Home ownership schemes

Assistance for those looking to purchase or rent low-cost accommodation

There are various schemes available to assist those who wish to purchase or rent accommodation. 

Shared Ownership allows suitable applicants to purchase a share of a property with the remaining share retained by a housing association. You can purchase between 25% to 75% of a property and will pay a low rent to the housing association landlord for the remaining share. Owners can increase your share over time if this is affordable.

If you would like to be considered for shared ownership, you will need to contact the housing associations with homes available.

If you are not using existing equity to purchase a full share, it would be advisable to firstly seek financial guidance to determine whether home ownership is affordable to you.

Rent to Buy schemes allow applicants to rent a housing association property on an assured shorthold tenancy at a reduced rental charge of 80% of the market rent level. Throughout the duration of the tenancy, the tenant is advised to save the 20% rental reduction, preferably in a Help to Buy ISA. In doing so, after 3 to 5 years, the tenant should have sufficient funds saved to use as a deposit to purchase a share of the property. As with shared ownership schemes, you can increase your share over time if this is affordable.