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.
You could buy a home through Shared Ownership in England if your household earns £80,000 a year or less (or £90,000 a year or less in London). Check to see if you are eligible by visiting Gov.uk website.
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, if you can afford to do so, 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 but service charges may still be applicable.
Shared Ownership is 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
If you already own a home, your property must be sold subject to contract. If your property has not yet reached this stage, you will not be eligible to proceed with a Shared Ownership application.
If you’re interested in purchasing one of our Shared Ownership homes, please review the documents on our Policies and Process page for helpful information about our Shared Ownership process.
Further Information
Buying a new Shared Ownership home is a little different to buying a house on the open market. To find out more about the process, each stage and areas to consider, we recommend reading our Shared Ownership Journey . This gives information on each step and guides you through the process from application to ‘moving in’ stage. We’ve also got a Frequently Asked Questions page which you may find helpful.
To apply for one of our homes please visit the development or plot you’re interested in and use the Register your Interest button on the page. Your details will be sent to our Sales Agent, who manage the process on our behalf. If the development has launched they’ll send you an application pack to complete. If the development hasn’t yet launched, then your details will be kept on file, and a launch email sent to you once marketing commences. The Sales Agents contact details are listed under each development.
Each property is different so for pricing and more details we recommend viewing individual plots under each development.
Properties are sold off plan so are released before they are built. We’re unable to offer viewings until the properties are under offer and the build is near completion, as it’s a working building site.
When you purchase a Shared Ownership home, where applicable, you’ll pay a Service Charge to us for the services you receive to your home. For information about these and how they’re calculated please read our Service Charge Booklet.
Read our Shared Ownership Admin Charges and Fees Guide to see what shared ownership services we offer and the charges associated with them.
As a Shared Ownership customer you’re entitled to buy extra shares in your home to increase the equity you own in your property. This process is called staircasing. The more shares in your home you own, the less rent you’ll pay. To find out more visit our Staircasing page or contact us at propertysales@goldinghomes.org.uk
If you’re looking to sell your shared ownership home please visit our Selling a Shared Ownership Home page.
If you’d like to go ahead and sell your home please get in touch with us at property.sales@goldinghomes.org.uk