Shared Ownership

Shared Ownership is a scheme designed to assist those who are struggling to save a deposit for a home on the open market. You buy a share of the property, usually between 10% and 75%, and pay a low-cost rent to Abri on the remaining share. Usually, you’ll only need a 5% deposit of the share you’re buying, so you could step onto the housing ladder with a deposit of as little as £5,000. 

The scheme is open to first-time buyers, and those looking to move up the property ladder. As with all house-buying schemes, affordability and eligibility criteria apply.

With Shared Ownership, your deposit is based on the share you’re buying, not the full market value of the home. Most lenders require a minimum 5% deposit of your share.  

For example, if you were buying a 25% share of a £200,000 property (£50,000), you’d only need a £2,500 deposit. This makes saving for a deposit much more achievable compared to buying on the open market.

Much like other government schemes, Shared Ownership has a list of affordability and eligibility criteria which you’ll need to meet. You could purchase a home through the Shared Ownership scheme if:

• you're aged 18 or over 
• you're a first-time buyer
• you've owned a home before, or are in the process of selling one 
• your household income is less than £80,000 per annum (£90,000 if you’re in London). 

Some Shared Ownership homes require you to have a local connection. So, you may either need to live, work or have a family connection to the local area.

Your buying costs will include:

• a reservation fee 
• a home valuation 
• your deposit 
• any mortgage fees 
• your Solicitors' fees 
• Stamp Duty Land Tax (where applicable). 

When you register interest in a home, we'll be able to go through these costs with you. 

Stamp Duty Land Tax (SDLT) may apply to Shared Ownership homes, but it depends on your situation. You can either pay stamp duty on the full market value of the property at the outset, or just on the share you’re buying.  

Some first-time buyers won’t have to pay stamp duty if their share is under the current threshold, but your solicitor will be able to advise you on the best approach for your purchase. 

You can find out more about SDLT for Shared Ownership on the gov.uk website. 

Yes, it may be possible to buy a Shared Ownership home while receiving certain benefits, as long as you meet the affordability and eligibility criteria. However, lenders will look at the type of benefits you receive when deciding whether to offer you a mortgage. Speaking to a Mortgage Advisor will help you understand your options. 

Yes! But each individual needs to meet the eligibility criteria. 

With Shared Ownership, you have the option to buy more shares in your home if you want to. This is called staircasing. 

The more the shares you own, the less rent you will pay to us. Usually, you can staircase to buy all your home, so you won’t have to pay any more rent. 

The number of shares you can buy in a single purchase depends on whether your home was funded by the Shared Ownership and Affordable Homes Programme 2016 to 2021, or the new Affordable Homes Programme 2021 to 2026. When you find a property for sale that you like, we'll be able to let you know which applies to your home.  

For homes funded by the Shared Ownership and Affordable Homes Programme 2016 to 2021, you can buy shares of 5% or more at any time. 

For homes funded by the Affordable Homes Programme 2021 to 2026, you: 

• can buy shares of 5% or more at any time 
• can buy a 1% share each year for the first 15 years 
• can't buy shares of 2%, 3% or 4%. 

For homes funded by earlier affordable homes programmes, you can buy shares from: 

• 10% or more 
• 25% or more.  

Want to find out more about staircasing? Check out our Staircasing FAQs. 

In most cases you can buy your Shared Ownership home outright through staircasing. Over time, you can purchase additional shares in your home until you own 100% of the property. Once you’ve bought the full share, you’ll no longer need to pay rent. 

We know that sometimes there are changes in your life which may impact your home or mortgage. Always let us know as soon as you can if this happens, as we’ll be able to support you. We have handy guides on all these processes, so head over to our Help & Advice page for more information. 

Changes to your mortgage and lease will incur a fee. For more information, head over to our handy Fee Guide.

Making multiple payments 

Good news! If you’re completing a few transactions with us at the same time – e.g. staircasing and transfer of equity, we’ll halve the cost of the lowest transaction. 

When you decide that you want to sell your home, you’ll just need to let us know. We’ll exclusively market your property for a number of weeks; this is called a ‘nominations period’ and is outlined in your lease.  

Our marketing will include advertising on property websites (such as Share to Buy) and getting photos taken of your home. Check out our Fee Guide and Sellers Guides for more information about this. 

If, after the nominations period we’re unable to sell your home, you have the option to market it with an Estate Agent or property portal. And, we’ll continue to market your home to increase the chances of a quick sale. Once your home is sold, completion dates will be set, and you’ll be able to focus on making your move as smooth as possible. 

However, if you have a 100% share, you’re free to sell the home yourself on the open market.

The rent you pay is based on the share of the home that you don’t own. For example, if you buy a 40% share, you’ll pay rent on the remaining 60%. The rent is set at a percentage of the unsold equity (usually around 2.75%) and is reviewed annually.  

When you find a property you’re interested in, we’ll give you a clear breakdown of the rent and any service charges, so you know exactly what to expect. 

We understand circumstances can change, and sometimes it might be difficult to keep up with your rent payments. If you’re struggling, it’s important to contact us as soon as possible so we can discuss your situation and offer support. We may be able to agree on a payment plan or help you access independent financial advice. 

Missing payments could put your home at risk, so reaching out early gives us the best chance to work with you and find a solution.

Remember, we’re here to help. You don’t need to face financial worries on your own! 

Shared Ownership could be a better option than renting if you want to invest in your future and get on the property ladder. Instead of paying rent with no return, you could be building equity in a the share you own, while paying a reduced rent on the remaining share.

Monthly costs are often lower than renting privately, and over time you can buy more shares in your home, giving you the chance to own it outright. 

Yes! We know that you're going to want to make your house a home and put your own stamp on it. You can paint, decorate and refurbish your home just like any other homeowner. For newbuild homes it's better not to decorate for the first year, as this gives the plaster and timber time to dry out and settle. 

It’s important to ask us before making any home improvements, as it may impact the value of your home. Here's some guidance on what we class as a home improvement: 

• new double glazing  
• new kitchen 
• new bathroom or plumbing  
• installing or replacing central heating. 
• Garden renovations

After you've purchased guide 

Extensions and structural changes to your Shared Ownership home are only allowed with our permission. This is because any changes could affect the value of the property and your lease agreement.  

If you’re thinking about building an extension, you’ll need to apply for consent from us, and you may also need planning permission and building regulations approval. 

We all lose things from time to time. If you need a replacement of your lease, Equity Loan deed or staircasing documents, we can help! For this there will be a fee. Please get in touch with your Leasehold Officer, who'll be happy to help. 

Homes England include a clause in all Shared Ownership leases which restricts sub-letting, so unfortunately, we don't allow our shared owners to do this. As your home was built using public funds, we need to protect these and make sure that our customers aren't commercially gaining from them. 

But the good news is, you're allowed to take in a paying guest or lodger, as long as your Shared Ownership home remains your main and principal property. There's more information on this available on the gov.uk website. 

Let us know that you'd like to take in a guest or lodger by emailing us at hello@abri.co.uk. 

If there's a reason that you need to sub-let your home, we can review requests on a case-by-case basis. In extenuating circumstances, we may agree to a temporary arrangement in line with our Shared Ownership sub-letting procedure. To do this, please get in touch with your Leasehold Officer, who'll be happy to discuss your needs.