Shared ownership helps you buy a home in stages, paying subsidised rent on the part you do not own. In most cases, you will be able to buy further shares until you own the properly outright.

The scheme is available to anyone whose annual household income is less than £80,000 per year. Other conditions apply.

Indicative cost

In December 2024, the indicative monthly cost of owning 30% of a property worth £400,000 was £1,590.86:

• Value of property: £400,000
• Value of a 30% share: £120,000
• Monthly rent: £870.52
• Monthly service charge: £70.60
• Monthly mortgage: £649.74 – based on a rate of 5.29% over 25 years with a 10% deposit
• Total monthly rent, service charge and mortgage: £1,590.86

Service charges, management fees and ground rent might also apply, and you’ll be responsible for all repairs and maintenance

You’ll also need to pay legal and survey fees, and stamp duty if the value of the property amounts to more than £125,000.

Your home could be repossessed if you do not keep up repayments on your mortgage.

Read the government’s guidance about finding a shared ownership home.