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What is Shared Ownership?

Shared Ownership scheme, how to apply, deposits and mortgages, shares and selling.

Shared Ownership is a scheme for people who cannot afford to buy a home on the open market.  You buy a share of the property and pay an affordable rent on the remainder with initial shares available from 50% up to 75%.

Details of properties available to purchase on the Shared Ownership scheme can be found by visiting the Shared Ownership pages of our website or on the Help to buy website.

• Monthly repayments could be less than renting privately.
• The deposit required is smaller as you are only buying a share of the property.
• You can purchase further shares in the property until you own it outright.
• You are able to take the first step onto the property ladder.
• You have an opportunity to own a new build property.

Can I apply?

You have to meet a certain criteria to apply for the shared ownership scheme.

• A first time buyer.                                            
• A social or private housing tenant.
• A member of the WDH Homesearch Scheme.
• On a housing waiting list.

How do I apply?

If you are interested in buying a home through the shared ownership scheme,  visit the Help to buy website or phone 0113 825 6888 to ask for an application form.

When you receive a letter of approval, contact our Sales and Leaseholder Officer on 01977 724428 to register your interest.

Where can I get a mortgage?

WDH doesn’t organise mortgages, but we can provide a list of mortgage lenders who deal with shared ownership applications.

How much is the deposit?

The minimum deposit needed for a property on the shared ownership scheme varies depending on which mortgage lender you use.

Can I buy more shares in the property later?

You can buy further shares in your property at any time. The procedure will be given to you at the initial completion of the sale. Each time you plan to buy a further share, you will have to pay valuation fees, solicitors’ fees and administration fees.

What happens when I want to sell the property?

You must inform WDH in writing that you wish to sell and allow us first refusal to buy your share, or nominate someone on our waiting list.  After that you are then able to sell your share on the open market. 

Can I rent the property to someone else?

If you are on the Shared Ownership scheme, you must occupy the property. You cannot let the property to anyone else.

A copy of the procedures for shared ownership will be given to you at the initial completion of the sale.

If you would like more information please visit our Shared Ownership pages or the Government website pages.  If you have any queries contact our Sales and Leaseholder Officer on 01977 724428.

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