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Shared Ownership

Shared Ownership is a part-buy, part-rent scheme whereby you purchase a share in a property depending on what you can afford. The share you purchase may be paid for via a mortgage or a cash lump sum or combination of the two. You then pay a rent on the share of the property that you don't own (the higher percentage you own the smaller the rent and vice versa). The scheme is designed to help people onto the housing ladder with an option to purchase an increased share in the property in the future or buy it outright whenever you can afford to.

If you are interested in purchasing a Shared Ownership property, please follow this link to the Affordable Home Ownership Register. By completing this form we can learn more about the need for affordable home ownership in Fareham Borough and we can also let you know early on about opportunities for Fareham Housing Shared Ownership (if you indicate you'd like to hear about such information).

In addition to this you can also visit the GOV.UK shared ownership homes webpage External Hyperlink, as this will give you details of all organisations that offer shared ownership homes in the Fareham Borough Council area.

 

Please visit our Current Shared Ownership properties webpage for more information about any Fareham Borough Council shared ownership homes that are currently available.

 

Shared Ownership Rent Example*

Total value of the home £320,000
Your share (25% of the total) £80,000
Remaining share (75% of the total) £240,000
Rent for the first year (2.75% of remaining share) £6,600
Your monthly rent £550

*please note this example is for illustration purposes only (for example, to give an indication of the cost of purchase, rent etc). It does not mean that 25% is the minimum that is available for shared ownership purchases.

Costs to consider

You'll need to plan for the purchase costs involved in buying a home. The costs to consider are below:

When you register interest in a home, the provider will give you a 'Summary of costs' document. This sets out the purchase costs, the monthly payments, and any future costs if you choose to buy more shares or sell the home.