Shared ownership

Help to Buy: shared ownership is an affordable way to buy a home. It allows you to part-buy and part-rent a property as a home owner.

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Help to Buy: shared ownership can help you to get onto the property ladder and live in a new home without the need for a large deposit to buy a property.

To help you own your own home, when you buy with shared ownership you use a mortgage or other funds to buy a share of the property based on what's affordable for you. You then pay rent on the remaining value of the property.

For example, you could buy a 25% share of the property, and pay us rent for the remaining 75%.

You also have the chance to gradually buy further shares until you own your home outright.

Why shared ownership?

  • Affordability: shared ownership reduces the amount of money you need to borrow to buy a home. Although you would still need a deposit, it would be a smaller deposit as it’s based on the share of the property that you're buying, rather than the property’s full value.
  • No chain: if you’re buying a new shared ownership property there won’t be anyone currently living in it which removes a complication in the sales process.
  • Ready to move in: our homes often include ovens, hobs and other equipment, so you can enjoy your new home without needing to buy new appliances.
  • Peace of mind: new properties have a 10 year warranty (National House Building Council or similar) which covers faults in materials, workmanship and unexpected repairs.
  • Energy efficiency: new homes are built to the highest modern standards and often have energy saving features to help achieve high energy performance ratings.
  • Ongoing support: our expert home sales advisors guide you through the sales process. Our team also helps to deal with other support you may need once you’ve bought your home: we don’t just hand over the keys and walk away.  

How does shared ownership work?

To start with, you buy a share of the property - between 25% and 75% of the property’s full value. The share you buy depends on what you can afford: we calculate what you can afford to buy, and then you rent the remaining share of the property from us.

You normally need to have a deposit to buy your share of the property – this is usually equal to 10% of the value of the share you buy.

It’s likely you’d need a mortgage to pay for your share of the property. Some mortgage lenders ask for you to have a deposit higher than 10%, and some lenders less; this depends on the lender and your credit history.  

When you buy through shared ownership, we give you a 125 year lease that sets out your rights and responsibilities.

How to apply

We have a range of properties, including homes for re-sale, throughout the North East and Yorkshire available for shared ownership. You can view all our available properties.

You can apply for shared ownership through our partners Help to Buy NEYH. You can complete an online application on the Help to Buy website.

More information

Our team of home sales advisors can support you throughout the application and sales process. This helps you choose the right home for you and ensures you’re fully informed throughout the process.

Get in touch with our home sales advisors: