Is Help to Buy: Shared Ownership right for you?

Is Help to Buy: Shared Ownership right for you?

Help to Buy: Shared Ownership is a government-backed scheme that allows you to buy a share of the property and rent the remaining share from a Housing Association at a low-cost rate. You could own anywhere between 10% - 75%, meaning the deposit you put down will be much lower than if you were to buy on the open market, as you only need a deposit for the share you are purchasing. The scheme is designed to offer a helping hand onto the property ladder to those struggling to save or those with lower incomes.

The scheme is available to first time and next time buyers, looking to move onto or up the property ladder. To be eligible for the scheme, you will need to be registered with Help to Buy Agent for the South and want to live in one of the following areas:

  • Bedfordshire
  • Berkshire
  • Bristol, Bath, Somerset & Mendip
  • Buckinghamshire
  • Cambridgeshire
  • Cornwall (including the Isles of Scilly)
  • Devon
  • Dorset
  • East Sussex
  • Essex
  • Gloucestershire
  • Hampshire & Isle of Wight
  • Hertfordshire
  • Kent
  • Norfolk
  • Oxfordshire
  • Suffolk
  • Surrey
  • West Sussex
  • Wiltshire

You can find the eligibility criteria here.

The great thing about Help to Buy: Shared Ownership is that you will own part of your home which means you will be able to decorate as you please! If you do want to make any big changes, such as knocking down a wall or adding on an extension you would need to seek the Housing Association's permission first. This is because it could increase the value of your home.

You can also buy more shares and own more of your home in the future! Depending on the terms of your lease, you may be able to buy more shares when you can afford to. This is known as Staircasing. You do not have to if you do not want to and can stay a Shared Owner forever, owning the same share as you did when you moved in. However, if you do buy more shares, the rent you pay on the share you do not own will be less. A surveyor will normally assess the value of your home based on the market value at that time, so that the value of further shares can be calculated.

Selling your Help to Buy: Shared Ownership home is possible and you will need to speak to the Housing Association that dealt with the original purchase. The terms of your lease will specify a period of time when your property will be marketed for sale by the Housing Association you originally purchased through. This ensures that other people are able to benefit from affordable home ownership. The Housing Association will charge to do this, but it is likely to be cheaper than if you were to sell through an estate agent. The property is then sold at the market value at the time of resale. If your Housing Association is unable to find a buyer for your share, it may be possible to sell your home on the open market. So if you're ready to start climbing the property ladder, take a look at our website and start your home ownership journey today!

For more information, call us on 0800 456 1188 or send us an email at

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