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Shared Ownership

Shared Ownership is a part-buy / part-rent scheme that enables you to buy a share of a newly built or resale (pre-owned) home more affordably.

With Shared Ownership you buy an initial share between 25% and 75% of the value of the home (we usually set our minimum initial share at 35%, but this can vary and you will buy as large a share as you can afford), we retain the remaining share of the equity, with a subsidised rent payable on our share.

With resales, the share you can buy and the rent payable on the remainder will vary from one property to another as a the share being sold will be dependent on the share owned by the current owner. Resales usually work in exactly the same way as new build Shared Ownership - you buy the share being sold with a deposit and a mortgage, and pay a rent to Metropolitan which is based on the remaining share. If you are buying an apartment, you will also pay a service charge.

When you can afford to, you can increase the share you own through a process known as 'staircasing' - you can do this to the point where you own your home outright.

The combined monthly costs of the rent and the mortgage through Shared Ownership will usually be less than buying a similar property outright or renting one privately.

Who can buy a Shared Ownership home?

To qualify, you must meet the following criteria:

  • Your household income is less than £80,000 per year (outside of London)
  • £90,000 per year (in London)
  • You are a first-time buyer, or a homeowner who needs to move because of a change in your family’s circumstances (in which case you must sell your existing property before being able to buy one of our homes, but speak with one of our sales advisers about this first).

Priority will be given to:

  • Existing social tenants and serving Ministry of Defence personnel 
  • Other locally defined priority groups and first time buyers.

For more detailed information please visit the eligibility criteria page.

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