Shared Ownership

Shared ownership is our most flexible purchase option; you can choose how much of a property you buy and can buy more if you want to, as and when it’s convenient for you.

We can offer a share of between 50-70% of a property and pay a rent on the part that you don’t own. The higher the share you purchase, the less rent you will have to pay. Over time, you have the option to increase your shares if you can afford to do so; this is called stair casing.

We are committed to helping people benefit from Shared Ownership, as this option can help 'get your foot onto the property ladder' and potenially lead you to owning your own home.

Find out more about Shared Ownership here.

Shared Ownership – Wales makes it possible for you to buy a home that otherwise may not have been affordable. It is a Welsh Government supported scheme for people who are unable to afford to buy a home at the full market value (please note: household income limits apply). It is a part buy/part rent scheme; meaning you buy a share in the home and pay rent on the remaining share you do not own.

When you buy through Shared Ownership – Wales, this makes you a part owner of your new home, rather than just a tenant. You are buying a share in your new home on a long term lease.

As you will own a lease, you will be a ‘Leaseholder,’ and we will be what is known as the ‘Landlord’. Your lease is a legal document that proves you own part of your home and therefore, have the same rights and responsibilities as a full owner-occupier*. If you decide to buy the remaining share of your home, you will then own your home outright. Your solicitor will act on your behalf, in arranging for the freehold to be transferred to you, like any other home owner.

If you own an apartment, you will normally remain a Leaseholder, like any other apartment owner. This is because your home is in a block of apartments and your lease sets out responsibilities for use and maintenance of all shared areas. If you become a full owner of an apartment, you will still be responsible for the ground rent and service charge; which includes the building insurance cost, incurred by the Landlord.

If you become a full owner of a house, you may still be required to pay a service charge; also referred to as an estate or management charge, if you are living in a development with shared maintenance areas. You will also need to arrange your own buildings insurance, as this will not be covered by the service charge.

Your lease sets out certain conditions such as:

• How often your rent and service charge is reviewed

• Your rights and responsibilities as an owner-occupier

• The rights and responsibilities of the Housing Association as your landlord

• The procedure for buying more shares in your home and also for selling your home

Please note: the property must be your main residential home and you must not own another property. You must live in the property. The lease has a sub-letting clause, preventing you from sub-letting your property.

*Subject to the terms and conditions of your lease.