Current Schemes

Shared Ownership (now known as New Build Homebuy)
What is Shared Ownership?	An arrangement that allows you to buy part and rent part of a newly build property.
How does Shared Ownership work?	Homes are sold as leasehold properties on shared ownership terms – they can be flats or houses. The minimum share you can purchase is 25%, and 75% is the usual maximum. You will need to be able raise a mortgage for the share you want to purchase, and you will pay rent on the share you don’t own. Rents are calculated to be affordable. As you become able to afford it, you can buy additional shares until you own 100%. This is known as ‘staircasing’. When you want to sell the property you can sell the share you own to another household nominated by your landlord or you can staircase to 100% and sell it in the normal fashion.
Who is eligible for Shared Ownership?	Anyone who cannot afford to buy their own home on the open market. Those with an annual household income exceeding £60,000 are not eligible.
How do I apply for Shared Ownership?	Contact your local Homebuy Agent.
How do I raise a mortgage for Shared Ownership?	Selected specialised products are available for Shared Ownership. To request help with a mortgage click here.