Is Shared Ownership The Key To Your Dream Home
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With house prices rising faster than wages, many are turning to the Shared Ownership scheme as a way to get onto the property ladder. If you are a first-time buyer or someone who cannot afford to buy a home outright, you are not alone. But is Shared Ownership the key to unlocking your dream home? We will explore the Shared Ownership model to help you understand how Shared Ownership works and explain how it can help you to buy your first or next home.
What Is Shared Ownership?

Shared Ownership is a government-backed scheme designed to help first-time buyers and others who meet the eligibility criteria to get a foot on the property ladder. The Shared Ownership scheme allows you to buy a share (usually between 10% and 75%) of a shared ownership home, while paying rent on the remaining share to a housing association.
You willl need a deposit and mortgage only for the share you’re buying, making the upfront cost more manageable. Over time, you can increase your share through a process called Staircasing, eventually reaching full ownership if you choose.
How Does Shared Ownership Work?
Here’s how the Shared Ownership journey typically unfolds:
- Find a home that’s available under the Shared Ownership scheme.
- Check if you meet the eligibility criteria — for example, you must not currently own a home and must have a household income below a certain threshold.
- Buy a share of the Shared Ownership property — possibly 40% of the market value.
- Pay rent on the remaining share, plus service charges.
- Secure a Shared Ownership Mortgage for your initial share through a mortgage broker.
- Later, you can purchase a share of the remaining equity (i.e., staircasing) to eventually buy the home outright.
Why Shared Ownership Could Be the Key
Shared Ownership provides an opportunity to purchase a share in a home when you cannot afford to buy on the open market. It is designed to help people buy a home when full market prices seem out of reach.
Whether you are a first-time buyer looking to purchase your first home or you no longer qualify for Help to Buy, Shared Ownership offers a flexible, lower-cost route into homeownership. For many, Shared Ownership is the key to making home ownership dreams a reality.
The Benefits for First-Time Buyers

- Lower deposit requirements are only based on the share of the home you’re buying.
- Mortgage payments are typically lower than buying 100% of a home.
- You rent only the remaining share.
- A chance to gradually increase your share until you reach full ownership.
What to Know Before You Buy
While shared ownership can be a game-changer, it’s not for everyone. Here are some considerations:
- You’ll pay rent on the remaining portion of the property.
- There are service charges and maintenance obligations.
- Selling a Shared Ownership home can involve a different process — the housing association may have the right to find a buyer first.
- Staircasing incurs legal and valuation fees.
- You must remain within eligibility guidelines.
Can You Get a Shared Ownership Mortgage?
Yes — many lenders offer Shared Ownership Mortgages tailored to this model. A mortgage broker can help you find the right deal, factoring in the price of the share, your income, and other eligibility criteria.
Who Is Eligible?
To qualify for Shared Ownership, you must:
- Be a first-time or previous buyer who doesn’t currently own a home
- Meet the income limits
- Be unable to afford to buy a home on the open market
- Want to get onto or move up the property ladder
Is Shared Ownership Right for You?

Shared Ownership isn’t just a financial decision — it’s a lifestyle one. If you want stability, flexibility, and a path to homeownership, it could be the right fit. It allows you to buy now and gradually increase your equity over time. It is particularly useful in high-demand areas like London and the home counties, where starter homes on the market may feel out of reach.
Pros of Shared Ownership
Lower upfront costs: You only need a deposit on the share you’re buying, not the full market value.
Easier access to homeownership: Ideal for first-time buyers or those with limited savings.
Staircasing flexibility: You can increase your ownership gradually when finances allow.
Security and stability: You’re not renting from a private landlord who could evict you.
Cons to Consider
Rent + Mortgage payments: You will pay both, which might not be cheaper than renting or buying outright.
Leasehold complications: Most Shared Ownership homes are leasehold, which can involve fees and restrictions.
Staircasing costs: Legal and valuation fees apply each time you buy more shares.
Resale restrictions: Selling your share can be more complex, with housing associations often having first refusal.
Next Steps – Explore the Shared Ownership Option
If you’re ready to find a Shared Ownership home or simply want to learn more, now is the time to explore the options available in your area. From understanding how Shared Ownership works to calculating your mortgage options, there is plenty to consider. By booking an appointment with a housing provider or broker you too can begin your Shared Ownership journey.
Conclusion
Shared Ownership property purchase offers a unique opportunity for many aspiring homeowners to step onto the property ladder without the overwhelming financial burden often associated with traditional home buying. By allowing individuals to buy a share of a property and pay rent on the remaining portion, it can make homeownership more accessible and manageable. Explore your options today and take the first step towards making your dream a reality!