What is shared ownership?
Shared ownership is a form of low cost home ownership that combines ‘renting’ with buying. It allows you have a stake in the ownership of your home if you are currently unable to buy outright.
You can choose to buy an initial share of 25%, 50% or 75% share then pay a monthly ‘rent’ to Link, known as an ‘occupancy payment’. The amount you pay depends on the size of the share you buy – the larger your share, the lower your occupancy payment. You can purchase further 25% shares or the remainder of the property from one year after you move in.
There is no obligation to ultimately buy 100%.
Am I eligible for shared ownership?
Priority is normally given to people who:
- are first time buyers
- are living in rented accommodation
- have experienced relationship breakdown
- cannot meet their housing needs on the open market
Applicants normally need a household income of at least £15,000 a year to be eligible. The cost for shared ownership is higher than simply renting from Link but you do have a capital stake in your home and will benefit from any increase in its value.
Further information
For more information read the shared ownership FAQ.
I’m interested – what do I do now?
To apply, please do one of the following:
- Download and complete an application form
- Call our customer service centre on 08451 400 100
- or email us with your contact details and phone number at linkhomes@linkhaltd.co.uk.