Shared ownership is a way to buy a share of a property if you cannot afford to buy on the open market. You pay rent on the part you do not own.
How shared ownership works
You usually buy a share of between 25% and 75% of a property.
You then pay rent to the housing association that owns the remaining share.
Buying more of your home
Some shared ownership schemes allow you to buy a larger share of the property over time. This is known as staircasing.
You may eventually be able to own 100% of the property, depending on the scheme.
Shared ownership homes in Allerdale
Shared ownership homes are usually provided by housing associations.
In Allerdale, providers include:
Contact the housing associations to find out about available shared ownership properties.
Eligibility and applying
Some shared ownership properties are part of an affordable housing scheme.
Before you can buy one of these properties, we may need to carry out an assessment to confirm you are eligible.
If this applies, you will need to:
- complete an application form
- provide information about your finances
Applications are usually only considered when a property is available.
Contact us
For more information about affordable housing:
Telephone: 0300 373 3730
Email: [email protected]
Policies and guidance
Shared ownership homes form part of the council's affordable housing scheme.
The following policies explain how eligibility is assessed: