Shared Ownership* makes buying a home more affordable, allowing you to purchase a share of between 25–75% of your new home and pay a below market rent on the remaining share.
When the time is right for you, you’ll be able to purchase additional shares (known as staircasing) all the way up to 100%.
Benefits of Shared Ownership
An affordable way to get onto the property ladder.
Cheaper rent than renting on the open market.
The option to buy more shares in your home or sell the shares you already own.
Security on your tenure.
How does it work?
You initially purchase between 25–75% of the home’s market value. You then pay subsidised rent on the remainder. With Catalyst properties nationwide, why not contact us today to find out how Shared Ownership can work for you.
Am I eligible?
To be considered eligible for the Shared Ownership scheme your yearly income must be below £90,000 within London, or £80,000 outside of London. Those who already own a home are not eligible for the scheme.
Will I need to pay a deposit?
In most cases, you will need 5% of the share percentage you are purchasing. Occasionally, some mortgage lenders offer products which do not require a deposit at all. A recommended mortgage advisor will be able to advise you on the best options available to you, so please ask us to refer you for further advice. If the property’s market value is £200,000 and you’re buying 35% then your proportion will be £70,000. This means you’ll need a deposit of £3,500 alongside a mortgage of £66,500. You’re also able to own the property outright, by increasing your share to 100%.
Want to know more?
If you’re in the process of purchasing a home through Shared Ownership* or if you have recently moved into a Catalyst home, you can find out more about living in your shared home here.
*Shared Ownership – Terms and conditions apply. This scheme is subject to qualifying criteria and status. Minimum and maximum share values will apply and rent is payable on the unsold share. Only available on selected properties. It is not offered with any other promotion unless by special arrangement by us. Please speak to our Sales Team for further details.