Shared ownership, also known as part rent part buy, is a way to help people get onto the property ladder. You buy a percentage of a house and pay rent to SHAL for the remaining share. This means smaller deposits, smaller mortgage, and the rent you pay on the remaining share is charged at a discounted rate.

You can buy more shares as and when you can afford to, usually between 25%-75% and eventually up to 100%, in most cases, you can own your own home outright.

You will need to meet certain criteria in order to be eligible for shared ownership. You will need to confirm that you can raise enough money (normally with a mortgage) to buy the share that you own.

Although you will own a share of your home, you will also be a leaseholder. This means that you sign a lease with SHAL that sets out the rights and responsibilities of each party and details what you can and can’t do.