Shared Ownership Schemes

Shared ownership schemes are provided through housing associations. You buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share.

You’ll need to take out a mortgage to pay for your share of the home’s purchase price.
Shared ownership properties are always leasehold.

Buying more shares

You can buy more shares in your home any time after you become the owner. This is known as staircasing.

The cost of your new share will depend on how much your home is worth when you want to buy the share. If property prices in your area have gone up, you’ll pay more than for your first share. If your home has dropped in value, your new share will be cheaper.

The housing association will get the property valued and let you know the cost of your new share. You’ll have to pay the valuer’s fee.

Selling your home

If you own 100% of your home, you can sell it yourself. Nevertheles, when you put it up for sale, the housing association has the right to buy the property back first. This is known as ‘first refusal’ and the housing association has this right for 21 years after you fully own the home.

If you own a share of your home, the housing association has the right to find a buyer for it.

Sarah Evans
Head of Department
Chichester
01243 812306
Jannette Luker
East Wittering
01243 671782
Roger Stone
Partner and Head of Commercial
Chichester
01243 812308
Andrew Boyd
Selsey
01243 602832
Bernadette Kelly
Licensed Conveyancer
Chichester
01243 812303
George Fielding
Chichester
01243 812304