Shared Ownership housing

To be eligible you must:

• be (or have previously been) living in a ‘tied’ house
• have at least 5 years stipendiary service by the time you retire
• have enough savings to buy a minimum of a 25% share of a property
• have enough savings to cover the legal fees for a purchase; approximately £4000
• be able to pay for any building work the property may need before you move in; and
• be able to afford to live in your home long-term.

• Once you have got in touch with us and we have confirmed you are eligible, we will get in touch with you to talk you through how the scheme works
• If you feel the scheme is for you, we will ask you to start searching for a suitable house or flat using estate agents, at least 12 months before your planned retirement date
• We can only consider properties that are well built and maintained and that will be suitable throughout your retirement.  Properties can have up to two reception rooms and three bedrooms and there are some overall size limits
• More details on the types of properties we will consider under shared ownership can be found in Your Guide to Shared Ownership (below)
• Once you find a suitable house or flat we will ask you to share the details with our Housing Team, who will negotiate the price and make an offer to the seller.  If the offer is accepted, we will then manage the purchase through our solicitors
• You will appoint your own solicitor to manage your side of the purchase.  The buying process is not always straightforward, but a member of the team will be on hand to support you through it.

Once in the property, you will pay a monthly rent for the share we own, the buildings insurance and an administration fee, which are reviewed annually. 

If your home is a flat, you may also need to pay an additional monthly service charge which we will then pay to your managing agent. 

You would also need to pay for contents insurance, full maintenance costs and all utility and council tax bills.