How Shared Ownership is taking over the London housing market

Moving house is an exciting time, and when you find your dream home, it’s even more exciting. That’s why many turn to sites like to sell their house quickly – they just can’t wait to move out of their old house and into their new one! However, moving house is not easy. It’s expensive, especially in global cities like London. With the London housing market well known for its high prices, overseas buyers and difficult deposits, shared ownership is a government scheme trying to change that. Having seen growing popularity over recent years and even more so since the pandemic, shared ownership may be your ticket onto the property ladder in London.

What is Shared Ownership?

Shared ownership essentially allows you to buy a share in a property while renting the rest from a non-profit housing association. As you only have to buy a share in the property, this means you only have to put down a deposit on the share you want to own. With shares available between 10% and 75%, you can put down a deposit that could take you less than months to save for while moving into a brand new home in the perfect London suburb. You will also not have to apply for a massive mortgage as this only needs to be equal to the share you wish to buy. This reduction in deposit, smaller mortgage and sought after London location makes shared ownership a very appealing deal and is certainly making waves amongst first time buyers. And with the opportunity to buy more of your property overtime and increase your shares you can eventually own the entire property at a pace that suits you.

Where is Shared Ownership located

These homes are often new builds or renovated courts, terraces or mansions and come with bespoke contemporary interior design and some lavish London views with balconies to enjoy. Many of these homes are ideal for first time buyers with great commuter facilities and transport links like shared ownership homes in Dartford that link you both to Ebbsfleet international as well as the centre of London. The suburbs of London are quickly becoming a young professional haven with regenerated areas benefiting from the new cross rail service and the plethora of new business opportunities offered here. From shared ownership apartments in West London to shared ownership homes in Essex, you can find exactly what you need with the scheme. With bigger family homes available surrounded by green space as well as sky high city apartments in Canary Wharf, shared ownership is a great way to tick the boxes for you and your family.

To what extent does Shared Ownership permit homeowners to make improvements to their homes?

Shared Ownership can indeed facilitate home improvement, offering an avenue for individuals to enhance their living spaces within the parameters of the shared ownership agreement. Typically, under shared ownership, individuals purchase a percentage of the property and pay rent on the remaining portion owned by a housing association. The ability to make home improvements often depends on the specific terms outlined in the shared ownership contract and the housing association’s policies. Generally, residents are allowed to make certain modifications, such as interior renovations and decor changes, without requiring explicit permission.

Major structural alterations or external modifications may necessitate approval from the housing association. Homeowners should communicate with the housing association to understand the guidelines, ensuring that proposed improvements comply with the shared ownership terms.

For example, consider the scenario of a homeowner in a shared ownership property who wishes to add beautiful wooden porches to their home. The desire to create an inviting outdoor space might be entirely feasible within the shared ownership framework. Typically, the construction of a wooden porch would be categorized as a major external modification, requiring approval from the housing association.

In this case, the homeowner would need to initiate a dialogue with the housing association, presenting their plans and seeking permission for the addition. If the proposed wooden porch aligns with the guidelines set forth in the shared ownership agreement and complies with the housing association’s policies, approval may be granted.

Who provides shared ownership

While there are many housing associations out there that offer the scheme, finding portals that showcase these apartments and houses is also incredibly easy. is a great place to find your dream property with some spacious shared ownership homes in Surbiton available closeby to Kingston-upon-Thames. The scheme is government run, so you can find plenty of information on the government website to ensure you get all the ins and outs of the options shared ownership provides. As many of the housing associations that offer shared ownership are non-profit organisations, you can also rest assured you will be paying very little rent for the portion you don’t own and repairs and maintenance are down to them for the first 10 years.

So whether you are looking to move to London quickly for a new job opportunity or simply planning for your future, keep shared ownership in mind and it may save you some money and time.