Shared Ownership

Shared Ownership/New Build Homebuy is a government-funded scheme making home ownership more affordable.

It is a part-buy, part-rent scheme where you buy a share in a newly built or refurbished home and pay a subsidised rent on the share you don’t own.

You can usually buy a share of between 25% and 75% of your home. Any time after the first year, you can buy more, or all of the remaining equity. This process is known as staircasing. The rent reduces by the corresponding percentage as you buy more equity.

When you want to sell your home, you are required to ask us to nominate someone to buy your share. This ensures affordable homes are kept available for more that need them through shared ownership. These transactions are usually called resales.

Some shared ownership schemes/ New Build Homebuy are specifically targeted at key workers.

Shared ownership schemes are run by L&Q's sister company Tower Homes. Please visit their website for all the details www.towerhomes.org.uk

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