Shared Ownership is for people who want to own their own home but cannot afford to buy a property outright.
Check out our video below that explains how the scheme works.
Shared ownership is a scheme that allows you to buy a share of your property, usually 40%, and pay a rent on the remaining share. Shared ownership allows you to buy more shares when you can afford to, you can usually increase the shares of your property, (known as staircasing), until you own it outright, but this is entirely up to you.
Alliance Homes offer a range of shared ownership properties across North Somerset, South Gloucestershire, Bristol and Bath and North East Somerset. Click here to view all our available properties.
Who is eligible for shared ownership?
To be eligible for a shared ownership property you must:
- Have a household income of less than £80,000 per annum
- Be unable to afford to buy a property on the open market that meets your housing needs
- Not already own a home, or you will have sold your current home before you complete the purchase
- Have enough money to cover the costs of buying the home i.e legal fees
- Not be in mortgage or rent arrears (at the time of the application, in the past year)