Shared Ownership

What is Shared Ownership?

Shared Ownership is a type of affordable housing where you buy a share of a property with a mortgage or savings and then pay rent on the remaining part.

You can purchase extra shares of your property when your income allows, this is called staircasing. You may be able to purchase 100% of the property.

The lowest initial share you can purchase is between 10% and 25% depending on the lease model. 

You may be eligible for a Shared Ownership home if your household income is less than £80,000 a year and you are not able to afford a home on the open market.

You can find more information about Shared Ownership homes, including full eligibility details, on the Government's Shared Ownership webpage.

Our Shared Ownership official process document contains full details of the Council's processes for Shared Ownership including initial sales, reservations, allocations, and affordability criteria.

 

Where can I find Shared Ownership homes for sale?

You can find details of all our available Shared Ownership homes through our sales agent.

How to contact our sales agent:

      William H Brown – Stowmarket

      Phone: 01449 614459

      Email: email WH Brown Stowmarket

 

      William H Brown – Sudbury

      Phone: 01787 379372

      Email: email WH Brown Sudbury

Not all Shared Ownership homes are provided through the Council. Registered Providers of affordable homes also offer Shared Ownership homes throughout Suffolk. You can find details of those providers in our area on the Government ‘s Shared Ownership website.

 

I want to sell my Shared Ownership home, how do I do this?

If you wish to sell your share of your Shared Ownership home, you can do so at any time but you must inform us first. You can find more information about how to sell your home including what costs are involved in our Selling your Shared Ownership Home information sheet.

 

How do I buy more shares in my Shared Ownership home?

If you would like to buy more shares of your Shared Ownership home, known as staircasing, you will need to notify us by completing the Staircasing Application Form.

You can download a copy of the staircasing application form or contact us to request a copy in other formats.

You can find more information about how to staircase including what costs are involved in our Shared Ownership Staircasing information sheet.

 

What is the Council's Affordability Criteria for Shared Ownership?

We are required to confirm that applicants for Shared Ownership meet the eligibility and affordability criteria of the scheme. These checks are made through an affordability assessment completed as part of the application process.

Full details of our affordability criteria can be found in our Shared Ownership Affordability Criteria document.

 

I have a question about my Shared Ownership home?

If you have any questions about rent or service charges for your Shared Ownership home, please contact our Home Ownership team:

How to contact our Home Ownership team:

      Email: Email the Housing Ownership Team

      Phone: 0300 123 4000

 

If you have any questions about staircasing or selling your Shared Ownership home, please contact our Shared Ownership Sales team:

How to contact our Shared Ownership Sales team:

      Email: Email the Shared Ownership Sales Team

      Phone: 0300 123 4000