Did you know that more than a quarter of people who can’t afford a full‑price home jump into shared ownership? It lets you buy a slice of a house and rent the rest, lowering the cash you need up front.
In a shared‑ownership deal you purchase between 25 % and 75 % of a property. The remaining share stays with a housing association or private developer, and you pay rent on that part. You own the share you bought outright, so you can sell it later or buy more shares – a process called “staircasing”.
The loan you take only covers the part you own, so monthly payments are usually lower than a standard mortgage. You also still have to cover council tax, utilities and maintenance, but the rent on the rest of the house is often below market rates.
First, check if you’re eligible. Most schemes require you to be a first‑time buyer, have an annual household income under £80,000 (or £90,000 in London) and not own another property.
Next, start browsing listings. Our site lets you filter for shared‑ownership homes, choose the percentage you want to buy and see the rent you’ll pay on the remaining share. When you find a place you like, arrange a viewing just like any other property.
If you decide to go ahead, the next step is to get a mortgage for the share you’ll own. Many lenders have specific shared‑ownership products, so it’s worth comparing a few. You’ll also need a valuation of the whole property, not just your share.
After the mortgage is approved, you’ll sign a lease‑hold agreement with the housing association. This contract outlines your rights, the rent you’ll pay, and how you can staircase up later. Read it carefully – ask a solicitor any question you’re unsure about.
Finally, move in! You’ll pay a mortgage on your share, rent on the rest, and any service charges that apply. Over time, if you want to own more of the house, you can buy additional shares whenever you can afford it.
Remember, shared ownership isn’t a free‑pass to cheap housing. The rent can increase, and selling your share may take longer than a normal resale. But for many, it’s a realistic way to step onto the property ladder without a huge deposit.
Ready to explore shared‑ownership options? Use the search bar above to filter listings, compare prices, and see how much you could save compared to buying outright. Take the first step today and turn a fraction of a house into your own home.
