Shared Ownership

Shared Ownership makes it possible to own your own home. It offers affordable housing, helping you to take those first steps onto the property ladder.

Under a Shared Ownership scheme you part-own and part-rent your home.

A Shared Ownership property allows you to become an owner-occupier.

This gives you the long-term security and stability of home ownership at a price that’s still affordable.

Advantages of shared ownership include:

  • you'll own part of your home, rather than paying rent with no return
  • your monthly mortgage and rent can work out cheaper than buying outright, and sometimes not much more than renting
  • you can buy more shares in your home or sell it if you want to
  • you only buy what you can afford so you don't overstretch yourself financially

The minimum share you can purchase is 25 per cent and the maximum is 75 per cent.

You will pay a mortgage on the part you own and rent on the part you don’t own. As your income rises, you can increase the share you own until you eventually own 100 per cent and no longer pay any rent.

For further information on shared ownership please visit the Mayor of London website.

Available properties in Havering

Use the Share to Buy website to find properties in Havering.

Go to Share to Buy

Eligibility Criteria

The allocation of a Shared Ownership property is subject to availability and based on the housing needs of the applicant and subject to meeting the London Borough of Havering allocation criteria policy (this may be subject to change).

  • maximum household income £90,000
  • must be unable to buy a property to meet their needs on the open market
  • Be able to demonstrate that they have the income to keep up payments
  • have passed our financial assessment

Priority will be given to Armed Forces Personnel (serving military personnel and former members of the British Armed Forces), discharged within the last 2 years.

If you would like an application form or wish to discuss with us whether Shared Ownership could be an option for you, please contact us on 01708 433 015.

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