Shared Ownership

Shared ownership is a combination of buying and renting and is aimed at people who want to buy their own home but cannot afford a full mortgage at present.  The intention is that they buy an initial share in the property with the option of increasing their share until they own it outright.  The remaining share of the property is rented from Trust Housing Association (Wishaw & District Housing) under an Occupancy Agreement for a 20 year period.  

Purchasing Additional Shares

Once you have been a sharing owner for 12 months, you have the option of purchasing more shares in your home, or if you are financially able, you can buy the property outright.  This is known as Staircasing.

You can buy shares of 25% and there is no limit to how many additional shares you buy in one transaction.  The monthly occupancy charge you pay will reduce to reflect the smaller share you then rent from Trust Housing Association (Wishaw & District Housing).  The price of the additional shares will be based on the market value of the property at the time and will be set by an independent valuation surveyor.

If you are thinking of purchasing more shares in your property, you can contact Alan Richardson, our Owners' Services Officer

Selling Shares

If you are thinking of moving home and selling your share, please contact Alan Richardson, our Owners' Services Officer for more information on the sales process.