The right to shared ownership

This is a very specific scheme, not ordinary shared ownership. Since 2023, some of our properties have been built with ‘Right to Shared Ownership’ (RtSO). This ‘right’ is linked to the type of grant funding used to build them.

RtSO means there is an opportunity to buy part of that home and become a shared owner on the new shared ownership scheme.

This new scheme has benefits that include letting shared owners buy a smaller share of their home (10%), staircase as little as 1% for the first 15 years and claim back some repairs costs if you live in the property for the first ten years of its life. Find out more in the government guide to The Right to Shared Ownership.

Am I eligible for the Right to Shared Ownership scheme?

You’ll be told if your property has RtSO when you move in – RtSO is linked to the property, not your tenancy, so if you move, you won’t take the ‘right’ with you.

To be eligible for the Right to Shared Ownership, you must be the tenant of a housing association (or tenant of another Registered Provider of social housing that is not a local authority, co-operative housing association, or Community Land Trust).

The Right to Shared Ownership does not apply to homes in remote rural areas, or specialist homes for older people or people with disabilities.

If you want to take advantage of your property’s RtSO, you need to:

• be living in a property that was built after 2021 using Government grant and is eligible for the scheme.
• be living in the property with RtSO for at least 12 months
• have it as your only home
• have been a tenant of social and/or affordable housing for at least three years (this need not be for three years consecutively or with the same landlord)
• meet the eligibility criteria to purchase a share of your home, including its income threshold of a gross annual household income of £80,000 or less when buying outside of London.

Using the Right to Shared Ownership to purchase a share in your current home is a financial commitment. For example, you may lose your home and the money you put into it if you do not pay your rent. Therefore, we recommend that you read The Right to Shared Ownership: A guide for tenants and advise that you seek professional financial and/or legal advice before applying.

You’ll need to consider carefully if becoming a shared owner is the right thing for you – there isn’t a specific route back to being a social-rented tenant.

For more information on The Right to Shared Ownership, please get in touch.

How Shared Ownership works

An opportunity to buy the home that’s right for you without needing the large deposit or the mortgage that goes with it