- Shared Ownership FAQs
- Shared Ownership Eligibility
- Shared Ownership Pros and Cons
- Shared Ownership Purchase Process
- Cost of buying a Shared Ownership home
- Shared Ownership homes near me
- Shared Ownership New Build homes Vs Resale homes
- Shared Ownership Mortgage Lenders
- Shared Ownership vs renting
- Shared Ownership Myth Busting
- Eligibility Check
What are your options after buying through Shared Ownership
Are you a current shared owner and wondering what comes next? There are a few options available to you as we explore below.
Thinking about your next step after buying through Shared Ownership?
Shared Ownership is an affordable housing scheme designed to help people buy a home who otherwise couldn't afford to buy on the open market. It has helped thousands of people in the UK step onto the property ladder and find a home to call their own.
If you are an existing shared owner, you may be wondering what options are available to you after you buy your first home through Shared Ownership.
Whether you have some extra savings and looking to build more equity in your current Shared Ownership home, or looking to start a family and need more space, there are several options available to you.
Find out more below and see what you can do with your Shared Ownership home.
Staircasing - Buying more shares in your Shared Ownership home
When buying a Shared Ownership home, you buy an initial share of the value of your home (usually 25%) and pay rent on the percentage you don't own.
With Shared Ownership, you have the option of buying more shares in your home, known as 'Staircasing'. By buying additional shares, you will own more of your home and pay less rent until eventually you staircase to 100% and own your home outright and pay no rent!
The price you pay for any extra shares in your home is based on the market value of your home at the time which could go up or down. The value will be set by an independent RICS-qualified valuer.
Discover more about Staircasing and how you can buy more shares in your Shared Ownership home.
Guide to Staircasing
Selling your Shared Ownership home
Shared Ownership is an affordable buying scheme aimed to help people step onto the property ladder. For some, it may be their forever home as they staircase and eventually own 100%.
For others, its meant as a stepping stone to getting onto the property ladder and you may now be looking to sell your home.
Thankfully with Shared Ownership, it's easy to sell your home and you can sell at any time you need to. So whether you are looking to grow your family and find a bigger place or looking to move to a new area, selling your Shared Ownership home may be right for you.
Find out more information about selling your Shared Ownership homes and the steps involved.
Selling your Shared Ownership home
Looking to buy a new Shared Ownership home?
Shared Ownership is designed to help first-time buyers get onto the property ladder. However, its not just for first-time buyers.
If you are an existing shared owner, as long as you are in the process of selling your home, you can usually buy another Shared Ownership property that better meets your lifestyle needs.
Some housing providers also have products available to allow you to step up and move from one Shared Ownership home to another helping you along the home-buying process.
Take a look and discover Shared Ownership homes near you available from Peabody New Homes.
Shared Ownership homes near me
Search Shared Ownership homes
Peabody New homes has a wide selection of new build and pre-owned Shared Ownership homes throughout London and the Home Counties. Use our property search to find your perfect home today.
Find out what our homeowners say
Buying a first home, getting married and preparing for the arrival of a baby are all busy life events. Raph and Jaye would know, after experiencing all these milestones simultaneously. They purchased a 25% share of a two-bedroom apartment at The Switch in Wimbledon, with a £42,600 deposit.
READ ALL THE STORIES
After spending years renting in London, wealth manager Aroma Khan purchased a 30% share of a three bedroom apartment in Queensbury, northwest London. She had no idea that, just two years later, she would be staircasing her way up to 100% ownership with a friend.
READ ALL THE STORIES
Luca moved to London from Italy to work at a university. After a few years renting in London, Luca was able to purchase a 50% share of a bright two-bedroom, two-bathroom home through Shared Ownership at Arden, in Lewisham.
READ ALL THE STORIES
Shared Ownership New Build homes Vs Resale homes
Shared Ownership is a home-buying scheme designed as a more affordable way to get onto the property ladder. Shared Ownership is available on new build and second-hand (resale) homes, but which is right for you?
Shared Ownership homes near me
Are you looking for a Shared Ownership home near you? Peabody New Homes offers a wide selection of new build and resale homes throughout London as well as the Home Counties.
Staircasing
The process of buying more shares for a Shared Ownership home is reffered to as staircasing. If you staircase to 100% you will become an outright owner.