Mortgages & Property

Shared ownership housing schemes explained

How shared ownership works
With shared ownership, you buy between a quarter and three-quarters of a property.

You have the option to buy a bigger share in the property at a later date.

These schemes are aimed at people who don’t earn enough to buy a home outright.

Most of the homes available are newly built, but some are properties being re-sold by housing associations.

All shared ownership homes in England are offered on a leasehold only basis.

Each country runs their shared ownership scheme slightly differently - see the links below for more information:

Who can apply for Shared Ownership?

The criteria for who’s eligible for the shared ownership scheme varies from country to country.

See the links above for details of who can apply for the scheme in each country.

In England:

You don’t have to be a key worker, such as a nurse or teacher, to apply for shared ownership.

But military personnel will be given priority over other applicants.

If you’re aged 55 or over, you can get help from another home ownership scheme called ‘Older People’s Shared Ownership’.

This scheme is similar to a normal shared ownership scheme but it only lets you buy up to 75% of your home.

Once you own 75%, you won’t have to pay rent on the remaining share.

If you have a long-term disability and cannot find a suitable home that meets your needs, you can get help with the ‘Home Ownership for People with long-term Disabilities (HOLD)’ scheme.

You can get more information on these two schemes from your

What’s the application process?

Other housing schemes

There are a number of other government-backed schemes to help homeowners including:

It is important to note that Shared Ownership and Help to Buy Shared Equity schemes are different.

With shared ownership, you only own a part of the property with an option to buy more.

With Shared Equity, you own all of the property from the start but have to repay a proportion of its value when you sell it – equivalent to the proportion of government equity you took to buy it.

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