Our local community is very important to us, so if you think you can’t afford to buy your own home, think again. Shared ownership is a great way to get onto the property ladder.
Shared Ownership helps you get onto the property ladder, whether as a first time buyer or as someone who wants to get back into owning their own home. You’ll start by buying a share of your home, meaning smaller mortgage and smaller deposit, then pay affordable, subsidised rent on the remaining share owned by us. This rent is usually capped at 2.75% of the property value. Then over time, you can buy more shares in your home until you own it outright. Also known as ‘part buy, part rent’, Shared Ownership is backed by the government with further support from Winchester City Council. This is a great way to become a home owner, with all the opportunities and excitement that brings. We are looking forward to getting you on that first step.
The eligibility criteria for Shared Ownership is as follows:
- You must earn less that £80,000 per year
- You must be 18 years old or older
- You can’t already be a homeowner
- You can’t afford 100% of your new home
To buy through a shared ownership scheme and to confirm your eligibility, please contact Winchester City Council on 01962 848075.