What are the benefits of shared ownership in the UK?

What are the benefits of shared ownership in the UK?
3rd August 2023

Finding a place to call your own in the ever-challenging property market can often feel like a daunting task. But fear not! Shared ownership is a fantastic solution for many aspiring to buy a property. In this blog, we will explore the benefits of shared ownership, shedding light on how this option can help you achieve your dream of buying a home without breaking the bank.

Affordable entry onto the property ladder

One of the most significant benefits of shared ownership is its ability to provide an affordable entry point onto the property ladder. For many first-time buyers, accumulating a substantial deposit to secure a mortgage on a property can be financially overwhelming. Shared ownership, however, allows you to purchase a share of the property (usually between 25% to 75%) and pay rent on the remaining portion. This way, you can get your foot on the ladder with a much smaller deposit, making buying a property a realistic goal.

Option for staircasing

If your income increases over time or you’re able to gradually put aside some money, you can buy additional shares in the property, otherwise known as “staircasing”. This will reduce your monthly rent payments and increase your ownership stake.

Stability and security

Shared ownership offers greater stability and security compared to renting. Unlike renting, where landlords can decide to sell the property or terminate the tenancy, shared ownership grants you more control over your home. As a shared owner, you have legal rights and protections similar to those of a “traditional” homeowner. This means you can paint, decorate, hang things on the walls, and truly make the property your own. You can even make structural changes, providing you get permission from the housing association or landlord.

Building equity

When you buy a share in a property, you also invest in its future. If the property appreciates over time, your share in the home grows in value. If you decide to sell your share later on, you can potentially make a profit, especially if property prices have risen since your initial purchase. This aspect of shared ownership allows you to build equity and opens up opportunities for future financial gains.



Access to desirable locations

Shared ownership often opens up opportunities to buy in desirable locations that may have otherwise been out of reach. Since you are purchasing a share of the property, the overall cost is lower, making it possible to live in areas with higher property values and better amenities, such as schools, parks, and transportation links.

Stronger sense of community

As a shared owner, you have a vested interest in the property. The feeling of buying a home often translates into a stronger sense of community and investment in the local neighbourhood than if you were renting. It encourages a positive attitude towards property maintenance, taking care of your home and surroundings, and fostering good relationships with other residents in the area.

So, if you're ready to embrace buying a home and embark on an exciting journey towards financial stability, shared ownership might just be the ideal solution for you! Take the leap, invest in your future, and unlock the many benefits of shared ownership in the UK. Get in touch with the SOWN Team for a no-obligation chat, they can answer any questions you may have.


Shared ownership could open the door to your dream home. But is it the right move for you?

We can help you decide.

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