Busting Shared Ownership Myths
Are you thinking of buying with Shared Ownership? We're here to debunk the myths around Shared Ownership, so you can feel confident moving forward.
Myth 1: I’m not eligible as I own/have owned a property before.
You won’t be able to purchase a second home via Shared Ownership, but you can buy a new home if you previously owned, or are currently selling a property.
Myth 2: I can’t buy more shares further on.
You absolutely can. Buying more shares in your home is called staircasing. You can staircase whenever you like, for example you might have the opportunity when you're re-mortgaging.
Myth 3: I can't sell my Shared Ownership home.
There is nothing stopping you from selling your Shared Ownership home if you decide that’s the right thing to do for you. You’ll just have to let us know first, as we’ll exclusively market your property for you for a number of weeks.
Myth 4: I have to share my Shared Ownership home with someone.
Contrary to the “shared” in Shared Ownership, you don’t have to live with anyone else unless you want to. But should you wish to, up to four people can buy a Shared Ownership home together.
Myth 5: I can't decorate or make any home improvements to my Shared Ownership home.
We know a house is not a home unless you make it yours, and you can absolutely put your stamp on your new home with us. You can paint, decorate and refurbish your home just like any other homeowner.
You'd just need to ask us if you wanted to make any home improvements that might affect the value of your home.
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