Understanding Shared Ownership

Shared Ownership is a government-backed scheme designed to make buying a home more affordable. You purchase a percentage of a property - typically between 10% and 75% - and pay rent on the remaining share to a housing association or developer.

You can increase your ownership share gradually through a process known as “staircasing”, meaning you could eventually own your home outright.

How It Differs from Traditional Buying

• Lower deposit - You only need a deposit on the share you’re buying.
• Reduced mortgage requirements - As you’re borrowing less, monthly repayments can be more manageable.
• Rent replaces full mortgage payments - You’ll pay rent on the portion you don’t yet own. If you purchase a new-build shared ownership home, the initial rent limit is 3% of the value of the share that you do not own.

Who Can Apply?

Shared Ownership is open to a wide range of buyers, not just first-timers. You may be eligible if:

• Your annual household income is below £80,000 (or £90,000 in London).
• You do not currently own a property anywhere in the world or your current home is SSTC and you could not afford to buy a similar property on the open market.
• You can demonstrate you can afford both the mortgage and rent payments.

Local connection requirements may also apply in Oxfordshire, depending on the development and the housing association involved.

Finding Shared Ownership Properties in Oxfordshire

There are several ways to explore shared ownership homes locally:

• Government and national portals such as Share to Buy list available shared ownership homes.
• Housing associations frequently deliver shared ownership developments across the country and will list their upcoming developments on their websites.
• Local estate agents and developers - Breckon & Breckon works with reputable developers offering shared ownership homes across Oxfordshire  so register with our new homes team to keep up to date with upcoming schemes.

You can view our latest shared ownership listings through our New Homes collection.

• Fishers Vale
• Beckley Place

Shared Ownership Mortgages Explained

A shared ownership mortgage is specifically designed for this type of scheme. It covers only the portion of the property you’re buying – meaning you’ll need a smaller deposit and loan amount than for a traditional purchase.

When comparing lenders:

• Look for flexible staircasing terms, allowing you to increase your ownership share later.
• Consider interest rates and product fees carefully, as they vary by lender.
• Many major banks and building societies - including Halifax, Barclays, and Nationwide - offer dedicated shared ownership products.
• Speak to an advisor: Carbon Funding Consultants are specialist mortgages brokers who have experience with Shared Ownership schemes. 
• If you do decide to apply for a shared ownership property you will be asked to complete a financial assessment by the developers chosen mortgage advisors. This will need to be completed prior to you being able to reserve a home but you do not have to use them for your mortgage application if you do not want to

Using a Shared Ownership Calculator

A shared ownership calculator can help you estimate:

• Your potential monthly mortgage payments
• The rent payable on the remaining share

Try using the Share to Buy Calculator or your mortgage lender’s online tool to understand what your combined monthly outgoings might look like before applying.