Help to buy advice

Shared ownership

The government's shared ownership scheme allows you to buy a share in a home from a housing association (also called a registered provider) and pay a discounted rent on the remainder.

When you buy a home through shared ownership you:

  • buy a share between 10% and 75% of the home’s full market value.
  • pay rent to the landlord for the share they own.
  • usually pay monthly ground rent and service charges, for example towards the maintenance of communal areas.
  • you can buy further shares in your home at a later date (known as 'stair-casing').

You may be eligible to buy a homes through shared ownersip if:

  • you have a household income of less than £80,000 (outside London) or £90,000 (inside London)
  • you cannot afford all of the deposit and mortgage payments for a home that meets your needs

One of the following must also be true:

  • you’re a first-time buyer
  • you used to own a home but cannot afford to buy one now
  • you’re forming a new household - for example, after a relationship breakdown
  • you’re an existing shared owner, and you want to move
  • you own a home and want to move but cannot afford a new home that meets your needs

Find out who sells shared ownership homes in the local area

Visit the government website to find out who sells shared ownership homes in the district. 

Will I be eligible for a shared ownership home in Lichfield District?

Most shared ownership properties in Lichfield District are prioritised for people with a local connection to the district who are in housing need.

Anyone that fits the local connection criteria would usually get priority over other applicants for the first three months of the property is available.

This only applies to new-build shared ownership homes and not re-sales.

The local area connection criteria varies between developments, but generally it’s based on:

  • Being a resident (or employed within) the area for a number of years (usually between 2-5).
  • Having close family connections with relatives living in the district, such as a parent, grandparent, child, grandchild or adult sibling who has lived in the area for at least three years.

Find out how to apply for shared ownership.