Our award winning home ownership service helps people to buy a good quality home affordably.
We offer a range of home ownership options and services, but the main way we help customers buy first time is through shared ownership. Often referred to as ‘part-buy, part-rent’, because you buy a share in the full market value of the home and pay rent on the remainder, shared ownership is a great way to take your first step on the housing ladder.
You buy a share in a new or previously owned home (minimum 25% share up to a maximum 75% share) and pay us a subsidised rent on the share of the home we own (usually set at 2.75%) along with a service charge.
The monthly cost of shared ownership is less than the cost of buying the same home outright or renting it privately. Better still, you only pay a deposit on the share you buy, which means a smaller outlay to get that first step on the property ladder.
Buying a new home through shared ownership allows you to buy chain-free, you’ll benefit from a 10 or 12 year warranty, and new homes offer a great specification and better energy efficiency than older properties. You can buy further shares in your home, or the entire remaining share, as and when you can afford to.