Shared ownership houses are supplied by and bought from registered providers of social housing. Providers are more often known as housing associations.
You may want to consider buying a shared ownership property if you:
- are in rented accommodation
- are employed
- can afford the upfront cost of a deposit, legal and removal fees
There are some basic shared ownership eligibility criteria you need to meet.
Getting started
Research properties and costs
Research the types of properties available and the costs involved. We have provided links to some useful websites at the bottom of this page.
The case studies on this page will also give you an idea of the costs you can expect.
Find out what you can afford
Get an assessment of what you might be able to afford and whether you meet financial eligibility criteria. Contact a specialist shared ownership mortgage broker such as:
Start looking
Once you know your eligibility and what you could afford, you can start looking seriously.
If you see a property you like, contact the registered provider to find out more and check your ability to buy the property.
The steps to finding and buying a shared ownership property are set out below.
Reservation process
1. Submit your expression of interest
To submit an expression of interest, you will need to:
- contact the sales team at the relevant registered provider
- give your personal details and the details of the homes you're interested in
- ask any specific questions you have about the property
2. Check your shared ownership eligibility
To be eligible, you must:
- be first time buyer or your current property must be sold or under offer
- have a total household income below £80,000
- be unable to afford to buy a home on the open market
Visit who can apply on GOV.UK for more information.
3. Check your financial eligibility
To be financially eligible:
- you must be able to afford the associated costs of buying such as legal fees, removal costs and stamp duty
- you must have a deposit of at least 5% of the share price
- you must be able to afford the associated costs of buying
You can check you financial eligibility with So-Mortgages or Metro Finance.
4. Check your local eligibility
Bracknell Forest, along with most local authorities, operates local eligibility criteria which gives priority to certain households. To fulfil local eligibility requirements:
- at least one buyer must live or work in the area
- MOD personnel may have priority
5. Complete a reservation
To complete a reservation, you must:
- choose a mortgage advisor and solicitor
- provide proof of ID, evidence of deposit and income and local connection to the sales team for sign off
- pay a reservation deposit (if this applies)
Shared Ownership case studies
Garth Hill, Bracknell
1 bed flat
Property worth £260,000 with 35% initial bought share:
- deposit - £8,000
- mortgage - £330
- rent - £370
- service charge - £90
Total monthly cost = £790
2 bed flat
Property worth £325,000 with a 40% initial bought share:
- deposit - £10,000
- mortgage - £598
- rent - £447
- service charge - £113
Total monthly cost = £1,158
Binfield and Crowthorne
3 bed end terrace
Property worth £452,000 with a 40% initial bought share:
- deposit - £9,000
- mortgage - £855
- rent - £725
- service charge - £55
Total monthly cost = £1,635
2 bed semi-detached
Property worth £395,000 with a 40% initial bought share:
- deposit - £7,900
- mortgage - £1,020
- rent - £545
- service charge - £57
Total monthly cost = £1,622
Bracknell Town Centre
1 bed flat
Property worth £255,000 with a 30% initial bought share:
- deposit - £3,800
- mortgage - £490
- rent - £410
- service charge - £155
Total monthly cost = £1,055
2 bed flat
Property worth £325,000 with a 25% initial bought share:
- deposit - £4,000
- mortgage - £520
- rent - £560
- service charge - £155
Total monthly cost = £1,235
More information
You can check what registered providers have available in the borough, including new build and resale homes, on the websites below:
Bracknell Forest Council and BFC My choice do not keep detailed lists of available properties or a register of applicants. However, you may find some adverts for shared ownership units on the BFC My Choice latest news page.
For detailed information about shared ownership, visit shared ownership homes: buying, improving and selling on GOV.UK.