Shared Ownership is a scheme designed to help people who want to buy a home of their own, but who can't afford the cost of buying the whole property outright.
Under Shared Ownership, buyers purchase a proportion of their home and pay rent to Golding Homes for the remaining share. Service charges will also be payable on the property. In the future, should you be able to afford to, you can purchase further shares in the property. This is called ‘staircasing’ and, in most cases, you can purchase 100% of the property. At this point you'll no longer pay rent.
It's a great solution if:
- you’re a first-time buyer
- you used to own a home, but can't afford to buy one now
- you own a home and want to move but can't afford a new home suitable for your needs
- you’re forming a new household - for example, after a relationship breakdown
- you’re an existing shared owner and want to move