Exeter (01392) 984364   •   Plymouth (01752) 936567   •   Bristol (01172) 872199

What is Shared Ownership?

What is Shared Ownership?

It’s a housing scheme which allows you to buy a share in a home worth between 25% and 75% of the property’s market value and pay a discounted rent on the remaining share owned by the landlord or housing association.

You can increase your share in 10% increments – this is called ‘staircasing’. Increasing your share reduced the amount of rent you pay on the remaining share.

When do I need a valuation?

When you buy an additional percentage, a formal valuation is required. The valuation, undertaken by an RICS registered valuer, will exclude the impact of any home improvements made at the share owner’s expense. This valuation lasts for 3 months – if you want to increase your shares after that period, you would have to renew the valuation unless you got in touch with the valuer within 2 weeks following the 3 months period. If you do this, they can extend the valuation to cover a further 3 months for a smaller fee.

You would also need to get a valuation if you are selling the property. This would include the added value of any improvements made.

If you’d like more information about shared ownership valuations, would like to book one in or have any other questions, please get in touch with us.

Part of Winfields Group Limited.

Bristol Office
13 Harbury Road Henleaze
Bristol BS9 4PN
Tel: 01172 872199

Plymouth Office
91 Mayflower Street
Plymouth PL1 1SB
Tel: 01752 936567

Exeter Office
Unit 2, Alphinbrook Business Centre
Exeter EX2 8QR
Tel: 01392 984364

Office Hours: 09:00 – 18:00 Mon – Fri
Closed Weekends