What is shared ownership?
Shared ownership is a national scheme that helps you to buy your dream home! Start by buying between 10% and 75% of your home and paying an affordable rent on the rest. Buy more when you can. This means a smaller deposit, smaller mortgage repayments and the flexibility to increase your shares whenever you're ready.
You could be eligible for shared ownership if you:
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have a household income of under £80,000;
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own no other property in the UK or overseas;
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have a good credit history and can afford the cost and regular payments involved in buying a home; and
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have savings of at least 5-10% deposit on the share of the property that you are buying.
Shared ownership means:
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your monthly repayments could be less than renting privately;
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the deposit required is smaller as you are only buying a share of the property;
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you can purchase further shares (known as staircasing) in the property until you own it outright (in most cases);
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you are able to take the first step onto the property ladder.
Shared ownership does not mean:
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living with a stranger;
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you can't sell your home;
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living in an undesirable area; or
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you can't make your house your own.
Our developments
We have a range of beautiful shared ownership developments across Yorkshire.
Ready to find your dream home?
Use our Property Search to see all our homes.
Below is an example of a total monthly payment under our shared ownership scheme.
| Item | Cost |
| Full house price | £155,000 |
| 50% share | £77,500 |
| Monthly mortgage payments * | £435.32 |
| Rent and charges ** | £177.60 |
| Total monthly payment | £621.92 |
* Monthly mortgage payment based on a 25-year mortgage at 5% interest rate (interest rates may vary) with a 5% deposit paid.
** Rent and charges reviewed annually.
The minimum deposit needed for a property on the shared ownership scheme varies, it is usually between 5-10% of the share of the property that you are buying.
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A £200 reservation fee.
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Legal fees.
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Mortgage application fees.
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Mortgage payments.
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Rent and service charges including buildings insurance.
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Stamp duty.
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Mortgage protection insurance.
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Contents insurance.
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Repairs and maintenance after the builders guarantee period.
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Council tax.
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Household bills.
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Carpets and furniture.
You can buy further shares in your property at any time. This process is called staircasing and can be as little as 1% meaning the cost of purchasing 100% of your home can be spread out affordably.
You can sell your shared ownership home at any time.
Firstly, you’d contact us to confirm that you are selling your share. We will even help you to sell your home and will appoint a dedicated sales advisor who will guide you through the process. If the market value of the property has increased, both WDH and the owner will benefit from any profit, if it has decreased, both parties will stand the loss. If the seller decides to accept a lower amount of the current market value, they have to accept the full loss themselves.
View our steps to resale guide.
Please visit our making changes to your home page for further information.
If you are on the shared ownership scheme, you must occupy the property. You cannot sublet the property to anyone else.
A copy of the procedures for shared ownership will be given to you at the initial completion of the sale and your solicitor will also provide you with a copy of the lease.
If you would like more information please visit Government website. If you have any questions our Sales team will be happy to help. You can email the team at homebuy@wdh.co.uk or call 01977 788830.
How to apply
You can check your eligibility for shared ownership on the gov.uk website or alternatively contact our sales team at Homebuy@wdh.co.uk or call 01977 788830. You will be signposted to an independent financial advisor who will ask you some key questions to help you understand your eligibility as well as providing mortgage advice to support you on your shared ownership journey.
If you are eligible and would like to reserve one of our shared ownership homes, you will need to contact Metro Finance on 0114 270 1444 or visit the Metro Finance website
Once you have received a Mortgage in Principle, please contact us and we will guide you through your shared ownership journey.
View our Steps to Reservation guide
