Shared Ownership - The Absolute Truth 2016 | Page 3

So, what is shared
ownership?

Shared ownership is when you buy a
percentage of a property (from 25% to 75%)
and you pay a rent on the percentage that
you don’t own. This rent is normally 2.75% of
the value of the percentage you don’t own.
Shared ownership isn’t about sharing
with people or buying with your friends!
You just own a percentage of the property,
but you get to live there until you decide you
want to move. Importantly, you have the
rights and obligations of a home owner.
The Government has recently
changed the criteria, making
it easier for more people to
access shared ownership.
From 1st April 2016, to be
eligible for a shared ownership
property you just need to earn
below £90,000 in London and
£80,000 outside of London,
and you do not have to be a
first time buyer.

To buy 40%
of a £350,000
home you
need to have
a household
income of
£48,000.

Shared Ownership: The Absolute Truth

First of all, shared ownership is quite
simple. The problem is it isn’t always
explained clearly.

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