You can get a shared ownership home through a housing association or through us. You buy a share of your home, between 25 per cent and 75 per cent, and pay rent on the rest.
Eligibility
You can buy a home through shared ownership if your household earns £80,000 a year or less and any of the following apply:
- you are a first-time buyer
- you used to own a home, but cannot afford to buy one now
- you are an existing shared owner
How it works
Shared ownership properties are always leasehold. You are responsible for maintenance and upkeep of the property.
Buying more shares
You can buy more of your home after you become the owner. This is known as staircasing.
The cost of your new share will depend on how much your home is worth when you want to buy the share.
It will cost:
- more than your first share if property prices in your area have gone up
- less than your first share if property prices in your area have gone down
The housing association or council will get your property valued and let you know the cost of your new share. You'll have to pay the valuer's fee.
Selling your home
If you own a share of your home, the housing association or council could buy it from you at market value or help you to find a buyer for it.
If you own 100 per cent of your home, you can sell it yourself.
If you are interested in shared ownership in the Harrogate area:
- make sure you have a suitable deposit, usually at least 10% of the amount you want to borrow for your share
- go to see a mortgage advisor to get an independent assessment of your options and a mortgage agreement
- register your interest in shared ownership opportunities with us. contact us.
- keep your eye on our homes for sale page for more details of opportunities in the area
How to apply
Contact us about shared ownership homes in the Harrogate area.
Ministry of Defence priority
Priority will go to serving military personnel and former members of the British Armed Forces discharged in the last two years.