Shared Ownership
What Is Shared Ownership?
Shared Ownership was introduced to help people who cannot afford
to buy a home outright. Through Shared Ownership you buy a
share of the property and pay rent on the remaining share, which
you do not own. Gradually you may buy further shares and
eventually own your home outright. If you want more
information on applying for Shared Ownership property, please contact us.
How Does Shared Ownership Work?
You buy a shared in the home and pay rent on the balance to the
Company (East Dorset Housing Association). The Company will
keep ownership of the part you do not buy. In most cases you
can buy between 25% and 75% share. However the higher the
share you purchase the less rent you pay. The share you
purchase will be funded by a mortgage which needs to be arranged
through a Bank or Building Society. Whether you buy a house
or flat you will usually be granted a 99 year lease. It will
entitle you to buy further shares or sell your property and will
set out your responsibility for repairs and payment of rent and
service charges.
Wanting to Apply For Shared Ownership
Current Developments