While shared ownership is already one of the most flexible options when it comes to buying a home and planning your future, the new proposals for the scheme have taken it that one step further. While previously you could choose shares of a property between 25% and 75%, with the new proposals you can now choose shares as little as 10% on a home meaning you can go at your own pace when it comes to climbing the property ladder. Shared ownership is a great option if you don’t want to be tied down to a hefty mortgage and with the option now to reduce this portion even more, getting on the property ladder has never been easier. So how do lower share options benefit a buyer and how does it change the way you buy your home?

Smaller deposits

With shared ownership, you already benefit from paying a much smaller deposit than buying through simply getting a mortgage. With shared ownership you only pay a deposit on the amount you want to buy rather than the entire market value of the property. This can be as little as 5% of the share meaning for a 25% of a £200,000 home you could pay a deposit as little as £2500. With deposits often being the biggest hurdle for first time buyers, this can really help change the way you think about buying your home and at what point on your saving journey you can afford to do so. With shares now as little as 10% you could pay just £1000 to move into your £200,000 home making the process even easier. This is perfect if you’re in a rush to move or you don’t quite have the savings but can’t compromise on space for the kids or proximity to the workplace. And with shared ownership homes in Surbiton to shared ownership houses in Hampshire you can find exactly what you need for the perfect price.

Smaller Mortgages

Another big hurdle when it comes to buying a property is always getting a mortgage. Not only can it be a lengthy process but being rejected for a mortgage on a house you love can be frustrating. With shares as little as 10% for £200,000 you only have to ask a bank or broker for a £19,000 mortgage after you’ve put down the deposit. This is a lot easier than asking for a mortgage of £180,000, especially if you happen to be a single person wanting to live alone. Buying a home through shared ownership really tackles any troubles you may have getting a mortgage and allows you to access bigger homes with shared ownership properties in Sevenoaks to East Sussex to suit you and your family at better monthly costs.


While you might think – what’s really the point of owning just 10% of a property, this is where staircasing comes in. Staircasing allows you to buy more of your home overtime so you don’t have to worry about walking away with only a small profit when you decide to move out. In a lot of cases people staircase to 100%, essentially allowing them to climb the property ladder at a pace that suits them, their lifestyle and their finances. Not everyone is the same when it comes to buying a property so with the flexibility shared ownership offers, buying your own home as a first time buyer through the scheme takes the pressure off.