Shared ownership - Frequently asked questions

Can I choose any property I want? 

No, the only properties you can buy through shared ownership are designated as shared ownership. You can no longer buy a property on the open market under a shared ownership arrangement – this used to be called DIY shared ownership.

Can I increase my share in the ownership?

Yes, you can increase your share by ‘staircasing’ upwards by a further share of 25%. So if you bought 50% to start with, you could increase your share to 75% and, in most cases, up to 100%.

How much will shared ownership cost?

The costs will depend on the size and price of the property.  If you buy a 50% share in a property, the rent you pay on the Housing Association's share is normally about half as much as your mortgage payments.

What should I do if I am interested in shared ownership?

For more information on the full range of shared ownership options, visit the Government website. We also recommend that anyone interested in shared ownership should seek independent legal and financial advice.

What happens if I want to sell a shared ownership property?

You may sell your share in a shared ownership property at any time and must inform the Housing Association if you wish to sell as the person who buys your property would need to meet the criteria for shared ownership themselves.

If you sell the property, you will receive your share of any increase in the value of the property. Please remember, the value of your home may go down as well as up.

Who can be considered for shared ownership?

To be considered for shared ownership you must be in housing need and unable to afford a property on the open market without help. Priority is normally given to current council and Housing Association tenants and people on the council's Housing Register.

You would also have to be able to afford to pay the mortgage for your share in the property plus the rent (although the rent would be eligible for Housing Benefit).