Shared Ownership Properties in London

Location
Borough
Barnet
3 projects
Bexley
2 projects
Brent
4 projects
Bromley
2 projects
Camden
1 project
City of London
0 projects
Croydon
6 projects
Ealing
9 projects
Enfield
3 projects
Greenwich
6 projects
Hackney
5 projects
Haringey
3 projects
Harrow
2 projects
Havering
1 project
Hillingdon
2 projects
Hounslow
5 projects
Islington
2 projects
Kensington and Chelsea
0 projects
Kingston upon Thames
0 projects
Lambeth
3 projects
Lewisham
5 projects
Merton
4 projects
Newham
7 projects
Redbridge
1 project
Southwark
3 projects
Sutton
1 project
Tower Hamlets
9 projects
Waltham Forest
7 projects
Wandsworth
2 projects
Westminster
0 projects
Subway
Abbey Wood
1 project
Acton Central
2 projects
Acton Town
0 projects
Aldgate
0 projects
Aldgate East
0 projects
Alperton
1 project
Anerley
0 projects
Angel
1 project
Archway
0 projects
Arnos Grove
1 project
Arsenal
1 project
Baker Street
1 project
Balham
0 projects
Barbican
0 projects
Barking
0 projects
Battersea Park
0 projects
Bayswater
0 projects
Becontree
0 projects
Bermondsey
0 projects
Bexleyheath
0 projects
Blackfriars
0 projects
Bond Street
0 projects
Borough
0 projects
Bow Road
2 projects
Brent Cross
0 projects
Brentford
1 project
Brixton
1 project
Brockley
0 projects
Bromley-by-Bow
2 projects
Brondesbury
1 project
Brondesbury Park
0 projects
Bushey
0 projects
Caledonian Road
0 projects
Caledonian Road & Barnsbury
0 projects
Cambridge Heath
0 projects
Camden Road
0 projects
Camden Town
0 projects
Canada Water
0 projects
Canary Wharf
2 projects
Canning Town
0 projects
Carpenders Park
0 projects
Chancery Lane
0 projects
Charlton
2 projects
Chigwell
0 projects
Chislehurst
0 projects
Chiswick Park
0 projects
Cholsey
0 projects
Clapham Common
0 projects
Clapham Junction
0 projects
Clapham North
0 projects
Clapham South
0 projects
Cockfosters
0 projects
Colindale
0 projects
Colliers Wood
2 projects
Cricklewood
0 projects
Crossharbour
2 projects
Crouch Hill
0 projects
Crystal Palace
0 projects
Dagenham East
0 projects
Dalston Junction
0 projects
Dalston Kingsland
0 projects
Denmark Hill
0 projects
Dollis Hill
0 projects
Ealing Broadway
0 projects
Earlsfield
0 projects
East Acton
0 projects
East Croydon
3 projects
East Finchley
0 projects
East Ham
0 projects
East Putney
0 projects
Edgware Road
0 projects
Elstree & Borehamwood
0 projects
Embankment
0 projects
Farringdon
0 projects
Feltham
1 project
Finchley Central
0 projects
Finsbury Park
1 project
Fleet
0 projects
Forest Gate
0 projects
Forest Hill
0 projects
Gipsy Hill
0 projects
Goodge Street
0 projects
Gordon Hill
0 projects
Gospel Oak
0 projects
Great Portland Street
0 projects
Green Park
0 projects
Greenford
0 projects
Greenwich
1 project
Hackbridge
0 projects
Hackney Central
0 projects
Hackney Downs
0 projects
Hackney Wick
1 project
Hadley Wood
0 projects
Haggerston
2 projects
Hainault
0 projects
Hammersmith
0 projects
Hampstead Heath
0 projects
Hanger Lane
0 projects
Hanwell
0 projects
Harlesden
1 project
Harlow
1 project
Harringay Green Lanes
0 projects
Harrow & Wealdstone
0 projects
Haydons Road
0 projects
Hayes & Harlington
0 projects
Hendon
0 projects
High Barnet
0 projects
Highams Park
0 projects
Highgate
0 projects
Holborn
0 projects
Holland Park
0 projects
Holloway Road
0 projects
Hornsey
0 projects
Hounslow East
1 project
Hounslow West
1 project
Hoxton
2 projects
Hyde Park Corner
0 projects
Imperial Wharf
0 projects
Isleworth
0 projects
Kelvedon
0 projects
Kennington
1 project
Kensal Green
0 projects
Kensington
0 projects
Kenton
0 projects
Kew Bridge
0 projects
Kidbrooke
0 projects
Kilburn High Road
0 projects
Kilburn Park
0 projects
King's Cross
0 projects
Kingston
0 projects
Knightsbridge
0 projects
Ladbroke Grove
0 projects
Lambeth North
0 projects
Leatherhead
0 projects
Lewisham
1 project
Leyton
0 projects
Liverpool Street
0 projects
London Bridge
0 projects
London Fields
0 projects
Loughborough Junction
0 projects
Loughton
0 projects
Lower Sydenham
0 projects
Maida Vale
0 projects
Manor House
1 project
Marble Arch
0 projects
Maze Hill
1 project
Mile End
0 projects
Mill Hill East
0 projects
Mornington Crescent
0 projects
Neasden
0 projects
New Cross
0 projects
New Cross Gate
0 projects
New Eltham
0 projects
New Malden
0 projects
Nine Elms
1 project
North Acton
1 project
North Greenwich
0 projects
Northolt
0 projects
Norwood Junction
0 projects
Notting Hill Gate
0 projects
Old Street
1 project
Oval
0 projects
Oxford Circus
0 projects
Oxted
0 projects
Paddington
0 projects
Park Royal
0 projects
Pimlico
0 projects
Plumstead
0 projects
Ponders End
0 projects
Queen's Park
0 projects
Queensbury
0 projects
Queensway
0 projects
Raynes Park
0 projects
Reading
0 projects
Rectory Road
0 projects
Regent's Park
0 projects
Royal Victoria
0 projects
Sanderstead
0 projects
Selhurst
0 projects
Shadwell
0 projects
Shoreditch High Street
0 projects
Sloane Square
0 projects
South Acton
0 projects
South Bermondsey
0 projects
South Croydon
1 project
South Harrow
0 projects
South Kensington
0 projects
South Wimbledon
0 projects
Southall
4 projects
Southgate
0 projects
Southwark
0 projects
St Johns
1 project
St. James's Park
0 projects
Staines
0 projects
Stamford Brook
0 projects
Stamford Hill
1 project
Stepney Green
1 project
Stockwell
1 project
Stonebridge Park
0 projects
Stratford
0 projects
Surbiton
0 projects
Surrey Quays
0 projects
Sydenham
0 projects
Tattenham Corner
0 projects
Tooting Bec
0 projects
Tower Hill
0 projects
Turnham Green
0 projects
Turnpike Lane
1 project
Twickenham
0 projects
Upper Holloway
0 projects
Upton Park
0 projects
Uxbridge
1 project
Vauxhall
1 project
Victoria
0 projects
Waddon
0 projects
Wandsworth Common
0 projects
Wandsworth Town
2 projects
Wanstead Park
0 projects
Waterloo
0 projects
Wembley Central
0 projects
Wembley Park
0 projects
West Brompton
1 project
West Croydon
2 projects
West Drayton
1 project
West Ealing
2 projects
West Finchley
0 projects
West Norwood
0 projects
Westbourne Park
0 projects
Westferry
0 projects
Westminster
0 projects
White Hart Lane
0 projects
Whitechapel
1 project
Whyteleafe South
0 projects
Wimbledon
1 project
Wimbledon Park
0 projects
Wood Lane
0 projects
Wood Street
3 projects
Woodford
0 projects
Postcode
BR7
0 projects
CM18
0 projects
CR0
4 projects
CR2
0 projects
CR6
1 project
CR9
7 projects
DA11
0 projects
E1
2 projects
E10
1 project
E11
0 projects
E13
0 projects
E14
4 projects
E15
1 project
E16
4 projects
E17
6 projects
E1W
0 projects
E2
0 projects
E20
0 projects
E3
3 projects
E4
0 projects
E5
1 project
E6
2 projects
E7
0 projects
E8
0 projects
E9
0 projects
EC1
1 project
EC2A
0 projects
EC2M
0 projects
EC2N
0 projects
EC2R
0 projects
EC2V
0 projects
EC2Y
0 projects
EN2
0 projects
EN3
0 projects
EN4
1 project
EN5
0 projects
HA0
1 project
HA1
1 project
HA9
1 project
IG10
0 projects
IG11
1 project
IG7
0 projects
KT1
0 projects
KT12
1 project
KT20
0 projects
N1
2 projects
N10
1 project
N11
1 project
N12
0 projects
N13
0 projects
N14
0 projects
N16
0 projects
N17
1 project
N19
0 projects
N1C
0 projects
N2
0 projects
N20
1 project
N21
1 project
N22
0 projects
N3
0 projects
N4
1 project
N6
0 projects
N7
1 project
N8
1 project
NW1
0 projects
NW10
3 projects
NW2
0 projects
NW3
0 projects
NW5
0 projects
NW6
1 project
NW7
2 projects
NW8
0 projects
NW9
0 projects
RH1
1 project
RH8
0 projects
RM13
1 project
RM7
0 projects
SE1
1 project
SE10
2 projects
SE11
0 projects
SE13
2 projects
SE14
0 projects
SE15
1 project
SE16
0 projects
SE17
1 project
SE18
4 projects
SE19
1 project
SE2
1 project
SE20
0 projects
SE23
0 projects
SE24
0 projects
SE25
0 projects
SE26
1 project
SE27
0 projects
SE28
0 projects
SE3
0 projects
SE4
0 projects
SE5
1 project
SE6
0 projects
SE7
2 projects
SE8
1 project
SE9
0 projects
SM6
1 project
SW1
0 projects
SW10
0 projects
SW11
0 projects
SW12
0 projects
SW15
0 projects
SW17
1 project
SW18
2 projects
SW19
3 projects
SW1H
0 projects
SW1P
0 projects
SW1W
0 projects
SW2
0 projects
SW20
0 projects
SW3
0 projects
SW4
1 project
SW6
1 project
SW7
0 projects
SW8
1 project
SW9
1 project
TW1
0 projects
TW14
1 project
TW18
0 projects
TW3
2 projects
TW7
0 projects
TW8
1 project
UB2
1 project
UB3
0 projects
UB5
0 projects
UB7
1 project
W1
0 projects
W10
0 projects
W11
0 projects
W12
1 project
W13
2 projects
W14
1 project
W1H
0 projects
W1U
0 projects
W2
0 projects
W3
2 projects
W4
0 projects
W5
0 projects
W6
0 projects
W7
0 projects
W8
0 projects
W9
0 projects
WC2A
0 projects
WC2B
0 projects
WC2E
0 projects
WC2H
0 projects
WC2N
0 projects
WC2R
0 projects
WD17
0 projects
WD19
0 projects
WD6
1 project
WD7
0 projects
Price / ft2
Price / ft2
395 £
1 433 £
395 £ 1 433 £
Bedrooms
Bedrooms
Studios
6 projects
1BR
61 projects
2BR
82 projects
3BR
28 projects
4+ BR
3 projects
Houses
9 developments
Сompletion of construction
Сompletion of construction
Finished
68 projects
Delivery in 2022
19 projects
Delivery in 2024+
29 projects
Shared Ownership
Buying Schemes
Help to Buy
98 projects
Shared Ownership
104 projects
Retirement Homes
23 projects
104 developments

Shared Ownership in London

Shared Ownership is a government home-buying scheme. It provides the option to buy a share of the property from a housing organization. It is a chance for buyers who do not own real estate, to buy a share of a home in a new or resale development. With Shared Ownership scheme, buyers pay the mortgage only for their share of the home. They pay the rest of the lease to the housing association. Thus, a mortgage is required for a significantly lower amount, and the amount for making a deposit is also much lower than when making a direct purchase.

 Shared Ownership available on properties until 2023 Shared Ownership available on properties from 2022
Minimum deposit5% of the share in the property5% of the share in the property
Minimum share of property for sale25%10%
Minimum ‘Staircasing’10% share annually1% share annually, with reduced fees
Who pays for repairsThe buyerThe buyer receive support from his landowner for necessary repairs for 10 years
Exclusivity period for landowner to sell8 weeks4 to 8 weeks

How does Shared Ownership London work?

To put it simply:

  • Buyers decide for themselves how much of the property they can afford. The minimum share is 25% while the maximum share is 75%, depending on the developer. In some cases, in the staircasing process, you can buy out 100%.
  • Next, buyers pay a deposit, which must be at least 5% of the value of their share (not the full purchase price!).
  • To cover the rest, you need to take out a mortgage.
  • Monthly costs: you pay rent on the part you do not own + mortgage payments.

*If desired, buyers can increase their share in the home. This process is called staircasing. Typically, this process can continue until the tenant owns 75% of the property. It is very rarely 100%. However, not all housing associations allow this, so if you plan to do this, you must first check this information with the organization.

What are the eligibility criteria for Shared Ownership London?

London Shared Ownership gives many people the chance to become the owner of their desired home. But before choosing this scheme, you need to make sure that you match the established criteria. To take advantage of the 'part buy, part rent' scheme, the buyer needs to ensure that they comply with the following rules.

  • Be at least 18 years old.
  • Annual household income must be less than £90,000 (in London).
  • Annual household income must be less than £80,000 (outside of London).
  • Not allowed to own another home. If you already own another property (in the UK or abroad), you must be in the process of selling it.
  • The buyer should not have the money to buy a home that meets his needs on the open market.
  • To purchase one of the Shared Ownership homes, you must prove the absence of mortgage or rent arrears.
  • Able to demonstrate a good credit history and show that you are able to afford the regular payments and costs involved in buying a home.
  • It is preferable that the purchaser has some savings. He should be able to procure at least £4,000 to cover the costs of buying a home.

*Eligibility criteria may vary per housing association and therefore you should always check the exact criteria with the developer or housing association responsible for the exploitation of the property.

Can I increase my share of my Shared Ownership property to 100%?

Each buyer that participates in Shared Ownership London can gradually or immediately increase their share of home ownership. As mentioned earlier, this process is called staircasing. If you are going to take this opportunity, before concluding a shared ownership contract, check with the housing organization for the specific staircasing conditions for the house you are about to buy. Usually, conditions stipulate that the process will take place in at least 10% tranches. But in some cases, buyers can immediately get the piece of ownership that they want. The cost of the additional share depends on the price of the house at the time of staircasing. To be able to take possession of 100% of the house immediately, check your lease. Some housing associations limit the proportion that a buyer can acquire as a result of staircasing, for example, to 75%. Always check the conditions for your property directly with the developer.

How does staircasing work?

More recently, during staircasing, the buyer can purchase 1% of the house at a time as an additional share. At the same time, every time you make a purchase, you need to pay attention to the current market value of the house. To do this, you need to contact a certified appraiser. He or she will advise the housing association how much should be charged for the additional share in Shared Ownership houses that the buyer wishes to acquire.

At the same time, one should not forget about other fees. Even though the additional part is already part of the existing home, the buyer needs to restructure the mortgage or pay stamp duty. The medium amount of fees during the staircasing process is around £2,000. But it can change depending on individual facts.

Shared Ownership London pros and cons

Shared Ownership houses for sale is an excellent opportunity to purchase a property that you cannot pay in full right away. However, for this attractive scheme to work for you, you need to become familiar with all the nuances. What kind of Shared Ownership pros and cons can a potential buyer expect?

ProsCons
+ Small deposit. Minimum 5% of the share in the property.- Unstable cost. Although rents are initially low, they can rise over time.
+ Staircasing. You can always raise your share of home ownership.- Additional fee. You will also have to pay for land and property maintenance.
+ Easy sale. You can sell your piece of the house whenever you want.- Repair Restrictions. To improve your home, you need a permit from the housing association.
+ Your choice. You decide for yourself how much of your home you want to own.- Prohibition of sub-rent. The Housing Association may place restrictions on your renting out your property.

Popular locations for Shared Ownership

FAQ

  • Does shared ownership mean I have to share with someone else?

You do not have to share your home with anyone unless you want to. Buying a home with a partner or friend is not Shared Ownership. Shared Ownership means that the housing association owns the remaining share in the home.

  • I already own a home, can I buy with Shared Ownership?

No, as long as the house is in your ownership, you will not be able to use Shared Ownership. But unlike other buying schemes, you can buy one of the Shared Ownership properties if you can prove that your previous home is in the process of being sold.

  • Do I need to pay Stamp Duty on a Shared Ownership home?

Yes, but when getting a Shared Ownership property as a first-time buyer, you can pay Stamp Duty in full immediately. This way, although the tax may seem high depending on the price of the property, you do not have to pay every year.

  • How much of the home will I own?

The special thing about Shared Ownership is that you decide how much you can afford. As a rule, at the beginning, it is about 50%. You can then acquire additional stakes in the staircasing process.

  • What size share can I purchase in a Shared Ownership property?

Most commonly, the minimum share is 25% while the maximum share is 75%. In some cases, in the staircasing process, you can buy out 100% of the property, but this depends on the conditions of the housing association.

  • Is Shared Ownership better than buying?

Shared Ownership has its advantages and disadvantages, but in some cases, it can be more profitable than buying. This scheme allows you to purchase housing that you might not be able to afford immediately. If the buyer already owns a property, they can use the scheme if they are able to prove that the previous home is in the process of being sold. A deposit for a home purchase under the Shared Ownership scheme usually is much less than a deposit for a mortgage.

  • Who can get a Shared Ownership mortgage?

The basic conditions for obtaining a Shared Ownership mortgage require the buyer to be at least 18 years old, a first-time buyer or one whose property is in the process of being sold. It is also vital to have a good credit history.

  • Do you still need a deposit for Shared Ownership?

Yes. A deposit for a Shared Ownership mortgage is typically between 5% and 10% of the value of the share you're buying – not the full purchase price.

  • Can you ever own 100% of Shared Ownership?

You can get 100% of the Shared Ownership home using staircasing. In this case, you can purchase additional parts gradually or immediately. But before buying a home, check with the Housing Association for staircasing conditions, as some organizations place restrictions on total ownership of the real estate.