As with any big investment decision, this all depends on your personal circumstances. Here are 5 questions that may be helpful.

1) Do I want to own a home?

Home ownership is not for everyone. There are many reasons people may wish to rent instead of buying. For example their job requires frequent re-location or they would rather pay monthly rent than have the uncertainty of property maintenance bills. However, Britain is still a home owning nation and many of us want the security of having a place of our own.

2) Can I afford a home on the open market?

Shared ownership homes are for those who cannot afford to buy a property on the open market. Those with a household income of less than £80k per year qualify for shared ownership.

3) Can I afford the monthly costs of shared ownership?

When you have a shared ownership home you pay your mortgage on the part you own and pay a rent on the remaining part. When applying for a shared ownership home you will be asked to submit details of your finances (as you do for a mortgage) to make sure you will be able to make the monthly payments. Overall the cost of the mortgage and rent should be lower than if you were paying market rent, but it will depend on your financial position, amount of deposit and mortgage rate.

4) Do I have a deposit?

To obtain a mortgage on the property you will need a deposit of at least 10% of the price of the share you are buying. So, if you are buying 50% of a home that is valued at £200,000 you will need a deposit of between £10,000 and £15,000. If you were buying the whole property you would need a much higher deposit.

5) Is there a home I want to buy?

Finding the right home can be tricky but with the help of websites like Zoopla and Rightmove it is now easier because you can search just for shared ownership properties.  You should register with the Help to Buy Agent for your area to confirm your eligibility for shared ownership and they will have a list of properties for sale on their website. You can also look at the properties for sale on our website but please be aware that there are strict local connection requirements for some of the properties listed.

If you have any questions, please get in touch by emailing us (