Shared-ownership schemes — helping more people than ever on to the housing ladder

There's been a lot of talk about shared-ownership schemes in the news lately and it's something we're passionate about here at Shanly Homes, as they allow people who wouldn't otherwise be able to afford their own home to do just that.

Under a shared-ownership scheme, you take out a mortgage to cover 25% - 75% of the home's value and pay rent to the housing association managing the scheme on the remaining share.

Who is eligible?

You can buy a home through shared ownership if:

- Your household income is £60,000 per year or less (for London, household income should be £66,000 a year or less for a 1-2 bedroom property or £80,000 or less for a property with 3 or more bedrooms)

- You're a first-time buyer (or used to own your own home but can't afford to now)

- You rent a council / housing association property

Is age an issue?

If you're aged 55 or over then the 'Older People's Shared Ownership' scheme allows you to buy up to, but no more than, 75% of the value of your home. Once you own 75% you won't have to pay rent on the remaining share.

What about people with disabilities?

If you have long-term disabilities and properties available in other Help to Buy schemes don't meet your needs (e.g. you need a ground-floor property) then the Home Ownership for People with Long-Term Disabilities (HOLD) scheme can help.

Increasing your share of the property

At any time after you buy your shared-ownership property you can 'staircase': buy more shares in the property.

The cost of new shares will depend on the value of your home when you want to buy more shares, so if property prices have gone up then your new share will cost more than your first share. The housing association will have the property valued (you will need to pay the valuation fee) and give you a cost for the new share.

Selling your home

If you own 100% of your home then you can sell it yourself. However, for 21 years after you own 100% of the property the housing association has first refusal: the right to buy the property back before it is offered on the open market if they wish to.

If you only own a share of your own home then the housing association has the right to find a buyer for the property if you wish to sell.


If that's inspired you to think about shared ownership, you'll be glad to know that the attention to detail and high specification synonymous with Shanly Homes is also available via Shanly Partnership Homes. We comply with the Consumer Code for Home Builders, hold registered provider status (which means we're regulated by the government) and have been delivering new shared-ownership homes across the Home Counties since 2012.

If you'd like to find out more, please visit or call 01494 671331.



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