Shared Ownership: Pros and Cons for Homebuyers

There is no minimum income requirement for Shared Ownership. You can be eligible as long as your household income is under the threshold.

Yes, you may still have to pay Stamp Duty with Shared Ownership if the cost of the property is over the threshold.

There are two options when you buy a Shared Ownership property. You can either pay SDLT on the initial share you purchase, or you can pay on the full value of the property.

As with normal properties, you will need to pay a deposit on a Shared Ownership property. This is usually between 5% and 10% of the share you are buying.

You are able to decorate a Shared Ownership house however you’d like, such as painting and putting up shelves. You may, however,  need to gain written permission from your landlord before you make any structural changes.