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Buying Through

Shared Ownership

A Helping Hand

Shared Ownership

If you can’t afford to buy the home you want outright, Shared Ownership could be the perfect solution for you. A Government Help To Buy Scheme, it’s designed to give you a helping hand towards owning your own home. It lets you purchase a share of your chosen house or apartment. You can put in between 25% and 75% of the value of the home. You then pay rent on the remaining portion.

For example, if the home you’re interested in costs £180,000 to purchase outright, a 50% share would cost you £90,000. Your monthly expenses would then be a combination of your mortgage payments for the £90,000 share you own and rent on the remaining share that you don’t own.

Shared Ownership homes are popular because they offer a simple way to lower the upfront cost of buying a house. By choosing an arrangement like this, you get to own a percentage of your home, which is yours to keep or to sell if you take the decision to move.

These agreements also allow you to buy more shares if and when you can afford to in the future. This means you can work towards complete ownership of your home.

The scheme is available to working people who can’t afford to buy outright and who earn less than £80,000 a year. It’s mainly targeted at first-time buyers, but you may also be eligible if you don’t currently own your own home and you want to get back onto the housing ladder.


Shared Ownership Guide

Considering Shared Ownership as a way to get your foot on the property ladder and purchase a new build home? If so this simple Shared Ownership Guide explains everything you need to know.

Download Guide

To apply, visit the government’s Help to Buy website. If you’re eligible, we’ll refer you to an approved Independent Financial Adviser for free and impartial mortgage advice.

Your reservation fee reserves your new home and during this reserved period your new home will be withdrawn from sale and it will not be subject to any price increases. We will then ask you to exchange contracts and pay a deposit on exchange which is usually within 6 weeks of reservation. The reservation fee and deposit are then deducted from the price of your home.

We usually require a minimum £500 as a reservation fee however this is subject to regional variations and the amount can also vary depending upon the purchase price of the property.

Following the guidelines under the Consumer Code, a homebuyer has the right to be reimbursed the reservation fee but deductions to cover administrative costs apply. You will be supplied with any deductions information prior to reserving your new home.

At Laurus Homes, we aim to make our developments as accessible as possible and offer finance schemes on our properties across the North West. Whether you’re interested in Shared Ownership in Manchester, Cheshire or Northwest, we can help. Get in touch or search Find A Home to view our latest developments.

Featured Development


Hatters Park, Runcorn

3 Beds - 4 Beds £198,500+

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Only 5 plots remaining at the popular Hatters Park, call Heather on 07738 612690 to arrange a viewing today!

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