Shared Ownership Property

What is Shared Ownership?

Shared Ownership offers an affordable route to homeownership for first-time buyers and existing homeowners. You purchase a share in a new build or resale property and pay a subsidised rent on the remaining share to a housing association. This means smaller deposits and lower mortgage requirements compared to buying outright. Over time, you can increase your share through ‘staircasing’, potentially owning 100% of your home and removing rent payments. At Amicus Law, we specialise in guiding clients through every stage of Shared Ownership – from buying your first share to staircasing or selling your property.

Why choose Shared Ownership?

Shared Ownership makes homeownership more accessible with lower upfront costs and flexible options to increase your share. Our experienced team ensures a smooth process, protecting your interests every step of the way.

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Shared Ownership FAQs: what you need to know

Discover how Shared Ownership works, who qualifies, and what rules apply. From eligibility to staircasing, our FAQs make it simple to understand your path to homeownership.

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What is Shared Ownership and how does it work?

Shared Ownership allows you to buy a share of a property (usually between 10% and 75%) and pay rent on the remaining share to a housing association. Over time, you can buy more shares through a process called staircasing.

Who is eligible for Shared Ownership?

You may be eligible if your household income is under £80,000 (£90,000 in London), you can’t afford to buy a home outright, and you don’t currently own another property. There may also be local eligibility criteria set by the housing provider.

Can I buy a Shared Ownership property if I already own a home?

Generally, no. Shared Ownership is aimed at people who don’t currently own a home. You must sell any property you own before completing a Shared Ownership purchase.

How much of the property do I have to buy initially?

Under the new model lease, the minimum initial share is 10%, although many providers still offer shares starting from 25%.

Can I rent out my Shared Ownership property?

No, subletting is not permitted unless you own 100% of the property or have written permission from the housing association in exceptional circumstances.

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Expert support at every step

At Amicus Law, we understand the complexities of Shared Ownership. Whether buying, staircasing, or selling, our dedicated team provides clear advice and efficient service, ensuring your journey is stress-free and successful.

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At Amicus Law, we believe that our people are our greatest asset. Our team of experienced and dedicated lawyers and support staff are passionate about providing our clients with the best possible service.

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