Shared ownership

Shared ownership is an affordable home ownership scheme. The scheme makes it easier for first-time buyers and those already on the property ladder to find their new home.

With shared ownership instead buying a home outright, you buy a share in a property – usually between 25 – 75% – and then pay subsided rent on the rest. And, you’re able to buy more shares in the future until you own your home outright if you want to.

Who can be a shared owner? 

You can apply for a shared ownership property if:

  • Your household earns £80,000 or less a year (outside of London)
  • First-time buyer
  • You can’t afford the purchase price of the property outright
  • You are selling your home and want to move into a shared ownership property
  • Are an existing shared owner looking to move.

So, what are the benefits of Shared Ownership?

  • You can only buy what you can afford
  • You own part of a home
  • Initial buying costs are lower, and you’ll need a smaller deposit
  • Monthly repayments can often work out cheaper than if you had an outright mortgage
  • You can sell the shares you own at any time
  • You’re able to buy more shares when you can afford it

For more information on Shared Ownership, advice or to see if you qualify give the team at Crucible email

Don’t forget to read our blogs for the latest news on Shared Ownership and download our Shared Ownership guide.