Have your share withShared ownership

Getting the keys to your first new home could be easier than you think with this popular government-backed scheme. If you've found the Persona home that is right for you, take the first steps to owning it with shared ownership.

Trinity Mere - Internal Kitchen

What is shared ownership?

This part buy, part rent scheme gives first-time buyers and those that do not currently own a home the opportunity to buy a brand new home. Buy the portion you can afford now, and over time you can purchase the rest.

What is shared ownership?

This part buy, part rent scheme gives first-time buyers and those that do not currently own a home the opportunity to buy a brand new home. Buy the portion you can afford now, and over time you can purchase the rest.

Do I qualify?

If all these statements apply to you then yes you do!

  • You don’t currently own a home or have an interest in a home and can’t afford to buy one outright

  • You have at least a 5% mortgage deposit available for the percentage of the home you would like to buy

  • Your combined household income is less than £80,000 or less than £90,000 in London

  • You can afford the monthly mortgage, rent and service charge payments

How does it work?

You pay a mortgage on the share you buy of your chosen home; this is between 25% and 75% of the value and is based on a quick and simple affordability check which we carry out with you. You then pay a reduced rent on the remaining share that you have not purchased.

The good news is, your mortgage deposit of 5% is based on the value of the share that you purchase so will be a lot less than it would be if you were purchasing a home outright.

Can I fully own my home?

Absolutely! You can buy more shares in your home as and when you can afford it; this process is called staircasing. The more shares you have in your home, the less rent you will pay until eventually you own your home outright and no longer pay rent to us.

Want to learn more?

Shared ownership is available on selected developments and properties. You can find more detail on the scheme here or give us a call on 0800 030 8888 and let us help you get that new home feeling.

Keen to find out more?

Whether you’d like to book a viewing or simply have a quick introductory chat, our helpful advisory team would love to hear from you.