Shared ownership and First Home Scheme

Shared ownership and Help to Buy schemes aim to help residents to buy property.

What is shared ownership?

Shared ownership allows buyers to part buy and part rent a property. Buyers can purchase between 25% and 75% of the property and are able to gradually increase the percentage share that they own.

The rent and service charges are set by the housing association that owns the property. Housing associations often give priority to people with a live/work connection to the area.

Find out more about local shared ownership schemes on the Shared Ownership Website.

What is the First Home Scheme

If you’re a first-time buyer, you may be able to buy a home for 30% to 50% less than its market value. The home must be your only or main residence.

This offer is called the First Homes scheme.

The home can be:

• a new home built by a developer
• a home you buy through an estate agent, which someone else bought before through the scheme

Find out more about the First Homes Scheme.