Shared Ownership: A Smarter Path To Owning Your Home

Shared ownership helps you step onto the property ladder sooner by buying a share of a home and paying rent on the rest. This guide breaks down how it works, who it’s for, and how Jones Robinson can support you every step of the way.

What is shared ownership and how does it work?

For many aspiring homeowners, saving for a full deposit while paying rent feels like a never ending loop. Shared ownership offers a more achievable way in. It allows you to buy a share of a home, typically between 25% and 75%, and pay a reduced rent on the remainder.

The scheme is designed to help those who can’t afford to buy outright. You’ll usually purchase your share through a housing association and take out a mortgage for the part you own. Over time, you can increase your share in the property, a process called staircasing, until you own it fully.For more detailed guidance, you can also refer to The Right to Shared Ownership – A guide for tenants.

Eligibility is generally based on income and whether you're a first time buyer, a former homeowner who can’t afford to buy again, or someone with a specific housing need (such as being a key worker). Each scheme has its own criteria, but most are open to households earning less than £80,000 annually (or £90,000 in London).

Shared ownership homes are often leasehold, and while you do have the right to live in the property as your own, there are usually rules around subletting, alterations, and selling your share. 

If you’re weighing up different buying options, you might also find it useful to read our guide on what a cash buyer is.

Is shared ownership right for you?

Shared ownership isn’t for everyone, but it suits many people struggling to get on the property ladder. It’s ideal if you’re a first time buyer, a key worker, or someone with a steady income who can’t afford a full mortgage right now.

Pros and cons at a glance:

Shared ownership	Traditional buying
Lower deposit and monthly costs	Requires full deposit upfront
Option to buy more shares later	Full ownership from the start
Rent payable on the remaining share	No rent payments
Some restrictions on selling and changes	Full control over property

However, there are some limitations. Shared ownership properties are often leasehold and may restrict renting out the home. Also, staircasing to 100% ownership can take time and additional funds. Consider whether you’re comfortable with these conditions before deciding. 

The benefits of buying through shared ownership

Shared ownership offers several clear advantages that make homeownership more accessible:

• Lower upfront costs: You only need a deposit on your share, reducing the initial financial barrier.

• Step onto the property ladder sooner: Pay less rent than a full market rate, making monthly payments more manageable.
• Flexibility to increase ownership: Staircase gradually to full ownership when you’re financially ready.
• Access to desirable locations: Buy a home in areas that might be otherwise unaffordable.
• Greater security than renting: Enjoy the stability of homeownership with fewer landlord restrictions. 

How Jones Robinson helps shared ownership buyers

Navigating shared ownership can be complex, but you don’t have to do it alone. At Jones Robinson, our experienced staff members will help you find the right shared ownership property that fits your budget and lifestyle, explore available options on our for sale page, or give your local branch a call.

Our team understands the local market and the specifics of shared ownership schemes. From the initial search to completing the purchase, we provide clear guidance and expert advice. Whether it’s explaining the staircasing process or helping with paperwork, we’re here to make your journey smoother.

Costs to expect with shared ownership

Understanding the financial commitments of shared ownership helps you plan better. Here’s what to expect:

Initial costs:

• Deposit on your share (usually 5-10%)

• Legal fees for conveyancing

• Mortgage arrangement fees

Ongoing costs:

• Rent on the share you don’t own (typically below market rate)

• Service charges and ground rent (for leasehold properties)

• Maintenance and repairs

Lenders assess your affordability based on combined rent and mortgage payments, so it’s important to budget accordingly.

Cost type	Typical amount	Notes
Deposit	5-10% of your share price	Lower than full purchase deposit
Rent	2.75% - 3% of remaining value	Below market rent rate
Service charges	Varies by property	Covers communal maintenance
Legal fees	£500 - £1500	Depends on solicitor and complexity
Maintenance	Variable	Owner’s responsibility for repairs

 

Your rights and responsibilities as a shared owner

When you buy through shared ownership, you gain important rights but also take on specific responsibilities:

• Lease terms: You’ll hold a lease that usually lasts 99 to 125 years, detailing your rights and obligations.

• Repairs and maintenance: You’re responsible for maintaining your share of the property, including repairs inside your home. The housing association typically handles communal areas.
• Rent payments: You must pay rent on the part of the property you don’t own, usually monthly.
• Selling your share: When you want to sell, the housing association usually has the first right to find a buyer, ensuring the property remains within the shared ownership scheme.
• Staircasing: You can buy additional shares over time, increasing your ownership until you fully own the property.

Understanding these responsibilities upfront helps you avoid surprises and plan for the future confidently.  

FAQs 

Can I buy more shares later?

Yes, through a process called staircasing, you can purchase additional shares—often in increments of 10%—until you own 100% of the property.

What happens when I want to sell?
You usually need to offer your share back to the housing association first. If they don’t find a buyer within a set time, you may be able to sell on the open market.

Do I need a mortgage?
Yes, you’ll typically need a mortgage to buy your share. However, the deposit and mortgage will be smaller than buying outright.

Is shared ownership only for new builds?
No, while many shared ownership properties are new builds, some existing homes are available through the scheme.

Can I decorate or renovate the property?
Generally, you can make internal changes, but major alterations usually require permission from the housing association.

What happens if I fall behind on rent?
Falling behind on rent can lead to serious consequences, including potential eviction. It’s important to communicate early with your housing association if you face difficulties.

 

For expert guidance on shared ownership, get in touch with your local Jones Robinson Group branch:

Devizes: 01380 730200

Didcot: 01235 816222

Lambourn & Hungerford: 01488 73337

Marlborough & Pewsey: 01672 556640

Newbury: 01635 35010