Buying a home with shared ownership

Struggling to get on the housing ladder? Eastlight is committed to helping people own their homes. Our part-buy part-rent homes are an affordable alternative to buying on the open market.

Man and woman looking at a phone
What is shared ownership?

The scheme means you can buy a share of the property with a mortgage and then pay rent on the remaining part.

You can purchase extra shares when your income allows – this is called ‘staircasing.’ 

Recent changes to the shared ownership model means you can buy an initial share as low as ten per cent.

But some homes are still under the previous model meaning the lowest initial share is 25 per cent.

This depends on when the development was first in contract.

Am I eligible?

You may be eligible if your household income is less than £80,000 a year, you have some funds for a deposit and legal fees but not enough money to own a home outright. 

You cannot be listed on the deeds of another home and qualify for shared ownership.

An approved Help to Buy application is also required.

If you would like to discuss your eligibility further please contact shared.ownership@eastlighthomes.co.uk.

How do I apply?

After you have been approved with Help to Buy, you can apply for Shared Ownership here.

What if I change homes and there is a problem?

Any defect issues should be reported to our customer services by emailing customer.servcies@eastlighthomes.co.uk or calling 0330 128 0330 (local rate).

And end of year defect inspection will also be arranged. Further information on this will be discussed upon viewing and completion on the home.

Can I sell my shared ownership home?

If you wish to sell, contact us and we will be able to advertise your property on the Help to Buy website. If it remains unsold for eight weeks then it can go onto the open market.