buyer first, although full details will be outlined in the terms of your lease. Should the housing association not be able to find a buyer within the set time, you are then free to market the property yourself.

If you have staircased and now own 100%, you can sell without the housing association needing to market the home first.

If you are an existing owner who has tried selling your Shared Ownership property via your housing provider and on the open market but are struggling to find a buyer, back-to-back staircasing could help. Also known as simultaneous sale, this option allows you to staircase to 100% ownership at the same time as selling your home so that your property is no longer covered by the Shared Ownership rules.

Generally, all Shared Ownership homes are sold on a leasehold basis. If the property is a house, and you go on to buy 100% through the staircasing process, you may be able to buy the freehold but would need to discuss this with your housing association.

To help speed up the sales process, it is advisable that you allow your housing provider to pass your contact details on to your buyers so that you can discuss possible moving dates. It is also important to liaise with your solicitor on a regular basis so that they can progress the sale with your buyer’s solicitor. Once a buyer has been found and your housing association has instructed their solicitors, your provider will not have any direct involvement with the sale, however, they are able to assist where required.

From time to time, housing providers receive concerns from vendors that the amount the home has been valued is under or over what they expected. Your housing provider can challenge the surveyor on your behalf but would require three comparables of similar properties that have sold within the last three months. They can also put you in touch with the surveyor to discuss your concerns with them directly.

When you sell your home, a surveyor will not value improvements separately; you will sell the share you own which will be a percentage of the full market value, including improvements you have made during your time in the property.

When it comes to selling a property, both the buyer and seller have the right to withdraw from the sale before contracts of sale are exchanged. If this happens, your housing provider will try to find another buyer. However, if it’s past your provider’s nomination period, your housing association could allow you to try and sell via an estate agent, while also continuing to look for a buyer themselves.

If your housing provider is unable to find a buyer for your home within the nomination period, they will write to you to confirm you are free to sell your home privately or through an estate agent at a price which is not less than that set by the valuer. You can sell your current share or you may decide to sell 100% of your home via the back-to-back staircasing process.

A valuation will usually last for three months, and if yours is due to expire, your housing provider can try to arrange an extension. If this is not possible, a new valuation will need to be obtained; a current valuation is required to complete a sale and you would be required to pay any additional fees for this.

It is a legal requirement to commission an EPC before selling your home, and failure to do so would prevent the sale from going ahead.

You should begin to look for another property as soon as you decide to sell. However, to avoid putting yourself under any pressure, you should not make an offer on another property until a buyer has agreed to purchase your Shared Ownership home. When you agree to buy a home, it’s in your best interest to make everyone involved aware of any timescales.

If a a housing association buys shares back and allows you to rent the property, this is known as flexible tenure; flexible tenure is rare and only granted in exceptional circumstances. If you wish to sell some or all of your shares back to your provider, you should approach your housing association to discuss your options.

As Shared Ownership homes are usually grant-funded, the relevant housing provider would need to be able to confirm that you meet the eligibility requirements. Therefore, they may require you to obtain a mortgage as proof of this.

There is no minimum income to qualify for a mortgage, however, your income will need to be sufficient to show that you can maintain the costs associated with the property you want to buy, based on an affordability calculator used by the lender. The calculations used by mortgage lenders are not all the same and therefore different lenders may offer different loan amounts based on the same salary.

You must be at least 18 years old to be eligible to get a mortgage and buy a home.

If you pay off the mortgage on your owned share, you will continue to pay rent on the remaining share, along with any relevant service charges. On the other hand, you can choose to buy more shares in your home through a process known as ‘staircasing’. If you go on to purchase 100% of the property, you become the outright owner and will no longer pay any rent, just your remaining mortgage.

Different lenders have different rules on this, although most would need you to provide three months’ payslips to ensure you can sustain the relevant housing costs. If you need to obtain a mortgage, you might need to wait three to six months before you can apply for a mortgage. A few lenders will accept based on a signed contract, some will accept just after you have started with your new employer, some will want to wait until you have received your first payslip, and some will want to know you are out of probation.

Being on a fixed-term contract will not affect your financial checks, but it may reduce the number of lenders that you can access for your mortgage. This would depend on how many contracts you have had, whether they have been renewed and what industry you are in.

This will depend on how long you have been earning this income and what proportion of your income is made up of overtime. Different lenders will also have different rules on overtime and many may ask for up to a year’s proof.

While not every lender will offer Shared Ownership mortgages, most will!

There are various criteria taken into consideration when applying for a mortgage which means there are a few reasons why an application may be rejected. If you are working with a mortgage broker or financial advisor, it is their job to look into your situation in enough detail to ensure that they’re placing you with a lender that will accept your application.

Any unusual factors in your situation will most likely reduce the number of lenders that would accept your application, which may mean you don’t have access to the very best rate. However, no matter how well the advisor has done their job, the most common stage that a lender will decline is when the credit score is completed.

The deposit for a Shared Ownership property is usually around 5% to 15% of the share that you’re purchasing, however, in some instances, a larger amount can improve the likelihood of being accepted, while some lenders may see a bigger deposit as proof of the financial commitment. The deposit required will also depend on your individual circumstances – for example, if you’re in temporary work, have visa restrictions, have a lot of financial commitments, poor credit history, etc.

Your housing provider will carry out an eligibility assessment and this will determine the deposit amount they require before they offer you a property. On some occasions, this deposit may also be higher than the minimum mortgage lender may requirements.

As different credit score companies will give you a different score, this is almost impossible to answer. However, lenders don’t just take the figure itself and instead will look at many factors to score you, one of which will be the credit score value.

While poor credit history doesn’t rule out the possibility of buying a home, you would need to be able to take out a mortgage on a property. If your or your partner’s credit history stops you from doing this, then you would not be able to proceed.

We would recommend speaking to a financial advisor or mortgage broker who can assess your case and discuss your property budget. Credit score will be taken into consideration and you’ll get a better understanding of this during your assessment.

Stability of address isn’t necessarily important in regards to whether you can get a mortgage, but it could make a difference to your credit score. For that reason, it is important to make sure that all of your accounts and credit are in your current address, as well as your driving licence. You should also be on the electoral register at your current address, and having your name on the council tax is also helpful.

County Court Judgements would not mean you were necessarily declined by all lenders, but it is likely that you’ll be required to pay a higher rate of interest. We would suggest speaking with a financial advisor or mortgage broker to discuss the options available to you.

A Debt Relief Order is a way of dealing with your debts if you can’t afford to pay them, whereby you don’t have to pay certain kinds of debt for a specified period (usually 12 months). At the end of the DRO period, the debts included in it will be written off (or ‘discharged’) and you won’t have to pay them.

Unfortunately, a DRO is classed by credit reference agencies in the same light as bankruptcy and will stay on your credit file for six years. If you have a DRO and are looking to purchase a home, we would recommend seeking financial advice to get a better understanding of the options available to you.

Most mortgage lenders will accept a single mortgage applicant for a joint purchase, however, the joint purchaser’s income or financial contribution won’t be taken into account when assessing affordability. It is also possible that the mortgage lender will reduce the amount of the loan on the basis that the applicant for the mortgage is financially supporting the joint purchaser.

Lenders may also require that the person not on the mortgage application signs an agreement that they will not oppose an application for repossession, should the mortgage fall in arrears.

Only those who are purchasing the home can be on the mortgage application, and all applicants must live at the property as their main residence. If a family member wants to help you buy a home, but won’t be purchasing the property with you, they can offer money towards your deposit by way of a non-repayable gift.

No – your mortgage can only go towards the purchase of the property itself, not towards Stamp Duty Land Tax.

An Agreement in Principle is an agreement from a mortgage lender that they will lend you the mortgage amount requested, subject to satisfactory proof of income and valuation of the property.

Before issuing an AIP, the lender will carry out a credit check and subject your application to their internal credit scoring. An AIP is the first part of the process of applying for a mortgage, and the agreement is not binding for either yourself or the lender.

It is not essential to get a mortgage in principle before viewing a home, but it does make sense to do so! An Agreement in Principle (or Decision in Principle) checks affordability but the really important part of the AIP is the credit score. If there is anything in your financial past that could stop you from being able to buy, you would want to know before being accepted for a home, only to find that you can’t actually buy it.

This can vary considerably between housing associations, and whether you are buying a new-build or resale home. With a new property, you would normally expect to receive the Memorandum of Sale within 10 working days. Some mortgage lenders will not accept a mortgage application unless the MOS is submitted with the application, while other lenders will want a copy before issuing a mortgage offer.

A mortgage broker’s role is to arrange a suitable mortgage for you. This will involve taking details about your personal and financial situation and using that information to find mortgage lenders where you meet the relevant criteria and affordability requirements for the property that you want to buy. The broker will be able to answer any questions you have and advise you on suitable mortgage products. They will assist you with the necessary paperwork so that a mortgage application can be submitted and will then do everything possible to help progress your application.

While many buyers find it useful to work with a mortgage broker when purchasing their first home, it isn’t required!

There can be considerable variations in fees charged by mortgage brokers. Some do not charge at all, while others will charge for a percentage of the mortgage loan or a fixed amount, so it might be beneficial to get multiple quotes when you’re looking to appoint a broker.

Once you have found a property that you’d like to buy, the relevant housing association will invite you to attend a financial assessment. Once completed, you’ll know the share that you’ll be buying and therefore the monthly rent payable at the outset, and can start to think about your mortgage options. If you are using a mortgage broker, you should contact them at this stage to start looking into suitable mortgage options.

To find out if you meet a lender’s affordability calculations and lending criteria, you can either contact your bank/lender directly or discuss your finances with a mortgage broker. A mortgage broker may charge a fee but will be able to assist you with finding a suitable mortgage, even if your first choice is not available, as well as arrange an agreement in principle.

While most housing providers will have a panel of mortgage brokers they can recommend, and they may require you to use them for your initial affordability assessment, you do not have to use that broker for the whole process. However, we would suggest you appoint a specialist broker who has experience if you are buying through affordable homeownership schemes such as Shared Ownership.

A qualified mortgage broker is essentially a financial advisor that specialises in mortgages only. They ensure you find the right mortgage with rates that suit your budget, and their expert knowledge of the housing market means they can identify the best lenders and mortgage deals out there. Mortgage brokers have a duty of care towards you, meaning they must be able to justify any recommendations they make.

An Independent Financial Advisor (IFA) will recommend several products. They can access the whole of the financial market and will have a knowledge of all financial areas (investments, pensions, insurance, etc) to match the best product to your personal situation. They will give you impartial, unrestricted advice that considers every financial product on the relevant market. An IFA will do more than simply tell you where to put your money as their advice is aimed to make your money work for you and help you achieve your goals in life.

The government’s First Homes scheme is only available in England, offering first time buyers a discount of up to 50% of a property’s market value. The country’s leading housing providers list their homes on Share to Buy, head to our property portal to start your search for First Homes available near you.

Discount Full Ownership is offered by property developer, Pocket Living, and is only available on homes in London. Pocket Living list their one bedroom apartments on Share to Buy, head to our property search tool to find available homes available across the capital.

London’s leading providers of affordable homeownership schemes list their homes on Share to Buy, including those who offer London Living Rent. Start your search on our property portal to find London Living Rent homes available across the capital.

Available to eligible renters within the capital, London Living Rent homes are for middle-income households who currently rent and are aiming to build up savings to eventually buy a Shared Ownership home. These properties are offered on tenancies of a minimum of three years at below-market value rent, with tenants being given support to save during the period of their tenancy.

To be eligible for London Living Rent, you must meet the relevant eligibility criteria:

• You must live or work in London. Please note that priority will generally be given to those who live or work in the borough where the property is located.
• You must have a formal tenancy, or live in an informal arrangement with family or friends as a result of struggling with housing costs.
• Your household income must not exceed £67,000.
• You must not already own another home.
• You must be unable to currently buy a home – including through Shared Ownership – in your local area.

London Living Rent is an intermediate housing scheme, designed to help budding buyers save money towards buying a home through the Shared Ownership scheme. During your tenancy, you will pay below-market value rent on a monthly basis, and will also be expected to save towards a deposit. The London borough you live in will be a contributing factor in determining the amount of rent you’ll pay.

The Mayor of London releases benchmark London Living Rent levels for every neighbourhood each year, calculated using one-third of average local household incomes and adjusted based on the number of bedrooms in the home. This means that homes in most boroughs will be offered at a significant discount when compared to market-level rent.

The First Homes discount is a government scheme where first time buyers can purchase a home in their local area at a discount of 30% to 50% of the market value of the property. These new-build homes are offered by property developers and aim to help people in areas of high demand who would be unable to afford to buy a home locally without the discount.

Yes, the First Homes discount is only available to first time buyers. If you currently or have previously owned a home in the UK or abroad, you would not be eligible for this government scheme.

To buy a property through the First Homes scheme, you must meet the relevant eligibility criteria:

• You must be at least 18 years old.
• Your household income must be no more than £80,000 (or £90,000 in London).
• You must be a first time buyer, meaning you have never owned another home in the UK or abroad.
• You must be able to get a mortgage for at least half the price of the home.

No, Discount Market Sale isn’t only available for first time buyers. However, you must be selling or have sold any other properties before being able to buy through Discount Market Sale.

No, Deposit Unlock isn’t only available for first time buyers, it’s open to all eligible home-movers!

Yes, Discount Full Ownership is only available to first time buyers. If you currently or have previously owned a home in the UK or abroad, you would not be eligible for this buying scheme.

Share to Buy is the country’s leading property portal dedicated to affordable homeownership and buying schemes, and serves as an independent, educational resource for budding buyers. On our website, you can:

• Search for homes
• Research housing options
• Get specialist mortgage advice
• Contact expert conveyancers
• Keep up with housing news
• Hear about our upcoming events

Our goal is to inspire, guide and empower budding buyers facing challenges in today’s housing market, helping them to realise their homeownership dreams through affordable housing options, tailored products and support resources.

Share to Buy is England’s biggest and best-established affordable homeownership property portal, making it the ideal website for first time buyers and those looking to find a new home.

Founded over 20 years ago and with the country’s largest listing of affordable homes through schemes such as Shared Ownership, First Homes and Deposit Unlock, our goal is to inspire, guide and empower budding buyers facing challenges in today’s housing market. Using our property search tool, you can search for homes that fit your needs with filters such as location, number of bedrooms, monthly outgoings, deposit amount and more.

We also serve as an independent, educational resource for budding buyers with FAQs, guides, interactive mortgage tools, live events, and access to specialist mortgage brokers and conveyancing panels. 

It’s time to find your space. Register your free account with us!

Are you housing association, developer, sales agent or location authority selling properties through Shared Ownership, First Homes, Deposit Unlock and other affordable homeownership schemes? We can list your new-build and resale homes on the Share to Buy property portal!

As well as working alongside registered housing providers, we also partner with private sellers who are looking to sell their current Shared Ownership home.

Share to Buy is a national property portal offering homes across England, listing properties available through affordable buying and rental schemes such as Discount Market Sale, First Homes, Shared Ownership and Rent to Buy. Whether you’re looking for a cosy studio, stylish apartment or traditional family home, you can start your property search on Share to Buy!

Share to Buy is a national property portal offering new-build and resale homes across England. On our website, you can search for properties available through affordable buying and rental schemes including Deposit Unlock, Discount Full Ownership, Discount Market Sale, First Homes, Shared Ownership New-Build, Shared Ownership Resale, Older Persons Shared Ownership, Intermediate Rent, London Living Rent and Rent to Buy.

The Help to Buy: Equity Loan scheme closed to new applications on Monday 31st October 2022, with the scheme officially ending on Friday 31^st March 2023. Homes England confirmed that there will be no exceptions or extensions.

Find out more on Share to Buy or learn about Help to Buy alternatives including Shared Ownership, First Homes, Deposit Unlock and other homeownership schemes.

Help to Buy was a government-backed scheme which aimed to help first time buyers get onto the property ladder. The alternative housing product provided eligible buyers with an equity loan (also known as shared equity) of up to 20% of the value of a new-build Help to Buy home. The Help to Buy government scheme provided a 20% loan so the buyer only needed to raise a 5% deposit, with a 75% mortgage making up the rest.

The Help to Buy: Equity Loan officially ended in March 2023. Find out more on Share to Buy or learn about Help to Buy alternatives including Shared Ownership, First Homes, Deposit Unlock and other homeownership schemes.

No, the Help to Buy: Equity Loan closed to new applicants on October 31st 2022, before officially ending on March 31st 2023. However, you can find Help to Buy alternatives on Share to Buy including Shared Ownership, First Homes, Deposit Unlock and other home-buying and rental schemes.

Share to Buy lists thousands of first time buyer homes across the country, including new-build properties that were previously available through the Help to Buy scheme.

Help to Buy was available on a variety of properties including cosy studios, stylish apartments and traditional family homes. Help to Buy may have ended, but there are still plenty of alternative housing schemes that can help first time buyers get on the property ladder.

Please note that the Help to Buy: Equity Loan officially ended in March 2023. 

Deposit Unlock is a scheme developed by the Home Builders Federation and reinsurance firm, Gallagher Re.

In order to protect themselves from the devaluation of new properties, mortgage lenders are often stricter on the amount they are willing to lend on newly built homes, often setting minimum required deposits of 15-25%. Deposit Unlock lets buyers put down a 5% deposit on a new-build home with the house builder paying to insure the mortgage to make lenders more comfortable about offering high Loan-to-Value (LTV) mortgages on new homes.

To be eligible for Deposit Unlock, you must meet the relevant eligibility criteria:

• You must be buying a new-build property.
• The loan you require must not exceed £750,000.
• You can only buy a home from participating house builders and lenders.
• You must not already own another home at the time of completion.

With Deposit Unlock, you can borrow up to 95% of the value of the home you are buying. For example, if you’re buying a home worth £200,000, you’ll need to borrow a sum of £190,000, and put down a deposit of £10,000. The maximum amount you can usually borrow is £750,000, although this will depend on your housing provider and your financial situation.

Deposit Unlock is only available from participating home builders and mortgage lenders. To see if there are new-build Deposit Unlock properties available in your local area, head to our property search tool.

Discount Full Ownership is a home-buying scheme offered by housing provider, Pocket Living. If eligible, you can buy 100% of these Pocket homes with a discount of at least 20% below local market prices.

Discount Full Ownership homes sell for at least 20% below local market prices, with the buyer purchasing 100% of the home.

You would need to arrange a mortgage, which will typically require a deposit of 15% of the sale price; the amount of deposit required will depend on the mortgage provider you choose, the terms of the mortgage, your income and your credit rating. In addition to your mortgage repayments, you will also be required to pay a service charge but this can vary from building to building.

To be eligible for Discount Full Ownership, you must meet the relevant criteria:

• You need to live or work in the borough of the development, although this may extend to all London boroughs after a set period of time.
• Your household income must not exceed £90,000. However, please be aware that particular local authorities sometimes set a lower income cap for a set period of time.
• You must not already own another home.

Discount Market Sale (also known as Council Shared Equity or a reduced market value scheme) is a low-cost homeownership product where you can purchase a new-build property at a discount of up to 20%.

When buying a Discount Market Sale home, the purchase will usually receive a discount of up to 20%. As the property is discounted, housing costs are reduced significantly.

Applicants will need a discount market sale mortgage and/or savings to cover the discounted price of the property, and monthly outgoings will comprise of a mortgage payment and service charge.

To be eligible for Discount Market Sale, you must meet certain criteria:

• You need to live or work in the borough of the development, sometimes for a certain number of years.
• At the time of application, your household income must not exceed 45% of the Discount Market Sale price of the property.
• You must not already own another home.

Share to Buy list thousands of properties available through affordable homeownership schemes across the country. To search for Discount Market Sale homes in your local area, visit our property search tool.

Share to Buy list thousands of properties available through affordable homeownership and rental schemes across the country. To search for Intermediate Rent homes in your local area, visit our property search tool.

Intermediate Rent (or Intermediate Market Rent) is a rental option designed to help first time buyers who can’t yet afford to buy a home, but want to save for a deposit to purchase a home within the next five years. The IMR scheme offers budding buyers the opportunity to rent a brand-new or refurbished home at less than the market rate.

Homes available through Intermediate Rent are usually let on an Assured Shorthold Tenancy basis with a six-month contract period. You may have the opportunity to rent a home for longer than this initial contract period – for example, up to five years – but this will depend on your landlord’s plans for the home.

To be eligible for Intermediate Rent, you must meet certain criteria:

• Your total household income must be less than £90,000 if in London, or less than £80,000 outside of London.
• You must be unable to afford to buy a suitable property on the open market.
• You must not already own another home.
• You must be able to afford 80% of the local market rent without assistance.
• For some developments, there may be additional criteria such as priority given to those who currently live or work in the local area.

Intermediate Rent offers budding buyers the opportunity to rent a brand-new or refurbished home at less than the market rate. The rent is subsidised, normally at approximately 20% lower than what you would expect to pay for a similar home in a similar area if you were renting on the private market. As well as being more affordable, you have the assurance that your home is built, managed and let by a registered housing provider.

Share to Buy list thousands of properties available through affordable homeownership and rental schemes across the country. To search for Rent to Buy homes in your local area, visit our property search tool.

To qualify for Rent to Buy properties, you must meet the relevant eligibility criteria:

• You must be a working household at the time of letting.
• You must not own another property.
• You must have a good credit history, and be free from bad debts and County Court Judgements (CCJs).
• Some developments may have additional criteria, such as prioritising residents or workers in the local area.

Rent to Buy homes provide budding buyers with the opportunity to rent a new-build property on an Intermediate Rent basis for a fixed term of up to five years. The homes are let at a 20% subsidised rate with a fixed rate of inflation to help tenants save towards a home-buying deposit.

Rent to Buy homes are let at up to 80% of the market rent (meaning a 20% subsidised rate) with a fixed rate of inflation.

The Rent to Buy scheme enables the property to be let on an assured shorthold tenancy for a fixed term for up to five years which will be linked to your required savings period. A savings plan will be put in place to help you raise a sufficient deposit to purchase on either Shared Ownership or equity loan terms within five years.

Properties available through the First Homes discount will benefit from a discount of 30% to 50% of the market value of the property.

Each home being sold through the scheme is valued by an independent surveyor to make sure the discount is based on actual market value, and these homes cannot cost more than £250,000 – or £420,000 in London – after the discount has been applied.