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Shared Ownership
Shared ownership means you buy a share of your home and pay rent on the part you don’t own.
It’s designed to make home ownership more affordable. Over time, you can buy more shares (called staircasing) until you own your home outright.
You’re responsible for repairs inside your home. If you have the new model lease, you may have an initial repair period that gives extra support for essential repairs.
Your rights
Live in your home as long as you meet your obligations.
If you live in a flat, we maintain communal areas and shared services.
Your responsibilities
- Pay your rent and service charges on time.
- Keep your home in good repair.
- Get permission before making major changes.
- Not to sublet your home unless we agree in exceptional circumstances.
- Use your home as your private dwelling – not for holiday lets or running a business without permission.
Costs you need to know about
Rent:
Based on the share you don’t own.
Service charges:
Covers communal maintenance and insurance.
Other charges:
If you live in a house, you may contribute to maintaining shared areas like parking spaces.
Repairs and maintenance
We look after communal areas if you live in a flat.
If you have the new model lease, you can claim up to £500 a year for essential repairs during the initial repair period.
Making changes
Always ask us first before making alterations. Some changes need planning permission or building regulations approval. Your lease may also restrict certain types of work.
FAQs
Shared ownership lets you buy a share of your home and pay rent on the part you don’t own. It’s designed to make home ownership more affordable.
Yes. This is called staircasing. You can buy shares in 10% or 25% chunks, or 1% annually if you have the new model lease. Contact us for details.
If you have the new model lease, you can claim up to £500 a year for essential repairs for the first 10 years. We also cover structural repairs during this time.
You maintain the inside of your home. If you live in a flat, we look after communal areas. Check your lease for details.
Generally, shared owners cannot sublet until they own 100% of the property. In exceptional cases, we may allow it for a limited time please contact us.
Payments are due monthly, usually on the 1st. You can pay by Direct Debit, Standing Order, debit/credit card, cheque, or at the Post Office using a barcoded invoice.
Contact us straight away. We can agree a payment plan or refer you to debt advice services. If arrears continue, legal action may follow, which could lead to repossession.
Yes, but you need written permission for any alterations. Structural changes or changes to communal areas are not allowed.
You can sell at any time. We’ll try to find a buyer during the nomination period. If we can’t, you can sell on the open market. Contact us for guidance.
Staircasing means buying more shares in your home. The more you own, the less rent you pay. Once you own 100%, you stop paying rent and may become the freeholder if you own a house.
