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What You Can Buy In Different Areas With Shared Ownership

What You Can Buy In Different Areas With Shared Ownership

By Miranda Harding
Published 15 May 2022

Shared Ownership is a popular government scheme. Read our guide to the different types of property you can buy in the UK with Shared Ownership.

In this guide

Shared Ownership is a government scheme that aims to make it easier for buyers to get on the property ladder through part owning/part renting. Essentially, the buyer pays a mortgage on the percentage of the property that they own and pays rent on the remaining amount. This means that the deposit they put down tends to be a lot lower than it would be if they were to purchase the entire property outright. This has made Shared Ownership a popular choice for those that are struggling to save large enough house deposit or have been priced out from buying in expensive areas such as London.

However, London isn’t the only place in the UK that offers this discounted scheme. Let’s take a look at what you can get in different areas of the UK with the Shared Ownership scheme.

How does shared ownership work?

Shared Ownership allows you to buy a share of a property. The share you are usually allowed to purchase is between 25-75% (however, there are different rules depending on whether you are buying in England, Scotland, Wales, or Northern Ireland).

As you are buying a share in a property (and not the whole property outright), you have to pay rent on the part you can’t afford to a housing association. See it as a ‘part rent, part buy’ scheme. 

Pros and cons of shared ownership

Pros

You’ll be responsible for all home repairs, even if you don’t own all the property

You’ll have to pay rent as well as mortgage repayments 

It can be difficult to ‘staircase’ if the value of the property increases over time

You’ll be responsible for the upkeep of the property, despite not owning 100% 

Cons

Can get on the ladder quicker 

Can buy additional shares in the future

It can be cheaper than renting

You can sell at any time, and you could benefit from any increase in the property value

Shared ownership in London

Block of flats in London with grass and planters in the foreground.

Block of flats in London with grass and planters in the foreground.

1 bedroom apartment for sale in Bermondsey, London.

Full price: £550,000

Sale price: £165,000

Share percentage: 30%

Minimum deposit: £8250

Shared ownership in Bristol

Three blocks of cladded white and brick flats against a blue sky.

Three blocks of cladded white and brick flats against a blue sky.

1 bedroom apartment for sale in Central Bristol

Full price: £265,000

Sale price: £132,500

Share percentage: 50%

Minimum deposit: £6625

Shared ownership in Essex

Large brick building against a blue sky, with a steel balcony on the right hand side.

Large brick building against a blue sky, with a steel balcony on the right hand side.

2 bedroom apartment for sale in Maldon

Full price: £260,000

Sale price: £130,000

Share percentage: 50%

Minimum deposit: £13,000

Shared ownership in Milton Keynes

Large block of flats with grass in the foreground.

Large block of flats with grass in the foreground.

2 bedroom apartment for sale in Maldon

Full price: £290,000

Sale price: £145,000

Share percentage: 50%

Minimum deposit: £7250

Shared ownership in Northampton 

Three storey brick house with a white extension to the left.

Three storey brick house with a white extension to the left.

4 bedroom house for sale in Northampton

Full price: £320,000

Sale price: £80,000

Share percentage: 25%

Minimum deposit: £4000

Shared ownership in the West Midlands

Large block of brick flats with a path leading through the centre of the image.

Large block of brick flats with a path leading through the centre of the image.

2 bedroom flat for sale in Birmingham

Full price: £125,000

Sale price: £62,500

Share percentage: 50%

Minimum deposit: £6,250