Shared Ownership

Shared ownership is an affordable way of getting on the property ladder and owning the home you’ve always wanted.

If you are struggling to buy a home outright and are having difficulty raising a deposit, then shared ownership could be the perfect solution for you.

You simply buy a share in a home and pay a reduced rent on the share you don’t own. You can usually buy shares in a home from 25% to 75%.

For our 18 Livingston development we specify a minimum share of 50%.

If you are not sure how much of a share you can buy, we can signpost you to independent advisors who can help you to make your decision as this will depend on your financial situation. Then, as and when you can afford to do so, you can increase your share in your home until you own it outright.

Am I eligible?

There are specific criteria which must be met to qualify to buy a shared ownership home:

  • You cannot afford to buy a house on the open market.
  • You are employed and can provide payslips for the last three months.
  • You have at least two years’ audited accounts if you are self-employed.
  • Your income fits the affordability criteria for the property you wish to buy.
  • You have savings to cover the mortgage deposit, plus approximately £3,000 for legal, survey and mortgage fees (plus stamp duty if applicable).
  • Your household income is below £80,000 a year.
  • You have not been made bankrupt/had an IVA (Individual Voluntary Arrangement) and have been discharged for at least three years.
  • You are not an existing home owner.
  • The property must be your main place of residence.

Can I apply?

You will need to be registered with a Help to Buy agent to begin with to make sure you meet the overall criteria. You can do this at www.helptobuynw.org.uk

We will contact you once our new homes are released for shared ownership and invite you to our open day where you can make an application if interested.

Register your interest

By registering my interest, I give consent for my personal data to be used so that I can receive relevant emails, phone calls and/or text messages relating to news, events and launch information for this development and other South Liverpool Homes developments I may be eligible for. I consent to my data being shared internally with South Liverpool Homes staff.