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 or
eventually own your home outright. If you want more
information on applying for a Shared Ownership property, please
contact us.
How Does Shared Ownership Work?
You buy a share in a home and pay rent on the balance to the
Company (Purbeck Housing Trust). The Company will keep
ownership of the part you do not buy. In most cases you
can buy between 25% and 75% shares. 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 a flat you will usually be granted a 66 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 charge.
Wanting To Apply For Shared
Ownership
Current Developments