Help & Advice
Shared ownership allows you to buy a percentage of your home and pay rent on the rest.
Shared Ownership is a government affordable home ownership scheme that allows those who can't afford all of the deposit and mortgage payments for a home that meets their needs.
Shares can start from between 10% - 75% of the home’s value, depending on your lease and if the property is a resale home. The more of the property you own, the lower your rental payments to Plymouth Community Homes will be. However, not all homes will be available to purchase from 10%. The minimum initial share you can purchase will vary depending on the home.
You’ll usually need a deposit of between 5% and 20% of the share you are buying and will need to get a mortgage for the remainder of the share you purchase.
Our properties are leasehold, and you will be offered a lease between 125 and 990 years. If you purchase a resale home you will be buying the remaining term of the lease. As a shared owner, you will be able to buy more shares and on most of our properties, purchase the freehold once you staircase up to 100%.
