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Shared ownership

You can buy a home through the shared ownership scheme if you cannot afford all of the deposit and mortgage payments for a home that meets your needs. You buy a share of the property and pay rent to a landlord on the rest.

When you buy a home through shared ownership, you:

  • buy a share between 10% and 75% of the home’s full market value
  • pay rent to the landlord for the share they own
  • usually pay monthly ground rent and service charges, for example towards the maintenance of communal areas

Discounted market housing

Newly built Discounted Market Home Ownership Housing is sold by developers in the same way a regular home is sold after being built, however there are some criteria that you must meet to be eligible to purchase a discounted house.

To help you find Discounted Market Home Ownership Housing you should register on the Help to Buy South website. Once Registered on Help to Buy South, you will be able to search for Discounted Market Home Ownership Housing across the South of England.

Forces Help to Buy scheme

Since 1st January 2023, the Forces Help to Buy Scheme became an enduring policy, ensuring its availability to all service personnel now and in the future. The scheme enables service personnel to borrow up to 50% of their salary, up to a maximum of £25,000 interest free towards the purchase of a property. More information on the Forces Help to Buy scheme can be found on the GOV.UK website.

Own Your Home website

The Government have created a website which lists a range of schemes to make buying a home more affordable. The Own Your Home website also includes a tool so that you can check which scheme is right for your circumstances.

Buying your council or housing association property

There are also schemes for council tenants and housing association tenants to buy their own homes. Right to Buy allows most council tenants to buy their council home at a discount. Use the eligibility checker on the Own Your Home website to find out if you can apply.

You might be able to buy your rented housing association home at a discount through the Right to Acquire scheme. You and your landlord must meet the eligibility requirements to apply.

Last reviewed: September 5, 2023 by William

Next review due: March 5, 2024

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