Shared Ownership: Your buying steps

May 2019
So you’ve found your dream home and you want to use Shared Ownership to purchase it. What happens next?


Whether you’re a first time buyer, you have previously owned a home but can’t afford to buy one now, or are an existing owner looking to move, you could be eligible for Shared Ownership. Our team need to ensure you're eligible and match the criteria (read it here). 

Once you've found the home you'd like to purchase, you need to fill in our application form. You can find the application form here.
I’ve sent off my application but I’ve received an error email... what should I do?
Once you’ve submitted your application form, our team will review it. If there is something wrong, you may receive an email to say your application is ‘pending’. Don’t panic! In the email, it will tell you what to do next. The majority of the time, your next instruction will be to contact our team who may have a few questions about your application.
Our team are always on hand to help you through your process. If you have any queries when filling out your application, you can contact us on 0113 825 6888 or email us at
Why do I need to undergo an affordability test to qualify for Shared Ownership?
Shared ownership uses public funding to help build new homes and needs to ensure that these funds are being used in the right way. The affordability criteria is in place to make sure that the right people are able to access this funding.

The scheme’s main aim is to enable those who just cannot afford to a home on the open market, to be able to buy a new home without the need for that massive deposit up front.

(You will still need to find a deposit but this will be based on the share that you are going to purchase and not on the full price of the property).
Other FAQS:
What is a leasehold property?
If you’ve been searching for a new home, you may have heard the term ‘leasehold’ thrown around. For shared ownership you are only buying part of the property (anything between 25-75% initially). Therefore your housing association will own the remainder and the freehold to the property. This is why you will have to pay a certain amount in service charges each month.

However once you have decided that you want to buy out the remaining shares then you will own the property outright including the freehold.   
Are all Shared Ownership homes leasehold?
Initially yes – this is because you don’t own 100% of the property.  Once you have purchased the remaining shares from the housing association then you will own the freehold to your property.

There are exceptions to this – for example if you purchase a flat/apartment this will always be on a leasehold as the fabric of the whole building will be managed by the housing association.
I have a house to sell, but I want to buy with Shared Ownership. Will I be eligible?
You may be eligible but there are a few things that we need to check first before we can approve your application:
  1. Before you can buy a home with shared ownership, you need to sell your current property. The sale of your existing property goes through before you complete on your purchase.
  2. Are you going to receive any equity from this sale? This will need to be taken into account when we assess your application to ensure that you are in housing need to take part in the scheme.
I have some savings, do I have to put all my savings towards my Shared Ownership home?
When your affordability is assessed, savings (shares, land, bonds & other financial investments) will be taken into consideration.
You can’t have anymore than £5,000 in your savings after you’ve purchased a shared ownership home (there are exceptions to this if you are buying through Older Persons Shared Ownership).
Shared Ownership is designed to help people buy a home at an affordable rate. If a buyer has savings, they are expected to cash these in and put the funds towards the new home.