What is shared ownership?
Shared ownership was introduced to help people who cannot afford to buy a home outright. Through shared ownership you buy a share of the property and pay an affordable rent on the remaining share. The remaining share belongs to the landlord, a member of the Harvest Housing Group, Outlook Homes’ parent company. Although you do not own the property outright, you enjoy the normal rights of a full owner-occupier.

How does shared ownership work?
The scheme allows you to purchase a share of a property, and the share you purchase is funded by a mortgage which you will need to arrange with a bank or building society – Outlook Homes can assist with the mortgage selection if required.

What percentage share can I buy to start with?
Normally purchasers will buy a 50% share, but you may be able to purchase a smaller or larger share dependent on your income or savings. The higher the share you purchase the less rent you will have to pay.

Who is eligible?
Anyone that is unable to buy a home outright on the open market may be eligible for shared ownership. This includes:

• First time buyers and key workers
• People still living at home with parents
• Those struggling to get on the property ladder
• People who are separated, divorced or single parents
• People currently living in private rented accommodation
• Occasionally buying criteria will apply

For further information about eligibility, please contact us.

Can I buy additional shares in the property?
Yes – After a 12 month initial period you can buy further shares until you own the property outright. Buying further shares is called ‘staircasing’.

How much deposit will I have to pay?

• You can pay a deposit if you wish
• There are a number of 100% mortgages available for shared ownership through specialist mortgage advisors which means that no deposit to purchase would be required
• Please contact Outlook Homes should you wish to be put in touch with a specialist mortgage advisor.

Can I resell the property?
Yes – You are free to resell the property.

Can I but a shared ownership home with someone else?
Yes – Up to four people can become joint owners but all joint applicants must individually and jointly meet the eligibility criteria. Please contact us for further information.