Shared ownership is a form of low cost home ownership and offers a route into owner occupation for those who would not normally be able to afford their own home outright

Shared ownership overview

• the council has an interest in a number of shared ownership properties, most of which were originally built by the Development Corporation. The majority of the properties are houses but there are a number of flats and bungalows.
• by buying a share in the property, the purchaser may pay a mortgage on the purchased share and will pay a rent on the unsold share of the property.
• as part of your decision to buy your home, you need to consider the charges we make towards the upkeep of the local estate or block you live in.
• a shared owner may buy more shares in their property, which is called staircasing, and eventually can own their home outright.
• shared owners are bound by the conditions of their lease.