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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% (sometimes lower).

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 (in most cases).
  • You are able to take the first step onto the property ladder.

Can I apply?

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

  • You are a first time buyer.                                         
  • A housing association / social housing tenant.
  • On the WDH Homesearch scheme or another housing waiting list.
  • In housing need due to a relationship breakdown.

How do I apply?

If you are interested in buying a home through the shared ownership scheme, visit the Help to Buy 'Apply' page, or if you need further information email our Sales and Leasehold team at homebuy@wdh.co.uk 

Help to Buy - North East, Yorkshire and Humberside, will then complete an initial criteria assessment before passing details of your approved application form to us to assess your financial eligibility (for this to happen please make sure you select WDH as the Housing Association / Developer). Once these assessments are completed we will contact you either for further information or to offer you a property viewing.

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 and the share you are purchasing.

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 sublet 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 and your solicitor will also provide you with a copy of the lease.

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 Leasehold team at homebuy@wdh.co.uk or phone OneCALL on 0345 8 507 507.

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