26 September 2022

Shared Ownership Made Simple

What is Shared Ownership?

Shared Ownership is a part-buy, part-rent government scheme that aims to help make it easier for buyers to get themselves on the property ladder. Shared Ownership is a great way to get on to the property ladder when you can’t quite afford to buy a home on the open market.


Who qualifies for the scheme?

One of the myths surrounding Shared Ownership is that you must be a first-time buyer to purchase a property with this scheme. This however is incorrect.
The Shared Ownership scheme is available to all buyers that meet the following criteria:
  • You are at least 18 years of age
  • You have a household income of less than £80,000
  • You have no ties to any other properties on completion
  • You are financially unable to buy on the open market


How does shared ownership work?

Buyers can purchase an initial share of a property ranging from 35%-75% of it’s value. However, overtime the buyer can purchase further shares making it possible for them to buy their property outright. Here we have included an accurate breakdown of one of our two-bedroom Holtby homes at Ellerwood in Skipton:



What are the advantages to Shared Ownership?

  • You can buy as much of the property as you can afford
  • It’s a great way to get out of the renting cycle and become a homeowner
  • You can own a high quality, new build home affordably
  • It’s a manageable way to purchase a home without needing a huge deposit
  • You own the home and can decorate it however you like
  • You can sell your home at any time and will benefit from any increase in value

Discover our Shared Ownership Homes.

Find out how you can make home ownership a reality with Shared Ownership.
Discover our homes