Shared Ownership
A Flexible Way to Step onto the Property Ladder
Shared Ownership with Cornovii Homes is designed to make home ownership more accessible. It’s a part-buy, part-rent scheme that allows you to purchase a share of your home and pay rent on the remaining portion—making it easier to get started with a smaller deposit and lower monthly costs.
Why Choose Shared Ownership?
- Buy a share of your home (typically between 10% and 75%)
- Pay rent on the remaining share at an affordable rate
- Smaller deposit requirements compared to buying outright
- Opportunity to increase your share over time (known as staircasing)
- Live in a high-quality, energy-efficient Cornovii home
Who Is It For?
Shared Ownership is ideal for first-time buyers, key workers, or those who don’t currently own a home and are looking for a more affordable route into home ownership.
How to Apply
To find out more about eligibility, available homes, and how to apply:
- Email us at he***@**************co.uk
- Visit our contact us page
Frequently Asked Questions (FAQs)
Who is eligible for Shared Ownership?
To qualify, you must:
- Be aged 18 or over
- Be a British, EU or EEA citizen
- Have a household income of £80,000 or less
- Be unable to buy a suitable home on the open market
- Not currently own another property
Do I need a mortgage?
Yes, you’ll need a mortgage for the share you’re buying unless you have enough savings to cover it.
Can I increase my share later?
Yes. You can buy more shares over time through staircasing. This gives you the flexibility to own more of your home as your financial situation improves.
Are Shared Ownership homes leasehold?
Yes, all Shared Ownership homes are leasehold. Your lease will outline your rights and responsibilities, including rent, service charges, and buildings insurance.
Can I decorate or make changes to my home?
You can usually make small, non-permanent changes without permission. For larger or structural changes, you’ll need to request permission