Shared Ownership

First, you may want to check your Shared Ownership eligibility. If you’re eligible, you can then contact our team, who’ll be able to help you with the next stages of your journey, which include finding a Shared Ownership house or apartment you want to buy, reserving your home and sourcing a solicitor or conveyancer to undertake the legal work involved with your property purchase.

You can apply for Shared Ownership on our website by completing an application form. Alternatively, you can speak to our dedicated sales team by phone at 0300 555 2171 or by emailing sales@southernhousing.org.uk.

You can buy your Shared Ownership home with a mortgage or cash. If you’re buying with cash, you can purchase up to a 75% share of a Shared Ownership home without a mortgage, but you would still need to make rental payments on the remaining portion you don’t own.

You won’t need to find a Shared Ownership mortgage until you’ve found a property you wish to buy. Then, you can speak to a mortgage broker or contact the lender directly to discuss the best mortgage product for your circumstances.

You can find out whether you’re eligible for the Shared Ownership scheme by conducting an eligibility check via the UK Government website here or by speaking to a financial advisor who may conduct an assessment. 

Generally, the criteria require that:

• You’re at least 18 years old

• You have a steady income

• Your annual household income is less than £80,000 outside of London or less than £90,000 in London

• You don’t currently own a home (or are in the process of selling it) 

• You can’t afford to buy a home on the open market

• You aren’t in mortgage or rent arrears

Specific eligibility details can be found on our website.

Shared Ownership is available to anyone who meets the eligibility criteria, including first-time buyers, second-steppers, downsizers and upsizers. It’s best suited to those looking to get on the property ladder who may not be able to buy a home otherwise. However, those who already own a home must have sold or be in the process of selling it to purchase a Shared Ownership property.

Shared Ownership is available to people between 18 and 54 years old. Older Persons Shared Ownership is a separate scheme for those aged 55+.

Yes, you must meet the above eligibility criteria, which require that you are at least 18 years old, can't afford to buy a suitable property on the open market, and do not own another home that you are not in the process of selling. Find the full list of eligibility criteria here. 

You can only buy a property specifically built for Shared Ownership. These properties are typically new builds but can also be resales. Check our properties page for available new-build homes or visit our resale website to search for pre-loved properties.

Check out the properties page on our website to view our current Shared Ownership apartments and houses for sale or visit property portals such as Zoopla or Share To Buy (a specialist Shared Ownership Portal). Elsewhere, some local councils list Shared Ownership homes available in their respective area. You can also sign up for property alerts or speak to an estate agent to stay informed about new home-buying opportunities under the scheme.

Initially, the minimum share you can purchase in a Shared Ownership property is typically between 25% and 75%. However, it can vary depending on the development, so it’s worth checking with us.  Please refer to Southern Housing’s Shared Ownership Sales Policy for further guidance. 

As the leaseholder of a Shared Ownership property, you’re responsible for maintaining and repairing your home, regardless of the share amount you own, just like any other homeowner. However, it’s always worth checking your building warranty, as some costs may be covered, and some things may benefit from an initial repair period.

Shared Ownership can be cheaper than private renting, as the associated costs are based on your owned share. The government subsidies the rental cost of Shared Ownership properties, and there are restrictions on rent rises. Shared Ownership also allows you to build equity in your home, holding part of it as an asset while paying subsidised rent on the remaining share, which is typically more cost-effective in the long term.

Feel free to start researching this season’s colour schemes, as you can paint and decorate your Shared Ownership home as you wish. However, your Shared Ownership lease will have details about major alterations to the property, such as new flooring or structural changes, which you may need permission for before commencing work.

It’s also advised to not decorate new-build homes in the first year, as you may need to redecorate again once the building materials, such as timber and plaster, have had time to settle and dry out.

Yes, but you need permission to make significant alterations to your home, with structural changes typically not allowed. Your lease will outline any restrictions on alterations. For more guidance, visit our leaseholder information page. Furthermore, our friendly team will be able to advise on any specific alterations you may have in mind.

Shared Ownership doesn’t mean shared living – unless you want to, of course. Shared Ownership properties can be purchased individually or with a partner, family member or friend. It’s a flexible option that often helps buyers to get on the property ladder.

Some furry friends are allowed in certain Shared Ownership properties, but it's essential to check with us and review your lease for any specific restrictions first.

Leasehold ownership is a long tenancy. Shared Ownership properties are typically leasehold because of the part-rent aspect of the property, giving you the right to occupy the home for a longer period, or the ‘term’ of the lease. As part of the government’s Affordable Homes Programme, it’s expected that lease terms will be extended to 999 years as standard. Your lease will outline your rights and responsibilities as a homeowner.

A resale property is a Shared Ownership home that is being sold by the current owner. You can purchase their share and take over their lease. When buying a resale home, the share you purchase must be equal to or higher than the current occupier's owned share.

Staircasing is the process of purchasing additional shares in your Shared Ownership property, increasing your ownership percentage over time and reducing the rent amount you'll pay. For example, if you started by holding a 25% share in your home, you could buy another 25%, giving you a 50% share. Depending on the terms of your lease, you can even build up to 100% ownership of your home.

You can sell your Shared Ownership home any time, and we’re here to help you do so. We have a unique database of people looking for a Shared Ownership home. Under the terms of your lease, you’ll have 8 weeks where we can assist you in finding another Shared Ownership buyer for your property. We have a great track record of finding buyers within this period. But, if we’re unsuccessful, you can sell your Shared Ownership home on the open property market at the full market value.

In most cases, subletting in a Shared Ownership home isn’t allowed. It could be a condition of your mortgage as your Shared Ownership home is designed to be your primary residence. Under some exceptional circumstances, you may be able to sublet for a specified period, in which case you’ll be required to obtain written permission first. Renting individual rooms (taking a lodger) can be agreed but check your lease before doing so. If you’re still unsure, you can contact our team for further advice.

You usually need to pay a monthly service charge when you buy a Shared Ownership home. This covers the cost of cleaning and maintaining shared areas and facilities in your development, such as communal gardens, lifts and shared corridors. You’ll be able to find more information about the specifics of your service charge within your lease agreement.

As a Shared Owner, you’re responsible for paying your mortgage, rent, utility bills, service charge and insurance payments. It’s also your responsibility to keep the property in good repair. You’ll need to seek permission before carrying out any structural changes. You’ll also be expected to allow us reasonable access to the property if we give advance notice. We’ll always clearly explain why we want access, so we won’t drop by unannounced – we’ll leave that to your family members. It’s also expected that you’ll not be involved in any anti-social behaviour at the property, and provide notice if you intend to sell your share in the home.

Without a property chain to slow down the process, buying a home with Shared Ownership is typically much quicker than buying on the open market, which takes an average of six months to complete. The average timeframe for a Shared Ownership property purchase can range from one to three months from the initial application to completion. However, it can vary depending on several factors, including construction time and mortgage arrangement.

While not legally required, it’s highly recommended that a survey is conducted on any new-build property before purchase. This can help identify potential issues that may have been missed or caused during the building process, such as cosmetic issues with paint or misaligned fixtures like handles and hinges. Any problems found during a survey tend to be minor, but serious concerns, like structural problems, can also be identified. It’s important that any issues are fixed before you move in so that you can relax in your dream new home.

Unlike buying on the open market, the deposit you need for Shared Ownership is based on the percentage you're purchasing, typically 5% to 10% of the share's value. For instance, if you buy a 25% share of a £300,000 home, your deposit will range from £3,750 to £7,500. Remember to budget for other costs like stamp duty, legal fees and moving expenses. 

Shared Ownership can apply to new-build and resale properties bought as part of the scheme that the owner wishes to sell. While we specialise in new-build developments, the Shared Ownership property you buy from us can depend on what’s available in your desired location.