About Shared Ownership

What Is Shared Ownership?

Shared Ownership is another way to buy your home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell. Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Our commitment to providing homes for all means that we’ve built hundreds of new homes throughout the North West for people that need them. By purchasing a Shared Ownership home with Onward Living you can be sure you will get the quality and comfort expected from a new build home.

  • Step on the Ladder
  • Smaller Deposit
  • Pay Less Rent
  • Personalise It
  • Buy More Shares
  • Sell It

Shared Ownership Guide

How Does Shared Ownership Work?

Shared Ownership allows you buy a percentage share of a home based on what you can afford. This means a lower deposit and a smaller mortgage, making it an affordable way to get on the property ladder.

You start by buying between 10% and 75%* of your home and pay a monthly rent to us on the rest.

In the future, you can buy more of your property and increase your ownership to 100%, or sell the share that you own if you decide to move on. Until then, it’s your home to make your own!

For Example

  • You are buying a 50% share in a home worth £200,000.

  • You therefore need a deposit and mortgage for £100,000.

  • You would then pay a small monthly rent on the 50% share you don’t own.


Who Can Buy?

It’s not just for first time buyers! Shared Ownership is a great option for a range of purchasers who want to get their foot onto the property ladder, but cannot afford to buy a home outright on the open market. For example, they’re planning to start a family, have experienced a relationship breakdown or wanting to downsize.

All homes bought through Shared Ownership are leasehold and your lease agreement sets out your rights and obligations in full. It’s important to go through all of these details with your solicitor. In most cases, you can buy 100% of your home outright and become the freeholder. It’s always best to ask first though, so please get I touch with the team if you have any questions.

Older People’s Shared Ownership

Older People’s Shared Ownership (OPSO) is a scheme available for those aged 55 or over, which enables purchasers to part buy/part rent a home, whether it be because they want to downsize from their existing family home, or their current property no longer meets their needs.

This scheme works in a similar way to Shared Ownership, however one of the key differences is that the maximum percentage of the home you can own is 75%. Once you own 75% of your home, you stop paying rent.

So, whether you’re a first time buyer or home mover, Shared Ownership can help you get a home better suited to your needs! Contact the Onward Living sales team here.

We are delighted to be a SharedOwnership.net partner and are committed to building awareness and understanding of shared ownership.

How Much Can I Afford?

Get a clear idea of what share size might be affordable to you.

Check Affordability


*Please note that a range of purchase options between 10% and 75% may be possible, depending on what the buyer can afford. A minimum share percentage may apply to Onward Living developments as per the Sales Policy, please speak to one of the team for confirmation.