What is Shared Ownership?

Shared Ownership is a way for first time buyers who can’t afford to buy outright to get on the property ladder. It allows you to buy a part share in a home and pay a subsidised rent on the remaining share.

It’s backed by the government, and is a way to buy a share in a home now with the option to buy more of it in the future. You’ll need a minimum level of income/savings depending on the value of the home you want to buy. Depending on which lender you use, the deposit can be as little as 5% of the share value.

We aim to sell to first time buyers who are able to afford the cost of Shared Ownership but are unable to buy a suitable home on the open market. You will buy your home on a lease which will normally be 125 years for new homes. You will own an equity share in your new home.

For more information about Shared Ownership, read this guide on the website of our development arm, Gecko Homes.