Looking for help to buy? Shared Ownership could be the answer

Grey Living Room, Bookshelf, Grey Sofa, Coffee Table
Home Reach avatar

Home Reach in Announcements · Mon Jun 05 2023 ·

We know purchasing a home can be an exciting, but sometimes daunting experience, especially for first-time buyers. The Help to Buy scheme had been a popular option for many hoping to get on the property ladder, but, now the scheme has come to an end, you may be exploring other affordable routes to home-ownership.

Home Reach is a Shared Ownership scheme offered on new builds across the country and we’re committed to making housing across the UK more affordable and accessible for homeowners. So, Shared Ownership could be the answer if you’re on the hunt for a home…

What is Shared Ownership?

Shared Ownership is a government-backed initiative that allows first-time buyers and those with lower incomes to purchase a share of a property, up to 75%, while paying rent on the remaining share. You only require a 5% deposit and mortgage for the share you purchase, helping to reduce the amount of savings and monthly income that you would need to buy a similar home on the open market.


Many first-time buyers find Shared Ownership to be a great option, as it is often more affordable than buying on the open market. We know that with the rising costs of properties, and stricter lending criteria from mortgage lenders, many first-time buyers struggle to save for a hefty deposit and qualify for a mortgage.

Shared Ownership means you only require a mortgage to cover the share that you’re purchasing, and the same goes for your deposit. This can really help to reduce the upfront costs, making it more feasible for you to take that step onto the property ladder.


As you’ll only purchases a share of the property to begin with, you have the flexibility to buy additional shares over time. This is a process known as ‘staircasing’ – where you increase your ownership in the property and build equity. You can staircase all the way up to 100% - then you own your home outright and no longer pay rent. So, the more you own, the less rent you pay. Staircasing can be done in stages, making it a really flexible option.

Desirable Locations at an Affordable Price point

Shared Ownership provides you with the opportunity to live in a location that could otherwise be too expensive to buy. This can be especially beneficial if you want to live close to your place of work, family, or even the best cafes, bars, restaurants and transport links!

Home Reach offers Shared Ownership properties throughout the UK, from Preston to Bristol, giving you the benefits of living in a sought-after area but without the premium price tag.

Added Support

You will be offered support and guidance throughout the buying process, including assistance with the application process and ongoing management of the property, which can provide peace of mind if you need that extra bit of support!

At Home Reach, we offer a variety of Shared Ownership homes across the UK - find out more about our available homes here.