What is shared ownership?
Shared ownership is a national scheme that helps you to buy your dream home! Start by buying between 10% and 75% of your home and paying an affordable rent on the rest. Buy more when you can. This means a smaller deposit, smaller mortgage repayments and the flexibility to increase your shares whenever you're ready.
You could be eligible for shared ownership if you:
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have a household income of under £80,000;
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own no other property in the UK or overseas;
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have a good credit history and can afford the cost and regular payments involved in buying a home; and
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have savings of at least 5-10% deposit on the share of the property that you are buying.
Shared ownership means:
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your monthly repayments could be less than renting privately;
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the deposit required is smaller as you are only buying a share of the property;
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you can purchase further shares (known as staircasing) in the property until you own it outright (in most cases);
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you are able to take the first step onto the property ladder.
Shared ownership does not mean:
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living with a stranger;
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you can't sell your home;
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living in an undesirable area; or
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you can't make your house your own.
See our homes
Looking for your perfect place to call home? Whether it's a stunning new build, a home in your chosen area, or a resale home, we’ve got options to suit every customer. Choose how you’d like to search from the options below and take the next step toward owning your own home.
Our developments
We have a range of beautiful shared ownership developments across Yorkshire.
Ready to find your dream home?
Use our Property Search to see all our homes.
Our pre-loved homes
We have a lovely range of pre-loved homes available for resale across Yorkshire.
Shared ownership frequently asked questions
Below is an example of a total monthly payment under our shared ownership scheme.
| Item | Cost |
| Full house price | £155,000 |
| 50% share | £77,500 |
| Monthly mortgage payments * | £435.32 |
| Rent and charges ** | £177.60 |
| Total monthly payment | £621.92 |
* Monthly mortgage payment based on a 25-year mortgage at 5% interest rate (interest rates may vary) with a 5% deposit paid.
** Rent and charges reviewed annually.
The minimum deposit needed for a home on the shared ownership scheme varies, it is usually between 5-10% of the share of the property that you are buying. The minimum deposit we will accept is £4,000.
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A £200 reservation fee.
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Legal fees.
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Mortgage application fees.
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Mortgage payments.
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Rent and service charges including buildings insurance.
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Stamp duty.
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Mortgage protection insurance.
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Contents insurance.
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Repairs and maintenance after the builders guarantee period.
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Council tax.
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Household bills.
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Carpets and furniture.
If a shared ownership applicant does not meet one or more of the eligibility criteria for the shared ownership scheme, is unable to meet the requirements of the affordability assessment, is unable to meet one or more of Vico Homes policies in this regard, or if they are unable or unwilling to provide the required information or documentation their application will likely be declined.
If a shared ownership applicant wishes to purchase a different share level, either higher or lower, to that deemed affordable by their affordability assessment without providing a justifiable rationale or reason why. We will either offer a different share level or decline the application.
You can buy further shares in your home at any time. This process is called staircasing and can be as little as 1% meaning the cost of purchasing 100% of your home can be spread out affordably.
To see our staircasing page click here.
To see our staircasing brochure click here
You can sell your shared ownership home at any time.
Firstly, you’d contact us to confirm that you are selling your share. We'll even help you to sell your home and will appoint a dedicated sales advisor who will guide you through the process. If the market value of the property has increased both ourselves and you, as the owner, will benefit from any profit. If it has decreased, both parties will stand the loss. If the seller decides to accept a lower amount of the current market value, they have to accept the full loss themselves.
View our steps to resale guide.
Please visit our making changes to your home page for further information.
If you are on the shared ownership scheme, you must occupy the home. You cannot sublet your home to anyone else.
A copy of the procedures for shared ownership will be given to you at the initial completion of the sale and your solicitor will also provide you with a copy of the lease.
If you'd like more information please visit Government website. If you have any questions our Sales Team will be happy to help. You can email the team at [email protected] or call 01977 788830.
How to apply
You can check whether you qualify for shared ownership on the gov.uk website or you can contact our Sales Team who will signpost you to an Independent Financial Advisor (IFA).
The IFA will ask some questions to check whether you qualify for shared ownership. The IFA will also provide mortgage advice to support you on your shared ownership journey.
It is important to understand that mortage advice does not guarantee a mortgage offer and every case is different depending on your individual circumstances.
Before speaking to the IFA you need to prepare some documents so they can provide clear and accurate financial advice. Click here to see the documents you will need.
Once you are ready to reserve you can contact Metro Finance by calling 0114 270 1444 or visiting the Metro Finance Website
Once you have received a Mortgage in Principle please contact us and we will help to guide you through your shared ownership journey.
Shared ownership policies
First Come, First Served Policy
Monthly Minimum Surplus Income Policy
Minimum Deposit Policy
Adverse Credit Policy
Key information documents, what are they?
On all our home adverts you will see links to key information documents. These documents provide information about shared ownership and are unique to every home we sell.
The three main documents you will see, during your buying journey, are listed below.
KID 1. Key information about the shared ownership home (Available on all adverts)
KID 2. Summary of costs about the shared ownership home (Provided by the Sales Advisor during reservation)
KID 3. Key information about shared ownership (Provided by the Sales Advisor during reservation)
The documents provide key information about every home and are designed for customers to have a full understanding of the costs involved and the terms and conditions of buying with us. They will include information about the lease for the home, the address, the price and further monthly costs.
We recommend you read the key information document attached to the advert of the home you are interested in, before contacting your financial advisor.
Key information document 1
Key information document 2
Key information document 3
Already a shared owner?
Find answers to frequently asked questions and read our New Home User Guide.