Buying your first home

If you are thinking of buying your first home, there are a number of things you need to consider.

You will need:

  • a deposit of at least 5% of the total cost
  • savings that cover the costs of solicitors and other fees such as stamp duty

Shared ownership

Housing associations own a number of properties which can be bought on a part rent, part buy basis. These are usually new build properties but also include resale properties.  

Shared ownership helps home buyers to buy a share in a property with their own deposit and mortgage, and pay rent on the share that they do not own. The initial percentage share which can be bought may range from 10% to 75%. Further shares can be bought in small installments when the home owner can afford to do so.


The eligibility criteria for buying a shared ownership property may differ from scheme to scheme. However, the following criteria give an idea of what is required.

You must:

  • be a UK citizen, aged over 18
  • be in employment
  • have a total household income below £80,000 

Visit our introduction to shared ownership housing page to learnt about how shared ownership works and what you could afford.

Contact information

Welfare and Housing Service

Make an enquiry