What is Shared Ownership?

Shared ownership means you part buy and part rent a home, with the smallest initial share you can buy being 10%, and the largest initial share you can buy being 75%.  

You will need savings and/or a mortgage to pay for the share you want to buy, and you will pay a monthly rent on the share you don’t own.  

Recent government announcements mean that as a tenant of a housing provider, you may have a right to shared ownership of your current property. This means, if eligible you will be able to purchase a percentage of your current rented home. 

Does the scheme apply to me?

There are a few different points of criteria you must meet to be able to qualify for the scheme.

Full eligibility requirements can be found on the government website by clicking the button below.

Could I be exempt from the scheme?

In some cases, even if you meet the criteria, you may be exempt from the scheme.

You can find details of exemptions on the government website by clicking the button below.

I think I qualify – what’s next?

Get in touch with our sales team at helptobuy@54northhomes.co.uk, they’ll be able to confirm your eligibility for the scheme and if successful will send you the relevant application forms. You must return these forms via email. 

We then have 8 weeks to review and respond to your application. If you are unsuccessful, we are obliged to send you a full explanation as to why. If you are successful, we will then schedule a home ownership meeting to discuss progressing your application.  

If you are successful in your application, you may fall under the new model lease for shared ownership homes. You can find more about this HERE.