A step forwards

Shared Ownership

There are many ways to buy your home and not every option is suitable for everyone so, depending on your circumstances, you may be looking into different ways to secure your next home and Shared Ownership might be a great opportunity to help you move forwards.

What is Shared Ownership?

Become a homeowner at your own pace.

If you have your heart set on owning your home but are not in a position to buy on the open market it doesn’t necessarily have to be the end of the story.

Shared Ownership enables you to buy between 10% and 75% of the home’s value and pay rent on the remaining share on selected properties.

This option, as we know it today, was introduced by the Government back in the 1980s and has helped countless families to take their first step onto the property ladder when they haven’t been able to buy a home outright.

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Am I eligible for a Shared Ownership home?

It’s important to note that there are a few criteria that you must meet to be eligible for the Shared Ownership scheme. For example, you can't currently own a home or if you do it must be under offer and the sale completed prior to the completion of the purchase of a Shared Ownership home. This works well for people needing to upsize but don’t have the funds to purchase what they need on the open market.

You must also have a combined household income below £80,000 a year (£90,000 in London).

If you have any questions about eligibility, you can speak to your local Shared Ownership expert today.

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Tenant top tips-Wards of Kent-Arun Estates

How can a Shared Ownership home benefit me?

You can purchase a home from as little as 10% of the property’s value, allowing you to move forward for a fraction of the price.

This also means that the deposit for the property is usually lower when compared to the full amount, as you are only purchasing a share of the home.

You will not own the property outright but, as and when your financial circumstance improves, you are even able to buy more of a share in the property, also known as staircasing.

Double listing couple-Wards of Kent-Arun Estates

How do I find out more about Shared Ownership?

You can find out more about Shared Ownership schemes on the Government’s website or why not speak to your local Shared Ownership experts?

Wards have an in-house Shared Ownership department ready to discuss options with you and do all we can to find the best route for you.

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A step forwards

Shared Ownership

Become a homeowner at your own pace.

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We've helped thousands of people just like you