Visit Durham Key Options
Register Login

Shared Ownership

Shared ownership is a part-buy, part-rent scheme that can help you to take the first steps to owning your own home. You can buy a 25% - 75% share in a home, and pay rent on the share you don't own. The higher the share you buy the less rent you pay. Livin will own of the share you don't buy.

How it works

1

Check you are eligible

2

Apply for Shared Ownership

3

What can you afford?

Stage 1 - Check you are eligible

To be eligible to apply for a shared ownership home, you must:

  • Have a household income of less than £80,000 per year
  • Be a first time buyer or cannot afford to buy one outright
  • Be able to obtain a mortgage and/or savings for your share (deposits are typically 5-10% although may be higher in certain circumstances)
  • Have sufficient income to cover the mortgage, rent and service charges

Stage 2 - Apply for Shared Ownership

You should apply and be accepted onto the shared ownership scheme before you reserve your new home. All applications are done via the government Help to Buy local agent website. 

Stage 3 - Choose your perfect home

After you have been accepted onto the shared ownership scheme, we can help you determine what share you can afford to purchase. We will provide a breakdown of your rental costs and recommend you seek independent advice to arrange your mortgage. Your mortgage advisor will provide costs on mortgage related costs and payments. 

To view available shared ownership homes, use the link below.