Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
Affordable homes for everyone
Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
Anyone buying a shared ownership property in England and Wales must register with the local HomeBuy agent as well as the Housing Association selling the property. Local HomeBuy Agents work with local authorities and other housing associations to provide HomeBuy options to people in housing need. A list of all of the current HomeBuy agents and the areas they cover is listed below.
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Aldwyck Region: East of England Zones: Hertfordshire |
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Catalyst Region: South East Zones: Berkshire, Oxfordshire, Buckinghamshire & Milton Keynes, Surrey |
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East Midlands Home Buy Region: East Midlands Zones: Derbyshire, Leicestershire, Lincolnshire & Rutland, Northamptonshire, Nottinghamshire |
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Fabrick Region: North East Zones: Tees Valley and County Durham |
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London and Quadrant Region: London Zones: South West London, South East London |
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Manchester Methodist Housing Group Region: North West, Yorkshire and the Humber Zones: Greater Manchester, Lancashire, South Yorkshire |
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Metropolitan Housing Partnership Region: London Zones: North London, West London, East London |
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Moat Region: East of England, South East Zones: Essex, Kent, Sussex |
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NomadE5 Housing Association Ltd Region: North East Zones: Tyne and Wear and Northumberland |
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Orbit Region: West Midlands, East of England Zones: Bedfordshire & Cambridgeshire (including Fenland and Peterborough, Forest Heath and St Edmundsbury), Birmingham, Dudley, Walsall, Wolverhampton, Sandwell and Solihull, Coventry and Warwickshire, Staffordshire (including Stoke) and Shropshire (including Telford), Hereford and Worcestershire Norfolk & Suffolk (excluding Forest Heath and St Edmundsbury) |
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Plus Housing Group Region: North West Zones: Cheshire, Merseyside |
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Riverside Region: North West Zones: Cumbria |
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Swaythling Region: South East Zones: Hampshire |
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Sovereign & West Country Housing Region: South West Zones: South East: Bournemouth, Pool, HMA, Weyland and Dorchester HMA, Salisbury HMA, South Somerset and West Dorset HMA; North: West of England HMA, Swindon HMA, Gloucestershire and Cheltenham HMA; Peninsula: West Cornwall HMA, Plymouth HMA, Polycentric Devon and Cornwall, Torbay HMA, Exeter HMA and Taunton HMA |
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Yorkshire Housing Group Region: Yorkshire and the Humber Zones: North Yorkshire and Humberside, West Yorkshire |
Need to know more about affordable housing? Here is a list of frequently asked questions.
Shared ownership is a great way for all kinds of people to afford their own, new home at a fraction of the price.
Shared ownership is also known as part buy, part rent because shared owners buy a share in their home and pay a reduced rent on the rest. Gradually you may want to buy further shares and eventually own your home outright.
Shared ownership is open to a wide range of people who would like to get on the housing ladder. It is not restricted to key workers, low incomes or first time buyers.
The main criteria to become eligible for a shared ownership property are:
The scheme allows you to purchase a share of a property and is usually funded by a mortgage.
The size of the share that you can buy is between 12.5% and 75% of the value of the property, dependent upon individual circumstances.
Shared owners pay a monthly rent on the remaining share that has not been purchased.
Yes - up to four people can become joint owners but all joint applicants must individually and jointly meet the eligibility criteria.
New or renovated properties are available - from one bedroom apartments to five bedroom family homes - there is a property for everybody.
SmartShare is the first national property website that is dedicated to affordable homes. We have thousands of properties available throughout England and Wales from all the leading Housing Associations.
The initial costs of a shared ownership home are as follows:
What are the running costs?
Whether you buy a house or a flat under shared ownership terms, you will be granted a lease usually for 99 years. It will entitle you to live in your home as an owner-occupier. It will also entitle you to buy further shares in the property and sets out how you can do this. It also states how you can sell your property.
Other points covered in the lease set out your responsibility for repair and payment of rent and service charge. Although you may not have bought the property outright, you will have the normal rights and responsibility of a full owner-occupier.
If you wish to improve your home or make structural alterations to it, you must write to the shared ownership organisation requesting written agreement to what you want to do.
The mortgage contract is between you and your building society/bank. If you begin to have financial problems which may mean you cannot pay your mortgage, you should let them know as soon as possible. If you cannot agree on a solution, there is a risk that they will take possession of your home and sell it. You would be entitled to your share of the money received, after all your debts have been paid.
Under the lease you will be obliged to pay the rent and service charge. If you find you have financial problems, get in touch with the shared ownership organisation to see if they can advise you.
In most cases, you may sell at any time but you must write to the shared ownership organisation informing them that you want to move. You can either sell the part that you own or you can buy the remaining share and then sell the property outright.
Remember, you will benefit from any increase in the value of the property according to the share you own, but you should be aware that you may be affected by any falls in value.
Step 1 - Applying to buy
Step 2 - The response
Step 3 - Arranging a mortgage
Step 4 - Purchasing the home
Step 5 - Buying further shares in the home
The share of the property you can buy varies from scheme to scheme. Most schemes start from 25% however sometimes the share can be as little as 12.5%.
One of the great advantages of shared ownership is that you can increase the amount you own when you want to. This gives you the flexibility to own more when you feel financial able to do so. It also gives you the benefit of buying a greater share at times when property values are low. This will mean that when values increase your share could be worth a lot more.
You can also own the property outright if you want to, the choice is yours.
Shared equity is different to shared ownership. With a shared equity scheme you effectively have two mortgages on the property. The second mortgage has different terms and often incorporates a reduced interest rate or payment holiday for a defined period. Ultimately however you will have to purchase 100% of the property.
Rent to buy is for people who could qualify to buy a shared ownership property but can not afford the deposit for the mortgage. In these circumstances you can rent the property, normally for up to three years, at approximately 80% of the market rental value. You can then save the 20% discount you are getting to build up a deposit for your mortgage. Once you have enough money put aside you can then purchase the property on a shared ownership basis. Sometimes people call this scheme "try before you buy".
Please be aware that whilst we immediately forward your request to the relevant Housing Association, some Housing Associations take longer to respond to viewing requests than others. They may also want to verify that you are eligible for a scheme before arranging a viewing. If you have not heard back following submitting a viewing request via our website you can always submit another one.