Formerly Shared Ownership on the Help to Buy Scheme-how can it help you get on the property ladder?

Formerly Shared Ownership on the Help to Buy Scheme-how can it help you get on the property ladder?

The Share to Buy scheme, formerly known as Shared Ownership, has become increasingly popular among property buyers in the UK. The scheme allows people to purchase a share of a property and pay rent on the remaining share, which is owned by a housing association or a private developer. Sandersons UK currently have properties for sale on the scheme.

The Share to Buy scheme is designed to help people who cannot afford to buy a property outright, but want to get onto the property ladder. It is a good option for first-time buyers, key workers, and people on low to moderate incomes. The scheme also allows people to buy a bigger property than they would otherwise be able to afford.

How does the Share to Buy scheme work?

Under the Share to Buy scheme, you purchase a share of the property, usually between 25% and 75%. The share you purchase is based on what you can afford to buy and what is available. You will need to take out a mortgage to pay for your share, and you will need to pay rent on the remaining share.

The rent you pay is usually set at around 2.75% of the value of the share you do not own. This means that if you own a 50% share of a property worth £200,000, you will pay rent on the remaining 50% share, which is worth £100,000. Your rent would be around £229 per month.

You may also need to pay a service charge, which covers the cost of maintaining and repairing the property. The service charge varies depending on the property and the location.

The benefits of the Share to Buy scheme

The Share to Buy scheme has several benefits for property buyers. The scheme allows people to get onto the property ladder who might not be able to afford to buy a property outright. It also allows people to buy a bigger property than they would otherwise be able to afford.

Another benefit of the Share to Buy scheme is that it is a way to build up equity in a property. As you pay off your mortgage and increase your share in the property, you can eventually own the property outright.
The scheme is also flexible. You can usually sell your share in the property at any time, and you can also increase your share in the property by buying more shares. This means that you can gradually increase your ownership of the property over time- this process is called Staircasing.

The Share to Buy scheme is also a good option for key workers, such as nurses and teachers, who may struggle to afford to buy a property in the area where they work. Many housing associations and private developers offer properties under the scheme specifically for key workers.

How to apply for the Share to Buy scheme


Most of the housing associations are now advertising on sharetobuy.com and have amended their own application forms. This is to ensure any applicants are confirming that their household income doesn't exceed £80k and to disclose their local connection to the area that they are applying to buy incase there is local connection requirement for the housing.

You will need to apply directly to each Housing Association if you are interested in one of their properties. Once you have registered, you will then be transferred to the agent advertising the property or will need to contact them about the property of interest. The agent will assess your eligibility for the scheme and provide guidance on the process of purchasing a share of the property. It is important to have a good understanding of your finances and budget before applying, as well as to consider the ongoing costs of homeownership. With careful consideration and planning, the Share to Buy scheme can be a great way to get onto the property ladder and own a share of your own home.

Properties available on the Share to Buy Scheme with Sandersons UK

To see what properties we have available on Share to Buy, click on the links below and the site plan for our dedicated development microsite;










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