Link to Shared Ownership week uncovered

Key features and changes from the current model to the new model

The new Shared Ownership model will be implemented on all new build Shared Ownership homes delivered through the Affordable Homes Programme 2021-2026.

The government will continue to fund the current Shared Ownership scheme through the AHP until 2023, meaning that there will be a transition period in which both the old and new Shared Ownership models will be available.


Reduced initial share

You can purchase a share as low as 10% (based on affordability) instead of 25%.

This decrease will help to dramatically reduce deposit levels, making homeownership more accessible to many hopeful first-time buyers – particularly at developments in London where property values are highest and deposits have been pushed up over the past few years.


Increased lease

All new leases on new build Shared Ownership homes will have a minimum lease length term of 990 years instead of 99 years.



Residents will have the option to buy 1% each year for the first 15 years with heavily reduced fees.

After that, staircasing tranches have reduced from a minimum of 10% to 5%.


Repairs allowance

The revamped Shared Ownership scheme will introduce a 10-year period for new Shared Owners whereby the landlord or housing association will cover the cost of repairs and maintenance in the home.

Shared Owners will be able to claim up to £500 in repair costs per year, with any repair and maintenance costs in excess of this being the responsibility of the owner.

Shared Owners will also have the flexibility to roll over a maximum of one year’s worth of unused repairs expenditure into the following year.

It’s worth noting that the 10-year repair cover will only apply to new build homes for the first decade of the property’s life or until the Shared Ownership reaches 100% ownership – whichever comes first.

If the home is resold through the Shared Ownership scheme within this 10-year period, the remaining years will be transferred over to the new Shared Owner.


A right to Shared Ownership

A Right to Shared Ownership will also be available on the vast majority of rental homes delivered through the new Affordable Homes Programme, providing tenants with a pathway into ownership by giving them the right to purchase a stake in their home through the Shared Ownership scheme.

The majority of rented homes built through the programme will have the Right to Shared Ownership attached, although there will be certain criteria that tenants need to meet to be eligible:

  • You’ll need to be a social tenant for at least three years and have lived in the current property for at least 12 months
  • You’ll need to have a maximum household income of £80,000 or less – or £90,000 in London
  • You’ll need to demonstrate that you can afford and sustain homeownership; all prospective purchasers will be required to undertake an affordability assessment.
  • You must not be subject to bankruptcy proceedings.