What is shared ownership?
Shared ownership is a government backed initiative that helps people buy a home who can't afford to do so on the open market. Often referred to as part buy part rent, shared ownership is one of the most affordable home ownership options.
Shared ownership offers the chance to purchase a share of a property, usually between 25% and 75%, while paying a subsidised rent on the remainder.
Shared ownership is a form of leasehold ownership where you own the share that you buy, and the remainder belongs to Moat. You’ll have a lease for the property, which is a legal contract between us and you, that will outline your rights and responsibilities as a shared owner. The original lease length will usually be for 99 or 125 years.
You will be able to sell your share to a new buyer whenever you want and further shares can be purchased at any time; this is known as staircasing.
The monthly mortgage payment, rent and service charge can work out to be cheaper than privately renting and shared ownership offers the long term security of owning a home. It is a good idea to work out your own calculations and comparisons depending on where you wish to live. An mortgage advisor can help you work through these calculations.
A 5% - 10% mortgage lender deposit is required for the share value being purchased which, in the current market, makes it possible to own a home through shared ownership.
For more information about shared ownership, please see our buyer’s guide.
Moat has apartments and houses for shared ownership across the south-east, including London, Kent, Sussex and Essex.
Shared ownership is a form of leasehold ownership (usually for 125 years) and the lease determines owners rights and responsibilities. Shared owners can sell their share to a new buyer whenever they want and further shares can be purchased at any time; this is known as staircasing