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Shared ownership

Registered Providers shared ownership schemes

A Housing Association or Registered Social Landlord is a non–profit organisation responsible for providing social housing. The name ‘Housing Association’ and ‘Registered Social Landlord’ has been replaced with the name Registered Provider (RP). Registered providers are regulated by the Homes and Communities Agency (HCA).  Information about shared ownership schemes is available on Share to Buy website.

Registered providers are the main providers in developing shared ownership and intermediate rented properties. In London, accessing shared ownership is managed by First Steps which is a free government service for first time buyers looking to buy a home cheaper than on the open market.

Through these schemes you buy a share of a property and pay rent on the remaining share you do not own. The size of the share you purchase will depend on your income and savings. Normally applicants buy a share ranging from 25-60%. Gradually, you can buy further shares and eventually own your home outright, which is called “staircasing”.

Priority for these schemes will normally be given to:

  • existing public sector tenants or
  • those on local authority or registered providers waiting lists that have been nominated by their local council as being in housing need.
  • Key workers
  • First time buyers

Generally, you must meet the following criteria to be eligible:

  • Your household income is less than £66,000 a year, or less than £80,000 a year if you are buying a property with three or more bedrooms.
  • You are a first-time buyer, or a homeowner who needs to move because of a change in your family's circumstances (in which case you must sell your existing property).

To apply you will need to register your details on First Steps.



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