Shared ownership helps people who can’t afford to buy a home at full market value. You buy a share of the property and pay rent on the remaining share. Over time, you can buy more shares and work towards owning your home fully.
If you’re a shared owner with us, this page will help you with information about service charges, repairs, and your responsibilities.
If you're interested in shared ownership or want to know more about available properties, please contact us. We'll be happy to answer any questions and guide you through the process.
As a shared owner, you’re responsible for repairs inside your home.
We will handle repairs in communal areas (e.g. lifts, fire safety equipment, pump systems, roofs), and you’ll be charged a proportion of the cost as part of your service charge.
If you need to report a repair to the communal areas, please contact us.
Your service charge covers the cost of maintaining communal areas and services, while repairs inside your home are your responsibility. For more details, visit our service charge page.
Shared ownership leases typically last 125 years. If you want to extend your lease, we’ll consider your request informally, but you’ll need to cover the costs.
If you want to sell, let us know. We can help, but you'll need to follow the procedures set out in your lease. There may be fees involved, and prospective buyers must meet government criteria for shared ownership.
Subletting or short-term letting (e.g. via Airbnb) is not generally allowed unless your lease specifies otherwise.
Way may consider a request under extremely exceptional circumstances if:
If these circumstances apply to you, please contact us.
You can increase your share of the property after one year of living there. The more shares you buy, the less rent you pay. You'll need a valuation from an independent RICS-qualified valuer to buy more shares. Remember, you are responsible for your legal and valuation costs. If you want to buy more shares, contact us.
In exceptional circumstances, a shared owner can sell some shares back to us and remain in their home. The aim is to reduce their mortgage to a more affordable and sustainable level, whilst still paying rent.
Buy backs are not a right. The decision to allow buy backs is at our discretion, and it is not something we offer.
If you're not sure about your rights and responsibilities as a shared owner, or if you need help, please contact us . We're here to assist you. There is also some helpful detailed information on our leaseholders page .