If you can’t quite afford the mortgage on 100% of a home, Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to, this is called staircasing.

You could buy a home through Greatwell Homes Shared Ownership scheme:

Your household earns £80,000 a year or less outside London, or your household earns £90,000 a year or less in London.

You are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move.

With Shared Ownership you can buy a newly built home or an existing one through resale programmes from Greatwell Homes. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold.

Only military personnel will be given priority over other groups through government funded shared ownership schemes. However, Greatwell Homes own shared ownership home-building programmes may have some priority groups, based on local housing needs.

As a shared owner, you are responsible for the costs of all repair, apart from any work to the fabric of the building covered by our insurance. We arrange and recharge you for the cost of buildings insurance, but you need to get your own home contents insurance.

Applying for a Shared Ownership property

To buy or rent a home through Greatwell Homes please fill out the ‘register to apply form’ and post it to the stated address on the form or contact the Greatwell Living Team on 01933 234450 or
email: living@greatwellhomes.org.uk

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