Moving home part 2: private rental and shared ownership

Your home

In our last edition of Home magazine we looked at the various moving options available to you if you are a general needs or social rent tenant. Here we will consider how you can move to a private rental property or purchase shared ownership.

Private rental properties

We have more than 1,000 quality homes for rent across London, Bristol, Oxford and Southern England. These range from high-end, penthouse apartments and studio apartments, to 3-bedroom houses in more rural locations. They’ve all been built close to transport, and just a short walk from shopping, social or business hubs.

Who’s eligible?

Our private rental properties are open to everyone, subject to reference and financial checks. We also offer flexible tenancy terms in case that suits you better.

Where can I find properties?

You can find more information on our private rental property types and locations on our website. The properties are advertised on Rightmove and Zoopla, so check those out too.  

How can I find out more?

If you’d like to speak to us to discuss the availability of our properties or have any questions about private rent, please get in touch with our Lettings team on 0208 825 1918 or via email.

Shared ownership

Shared ownership is a great way to get your foot on the property ladder and offers a range of benefits.

How does it work?

With a shared ownership property, you can buy a share of your home and rent the rest from us. You’ll need to apply for a mortgage to pay for the share you want to buy, and each month you’ll pay your mortgage for the portion you own and rent for the part that you rent.

If you decide to sell, you’ll get market value for the share that you own. And you can increase the share you own at any time, which is called staircasing.

Who’s eligible?

You should be able to buy a shared ownership property if you:

  • Earn between £30,000 and £80,000 a year (£90,000 in London) as a household
  • Have never bought a home before, or can’t afford to buy one now, or you’re currently a shared owner
  • Have enough savings to cover a deposit and around £4,000 for fees including legal costs, stamp duty, survey fees, etc.

Why is it a good option?

Shared ownership is a good option to consider because you can:

  • Buy with a smaller deposit, since you only need to get a mortgage for the share you want to buy. Your deposit will still be 10% but only 10% of the value of your share, rather than 10% of the value of the whole property.
  • Get on the property ladder more easily or sooner because what you pay each month for shared ownership often works out similar to what you’d pay renting. Plus, if your property increases in value, the value of your share will be higher when you sell.

How can I get a shared ownership property?

If you’re interested in finding out more about shared ownership, contact us so we can put you in touch with an independent financial adviser. The adviser will help you consider whether a shared ownership home is the right choice for you. You might also choose to speak to a local Help to Buy adviser about shared ownership schemes. You can find our shared ownership homes on our website.

Where can I get more information?

You can find useful information on our website about a range of topics including: