Shared Ownership

Wondering if Shared Ownership is right for you?

Shared Ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. There are many benefits to buying a home with the Shared Ownership scheme. If you are unable to raise a large enough mortgage to buy a home, or perhaps you have a good income but not enough deposit, or just find that homes in the area you want to live are simply out of reach, Shared Ownership could be your answer.

At Optivo our range of homes available with Shared Ownership include something for everyone, from quiet countryside homes to contemporary city centre apartments. You won’t be able to buy just any home with Shared Ownership but there is plenty of choice in hotspots across the country which are either new or existing homes, known as ‘resales’.

You’ll start by buying from 25% up to 75% of a home, and pay a subsidised rent on the remaining part you don’t buy from us. The bit you own is called a share (don’t worry, it’s not called Shared Ownership because you HAVE to share with someone, unless you want to of course!)

For example, if you buy 40% of a home valued £300,000, you’ll typically need a 5% deposit of £6,000, get a mortgage for the rest of the share value, and pay rent on the remaining 60%.

In the future, whenever you can afford to do so, you can buy more shares to increase what percentage you own, right up to 100%. This is called staircasing. The more you own, the less rent you’ll pay.

And if or when you come to sell, we have a team on hand to help you with this part of your journey with Optivo.

So, if you don’t currently own a home, your household income is less than £80,000, or £90,000 if looking to buy in London, and you have savings to cover your deposit and standard buying fees, Shared Ownership with Optivo could be what you’re looking for.