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What is Shared Ownership?

Shared Ownership scheme, how to apply, deposits and mortgages, shares and selling.

Shared Ownership is a scheme for people who cannot afford to buy a home on the open market.  You buy a share of the property and pay an affordable rent on the remainder with initial shares available from 10% up to 75% (your sales advisor will be able to advise on the minimum share as this will vary across developments).

Details of properties available to purchase on the Shared Ownership scheme can be found by visiting the
Shared Ownership pages of our website.

  • Monthly repayments could be less than renting privately.
  • The deposit required is smaller as you are only buying a share of the property.
  • You can purchase further shares (known as staircasing) in the property until you own it outright (in most cases).
  • You are able to take the first step onto the property ladder.

Can I apply?

You have to meet certain criteria to apply for the shared ownership scheme.

  • You have a household income of under 80k (90k in London).                                     
  • Own no other property in the UK or overseas.
  • Have a good credit history and can afford the cost and regular payments involved in buying a home.
  • Have savings or at least 5 -10% deposit on the share of the property that you are buying .

How do I 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 (insert hyperlink here)  

How much is the deposit?

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

Can I buy more shares in the property later?

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.  

What happens when I want to sell the property?

  You can sell your shared ownership home at any time.  Firstly, you would contact WDH to confirm that you are selling your share.  WDH will even help you to sell your home.  We will appoint a dedicated sales advisor who will guide you through the process   

Can I rent the property to someone else?

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 on shared ownership please visit the Shared Ownership pages or the
Government website pages.  If you have any queries contact our Sales team at homebuy@wdh.co.uk or call
01977 788830

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