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Find out about buying a home through shared ownership. Read about who can apply, costs, paying rent, buying more shares and repairing and selling your home.
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The government announced a new version of Shared Ownership in April 2021, but it won’t be available on homes for sale until 2022 (with a limited number available before then). The best way to check if a home qualifies for the new version is to ask the provider when you make an enquiry.
Shared ownership is a scheme offered by some housing providers that allows you to buy a share of a property, and then pay rent on the remaining part. It can be a more affordable route – compared to buying a home outright – for first time buyers, or those that don’t currently own a home, to get onto the property ladder.
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Find out how to apply for shared ownership (GOV.UK). Shared Ownership offers you the chance to buy a share of your home (between 10-75% of the home’s value) and pay rent on the remaining share.
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How much does a share of a home cost?
Shared Ownership provides an affordable way to buy a property. Simply purchase a share in a brand-new home and pay a subsidised rent on the remaining. In the future, if you wish, you can usually buy further shares until you own your home outright.