Shared Ownership
What is Shared Ownership?
Through the shared ownership scheme you can purchase a home on a part buy, part rent basis, from a registered provider.
How does it work?
You buy a share of between 25% and 75% in a new home and pay rent on the part you don’t own. The amount you can purchase will be determined by what you can afford, based on your income and outgoings. You will be required to maximise your share. You are likely to need a deposit of between 5% and 20% of the share you are buying.
If and when you can afford to, you can buy more shares in your home and can eventually own it outright, a process known as ‘staircasing’. You are also able to sell your share if you wish to move in the future. You can find more information about staircasing and selling your shared ownership property on the current owners page.
The following developments are part of this scheme:
Darlington Area
| Development | Developer | Location |
|---|
| Woodland View | Tees Valley Housing | Darlington |
Durham Area
Hartlepool Area
Middlesbrough Area
Redcar and Cleveland Area
| Development | Developer | Location |
|---|
| The View | Times4Homes | Loftus |
Stockton-on-Tees Area
| Development | Developer | Location |
|---|
| Mandale | ISOS | Thornaby |
