Shared Ownership: Your Questions Answered:
A straight‑talking guide for Londoners who want a home they love in the city they love. Shared Ownership is about opening doors, not gatekeeping them.
Q: What actually is Shared Ownership?
Shared Ownership is a way to make buying a home more accessible. Instead of buying 100% of a property, you buy a percentage and pay a mortgage on that share. You then pay a subsidised rent on the remaining share that we still own.
Because you’re buying a smaller share, your deposit and mortgage are smaller, making home ownership more achievable for more Londoners.
Q: Am I eligible for Shared Ownership in London?
Nearly half of Londoners are eligible — most just don’t realise it. Eligibility varies by borough, and some local authorities prioritise people who already live or work in the area.
When you apply, you can tell us which borough you prefer, and we’ll explain any criteria you need to meet.
Q: Does Shared Ownership mean I have to share my home with someone?
Not at all. Shared Ownership does not mean shared occupancy. You own your share, we own ours, but the home is entirely yours to live in. Decorate it, live alone, buy with a partner or friend — it’s your space, your rules.
Q: Can I buy more of my home later?
Yes, this is called staircasing. If you want to increase your share in the future, we’ll help you understand what you can comfortably afford and guide you through the process.
Q: What types of Shared Ownership homes do you offer?
We offer a wide range of homes across London, different sizes, styles, and neighbourhoods, so you can find something that fits your lifestyle. You can explore all our Shared Ownership developments on our website.
Q: Is Shared Ownership cheaper than renting?
In most cases, buying a Shared Ownership home costs about the same as renting a similar home privately. The difference? You get the rights of an owner‑occupier — no landlord dictating how you live, and the freedom to make the space your own.
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Q: What monthly payments will I have with Shared Ownership?
You’ll typically have three monthly costs:
- Mortgage – paid to your mortgage lender on the share you own.
- Rent – paid to us on the share we own.
- Service charge – covers communal maintenance and services.
Q: How does the rent work?
Rent is paid monthly by direct debit. Each year on 1 April, your rent increases by a set amount agreed in your lease. We’ll let you know the new amount every February or March so you have plenty of notice.
Q. What does the service charge cover?
Service charges typically include:
- Cleaning and maintenance of communal areas
- Communal lighting and grounds care
- Lift servicing and entry systems
- Buildings insurance
- Management fees and reserve fund contributions
Q: What is the reserve fund and why do I pay into it?
The reserve fund is a savings pot for major works or cyclical decorations. It helps prevent large one‑off bills for leaseholders when big repairs are needed.
If the fund doesn’t fully cover a project, any shortfall is recharged to leaseholders according to the terms of the lease.
Q: Are there any rules I should know before buying a Shared Ownership home?
Yes — and we’ll explain everything clearly when you apply. Key points include:
- You can’t sublet your home.
- You’ll need permission for structural changes.
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