When it comes to home ownership, there are several routes available for potential homeowners. One of these options is shared ownership, a unique approach that allows you to co-own a home with a housing association. If you’ve ever wondered: “What is shared ownership?”, this guide is designed to help you understand this housing scheme and its various aspects.


What is Shared Ownership?

Shared ownership is a housing scheme where you co-own your home with a housing association. It’s a unique arrangement that offers a more affordable path to home ownership, especially for first-time buyers or those who cannot afford to buy a home outright.


The Basics of Shared Ownership

In a shared ownership scheme, you purchase a share of a property, typically between 25% to 75%, using a mortgage or savings. You then pay rent on the remaining share to the housing association. This arrangement essentially creates a part-buy, part-rent scenario, making it a more affordable option for many prospective homeowners.


Staircasing: The Option to Own More

One of the unique aspects of shared ownership is the concept of “staircasing”. Staircasing refers to the option to purchase a larger share of your home in the future. This can be a great option if your financial situation improves over time. However, it’s important to note that there is no obligation to staircase – it’s entirely up to you and your circumstances.


The Benefits of a Larger Share

Owning a larger share of your home can come with several benefits. For one, it can significantly reduce the amount of rent you pay to the housing association. In fact, if the terms of your lease allow, you could eventually look to own the property in full. This could provide a clear path to full homeownership, which may not have been initially possible for many shared owners.


Get the Right Advice

If you’re considering shared ownership, it’s important to get the right advice. Talk to an adviser who can help you understand if this scheme is the right fit for your needs. They can help you understand the pros and cons, and guide you through the process of purchasing a shared ownership property.


Contact Mortgagemove

If you want to discuss shared ownership or any other aspects of home buying, don’t hesitate to contact our advisers today. We’re here to provide the guidance you need to make informed decisions about your housing options. Speak to us today.

Phone us directly on 0333 005 0333,

or text ADVICE to 82228.

or email us at [email protected]


Mortgage Move is a trade name of Nicholas Financial Limited, which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.

Back to all blogs