Steps to shared ownership: From eligibility to moving in

1. Understand Shared Ownership

Purchasing a shared ownership home with us is a practical way to step onto the property ladder. To guide you through this process, we've outlined the essential steps, ensuring you have a clear understanding of what to expect.

Shared ownership is a government-backed initiative designed to help individuals who cannot afford to buy a home outright on the open market. It allows you to purchase a share of a property, typically between 25% and 75%, while paying a subsidised rent on the remaining portion. 

This approach reduces the initial deposit and monthly payments, making homeownership more attainable. For a comprehensive overview, visit our What is shared ownership? page.

Over time, you have the option to buy more shares until you own the property outright. This is called Staircasing. It’s worth noting that you won’t be able to staircase to 100% with all homes, so it’s important to check the lease and speak to your solicitor when you buy.

2. Check Eligibility

Before proceeding, it's crucial to determine if you meet the eligibility criteria for shared ownership. Generally, if you want to purchase a shared ownership home, you need to meet the following criteria:

• Have a household income of less than £80,000 (£90,000 if you live in London).
  
  
• Be first-time buyers, although some applicants who own or have previously owned a home may be eligible
  
  

• Have sufficient savings to meet the one-off costs of buying a shared ownership home, and access to capital or a mortgage to fund your share of the purchase.

• Some homes also have geographical eligibility criteria (live or work connections), so it's important to check the listing page of the homes you're interested in.
  
  

For detailed information on eligibility and the application process, please refer to our shared ownership eligibility page.

3. Financial Assessment

Understanding your finances is a vital step. This involves assessing your income, expenses, and credit history to determine the share of the property you can afford to purchase.

We can connect you with specialist shared ownership mortgage advisors who can help you with this.

You can use our budget calculator to give you an idea of what the monthly costs for a shared ownership home would be. This will help you to decide what share you can buy and what share will allow you to live comfortably. 

Working out your monthly outgoings can also help you to understand how much you can afford to pay and the share of the property you can afford to purchase. 

Budget calculator

Full market value

Share value

Share percentage

Mortgage deposit

Monthly costs

Total:

£679

Mortgage:

£249

Rent:

£430

4. Property Search

Once you’ve confirmed your eligibility and have an idea of what home you can afford, you’ll be ready to start searching for available shared ownership homes. We offer a variety of new and resale homes all across the South East of England. You can explore our current listings on the Find a home page.

Under shared ownership with us, we offer everything from apartments to family homes, so whether you're looking for shared ownership Canterbury, Gravesham or the wider Kent area. We can help you to get started on the property ladder and find your dream home today.

5. Reservation

Found a home you love? You’ll want to reserve it—but there’s a process to follow.

Our homes can be in high demand, especially just after launch, and we allocate them on a first come, first served basis. So, if you’ve seen a home that feels right for you, it’s a great idea to get your application in straight away—your date and time of submission will be used when we’re allocating homes.

If the home is available on our website, you’ll need to complete two quick forms: your application form and a ‘pick your favourite’ home form. If the home is listed as coming soon, just fill out your application form for now and we’ll contact you when it’s ready to reserve off-plan.

As part of your application, we’ll ask a few questions to make sure you meet the eligibility criteria—this can include things like local connection checks or area-specific requirements.

Even if a development is fully reserved, you can still submit your application. If a home becomes available again—for example, if a sale falls through—we’ll get in touch.

And here’s the exciting part: when you’re allocated a home, we’ll let you know—and at that point, you’ll be asked to pay a £500 reservation fee to secure it. This is a big moment in your journey to becoming a shared owner, and we’re here to help you every step of the way.

Our page on How do I reserve a home can provide more detailed information on what happens next.

6. Mortgage application

You'll have to speak with a mortgage advisor for an assessment before you reserve a home with us. Once you have completed mortgage forms, we will then speak to the mortgage advisor, who will let us know if you are eligible for a shared ownership property. It's advisable to consult with mortgage advisors experienced in shared ownership schemes to find a mortgage product to suit you. 

7. Appoint a Solicitor

It’s essential to work with a solicitor who’s experienced in shared ownership. They’ll handle all the legal details, like reviewing the lease, conducting searches, and making sure everything meets the legal requirements for your purchase.

If you need help finding one, just get in touch and we’ll provide you with the contact details of solicitors who specialise in shared ownership.

8. Exchange Contracts

Once your solicitor has completed all necessary checks and your mortgage offer is in place, you'll proceed to exchange contracts. At this point, you'll pay your deposit and are legally committed to buying the home. You're one step closer to becoming a shared owner!

9. Moving In

Once contracts are exchanged, we’ll agree on a completion date—that’s the big day when the final funds are transferred and the home officially becomes yours. To make things extra special, we’ll meet you at your new home on completion day to hand over the keys in person. We’ll also arrange a home demonstration, so you can get to know how everything works—from the heating and appliances to any other features that come with your home. Congratulations—you're now a shared owner, and we’re so excited to welcome you!

10. After You Move In

After moving in, you'll be responsible for monthly mortgage payments, rent on the unsold equity, and any service charges applicable. It’s important to plan for these regular costs so you can manage your finances confidently and avoid running into difficulties later on. For more details on your responsibilities as a shared owner, refer to our What do I need to know about shared ownership? page.

Starting your shared ownership journey with us is easier than you might think. We've laid out the steps clearly and provided helpful information on our website to guide you along the way. We’re here to make sure you feel prepared and supported as you take this exciting step!

Please note: The shared ownership process may vary based on individual circumstances and property specifics. It's advisable to consult with our sales executives and our panel mortgage advisors and solicitors for personalised guidance.

Related topics

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How do I reserve a shared ownership home?

Found a home you love? Reserving a shared ownership home with Moat Homes is simple. Like a property, create an account, and complete your application — all in one place.

Buying a new home off plan

Buying off plan means reserving a new Moat home before it's built. Find out how the process works and what to expect along the way.

How to secure a mortgage for a shared ownership property

Find out how to secure a shared ownership mortgage. From checking your eligibility to submitting your full application, we walk you through each step of the process.

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Resales

Johnsons Court - Ref SC/GT2509110600

School Lane Seal, Sevenoaks, Kent, TN15 0BE

£386 estimated monthly cost

1 bedroom

1 bathroom

Shares from 50%

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