How Shared Ownership Works: From Eligibility to Moving In

Buying a home is a big milestone and it's natural to have questions about what happens next. Whether you're interested in a brand-new home or a shared ownership resale, understanding the process can help you feel more confident about your next steps.

The exact journey may vary depending on the home you're buying, but this guide explains what you can typically expect when purchasing a shared ownership home with Moat.

1. Understand how shared ownership works

Shared ownership is a government-backed scheme designed to help people buy a home who might not be able to afford one on the open market.

Instead of buying a home outright, you'll buy a share, usually between 25% and 75%, and pay rent on the share you don't own.

Many buyers choose shared ownership because it can reduce the size of the deposit and mortgage required compared with buying a home outright.

You'll also usually have the option to buy more shares in the future through a process called staircasing.

Learn more about What Is Shared Ownership.

2. Check that you are eligible

Before you start applying for homes, it's worth checking that you're eligible for the shared ownership scheme.

In most cases, you'll need to:

Have a household income of less than £80,000 (£90,000 in London).
Be unable to afford a suitable home on the open market.

Have enough savings for your deposit and home-buying costs.
Be able to obtain a mortgage for the share you're buying.

Some homes may also have local connection requirements or other criteria.

Read our Shared Ownership Eligibility Guide.

3. Understand what you can afford

Before choosing a home, it's helpful to understand your budget.

Our budget calculator can give you an estimate of monthly costs based on different share sizes and deposit amounts.

While we can't provide financial advice, we can put you in touch with specialist mortgage advisers who understand shared ownership and can help you understand:

How much you may be able to borrow.
What size share could be affordable.
Your likely monthly costs.
The deposit you may need.

Try our Shared Ownership Budget Calculator.

Budget calculator

Full market value

Share value

Share percentage

Mortgage deposit

Monthly costs

Total:

£679

Mortgage:

£249

Rent:

£430

4. Find a home you love

Once you know what you can afford, it's time to start exploring homes.

We offer a range of new build and resale shared ownership homes across Kent, Essex, Sussex and South East London.

Whether you're looking for an apartment, a coach house or a family home, you can browse available homes and register your interest through our website.

If you're considering a new build home, you may also want to learn more about buying a home off-plan and what to expect before the development is completed. If you're interested in a resale home, our resale guide explains how these homes differ from brand-new properties and what to expect during the buying process.

5. Register your interest and apply

Once you've found a home you're interested in, the next step is to register your interest through our website.

What happens next will depend on the type of home you're interested in.

New Build Homes

If a development is listed as Coming Soon, you'll be able to register your interest and we'll keep you updated. When the development launches and homes become available to reserve, we'll contact you by email with details of the next steps.

If homes are already available, you'll be invited to complete an application and tell us which homes you're interested in.

Resale Homes

If you're interested in a shared ownership resale home, registering your interest allows our Resales Team to contact you and arrange a viewing, subject to availability.

Like any shared ownership home, you'll still need to meet the scheme's eligibility requirements and complete the necessary application process.

To ensure homes are allocated fairly, applications are assessed in line with our Sales Policy.

Read our Sales Policy.

                        Common Questions About Buying a Shared Ownership Home
                    
Do I need to have a mortgage arranged before I start looking for a home?

No. Many buyers begin by exploring available homes and understanding what they can afford before arranging a mortgage. When you're ready to move forward, we can introduce you to specialist mortgage advisers who understand shared ownership.

Can I buy a new build home or a resale home through shared ownership?

Yes. Shared ownership is available on both new build and resale homes. The buying process is similar, although some stages may differ depending on the home you're purchasing.

What if I don't know what share I can afford?

Don't worry. Our budget calculator can help you understand the monthly costs associated with different share sizes, and a specialist mortgage adviser can help you understand what may be affordable based on your circumstances.

Do I need a solicitor?

Yes. You'll need a solicitor to handle the legal aspects of your purchase, including reviewing the lease, carrying out searches and completing the conveyancing process.

How long does it take to buy a shared ownership home?

Timescales vary depending on the home you're buying, the mortgage process and legal checks. New build and resale purchases can also differ slightly. Our Sales Team will keep you updated throughout the process.

6. Reserve your home

If we're able to offer you a home, we'll contact you and invite you to reserve it.

At this stage, you'll pay a £500 reservation fee to secure your home.

We'll also explain what happens next and provide guidance on the information and documents you'll need throughout the buying process.

7. Complete your financial assessment

Once you've reserved your home, you'll be asked to complete a financial assessment with an independent mortgage adviser.

This helps confirm that the home is affordable for you and that you meet the shared ownership requirements.

It's also an opportunity to discuss your mortgage options and ask any questions about financing your purchase.

8. Appoint a solicitor

You'll need a solicitor who specialises in shared ownership purchases to handle the legal aspects of buying your home.

They'll review the lease, carry out searches and work with your mortgage lender to ensure everything is in place before contracts are exchanged.

If you're looking for a solicitor, we can recommend firms with experience in shared ownership.

9. Exchange contracts and complete your purchase

Once your mortgage offer is in place and your solicitor has completed all the necessary checks, you'll exchange contracts.

This is the point where you become legally committed to buying your home.

A completion date will then be agreed, and the final funds will be transferred.

10. Collect your keys and move in!

Completion day is when your home officially becomes yours.

We'll meet you at your new home to hand over the keys and provide a home demonstration so you can get familiar with everything from heating controls to appliances and any development-specific features.

Congratulations, you're now a shared owner!

What happens when I move in?

Once you've moved in, you'll make:

Your monthly mortgage payments.
Rent payments on the share you don't own.
Any applicable service charges.

Over time, you may choose to buy more shares in your home through staircasing, depending on the terms of your lease.

You can also sell your shared ownership home in the future if your circumstances change.

Learn more about:

What documents will I need?

To help your purchase progress smoothly, it's useful to have the following ready:

Proof of identity.
Proof of address.
Details of your income and savings.
Recent bank statements.
Information about your deposit.
Details of any loans, credit commitments or financial obligations.

Having these documents available early can help avoid delays later in the process.

Ready to take the next step?

Whether you're still exploring your options or have already found a home you'd love to buy, our team is here to help.

From checking eligibility to understanding affordability and finding the right home, we'll support you throughout your shared ownership journey.

View all

Resales

Frinsted Gardens - Ref JB2605111430

Frinsted Gardens, Ashford, Kent - Ref JB2605111430

£722 estimated monthly cost

2 bedrooms

1 bathroom

Shares from 60%

Full market value from £150,000

Resales

Johnsons Court - Ref SC/GT2401108720

School Lane, Seal, Sevenoaks, Kent, TN15 0BE

£203 estimated monthly cost

1 bedroom

1 bathroom

Shares from 75%

Full market value from £150,000

Resales

Johnsons Court - Ref SC/GT2301108037

School Lane, Seal, Sevenoaks, Kent, TN15 0BE

£202 estimated monthly cost

1 bedroom

1 bathroom

Shares from 75%

Full market value from £160,000

Steps to shared ownership: From eligibility to moving in

1. Understand how shared ownership works

2. Check that you are eligible

3. Understand what you can afford