Shared Ownership

Shared ownership is an affordable way of getting on the property ladder. The part buy, part rent scheme allows people to purchase in a new home in Tower Hamlets, an area which buyers may be priced out of on the open market.

Find all the information you need about shared ownership homes including our developments and how you can register.

Shared ownership explained

How it works

  • Step 1: Find a property you like and register your interest.
  • Step 2: We will send you details along with information on how to get financially assessed.
  • Step 3: Once your affordability is confirmed, we will arrange a viewing of the property for you.
  • Step 4: If you like the property, you can reserve it by paying a reservation fee of £500.
  • Step 5: You’ll need to complete the sales pack sent to you once you’ve made a reservation.
  • Step 6: By now you’ll have your mortgage & solicitors arranged. They do their bit to turn a property into your new home.
  • Step 7: Exchange contracts and arrange a completion date.
  • Step 8: Completion day – pick up the keys to your new home!

The Poplar HARCA sales team are on hand throughout the process to guide you and answer any questions you may have. We suggest you seek professional advice from a financial advisor to help you find a mortgage, as well as solicitors, to help you with the legal side of things.

We will also be there on your completion day to give you the grand tour of your new home and go through all the important things you’ll need to know when you’re a home owner.

The Benefits

  • The monthly cost of shared ownership is often less than the cost of buying the same home outright or renting it privately.
  • You only pay a 5% deposit on the share you buy, which means a smaller outlay to get that first step on the property ladder. For a 25% share, this is often less than £8,000.
  • Buying a new home through shared ownership allows you to buy chain-free and you’ll benefit from a 10 year build warranty. On re-sale homes the build warranty will differ depending on the length of time the current Leaseholder has lived there.
  • New homes are ready to move into with a great specification and better energy efficiency than older properties.
  • You can buy further shares in your home, this is called staircasing. You can staircase as and when you can afford to. You can eventually own 100% of your property if you wish to.

The Costs


  • This is often just 5% of the share value you are purchasing. Your deposit may vary based on your personal circumstances.
  • For example, if you’re buying a 25% share of a property with a full value of £350,000, the value of your share will be £87,500. If a 5% deposit was required, you would need to put down a deposit of just £4,375.

Solicitor fees

  • You will need a solicitor or licensed conveyance professional to carry out the necessary legal work. Solicitors’ fees are usually on a fixed cost basis and the solicitors on our mortgage panel will be happy to give you a quote.

Mortgage broker fees

  • Most mortgage brokers will charge a fee for their services and these can vary from a fixed amount to a percentage of the purchase price. A mortgage broker should explain clearly what fees are charged and when, before they undertake any work on your behalf.

Other moving costs

  • Other costs may be incurred, such as removal costs but these can vary widely. Housing associations recommend that you have between £3,000 and £5,000 in hand to cover all the fees and costs of moving, which includes the solicitors and broker fees.

Monthly costs

With the exception of utility bills and council tax, the monthly costs you can expect to pay for your home include:

  • Mortgage: Your mortgage is the loan you use to buy a property. When you buy a home, you’ll put down a cash deposit and pay for the rest using a mortgage from a bank or building society. You pay the mortgage, plus interest back, in monthly installments agreed with your bank or building society, over a set number of years.
  • Rent: This is usually set around 2.75% of the unsold equity. So, if you wanted to buy a 25% share in a property worth £350,000, the equity you would pay rent on is £262,500. If you multiply by 2.75% (rent %) and divide by 12, you will get the total rent payable per month. The amount of rent will vary for each home depending on the share you buy, and the value of your property when you buy it.

Service Charge

  • Service charges are payments made by homeowners to the housing association for the services they provide. The charges include maintenance and repairs to common parts, insurance of the building and, in some cases, provision of lifts, lighting, communal aerials, door entry systems, cleaning of common areas and grounds maintenance. Usually the charges will also include the costs of management.
  • Service charges can vary from year to year; they can go up or down without any limit, relative to the services provided and the building. Details of what can and can’t be charged by the landlord and the proportion of the charge to be paid by the individual homeowner will all be set out in your lease.


  • Buildings insurance is covered as part of the service charge. We strongly recommend getting contents insurance too, which covers damages to your furniture, carpets, white goods and personal belongings. Contents insurance is the responsibility of the person living in the property – it is not compulsory, but it is advisable.

To apply for a shared ownership scheme, register your details with us. We will then be in touch to assess your eligibility for the scheme, and discuss the application process with you.

New Developments

Jolles House


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Landmark Pinnacle

INCENTIVES AVAILABLE - GET IN TOUCH TO FIND OUT MORE! Landmark Pinnacle is London's newest landmark. In the heart of…

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Coming Soon

Stone Studios

Four new homes available for Shared Ownership just moments from Hackney Wick Station. Launching early 2021. Register your interest today.

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Resale Properties

Engine House - 1 Bed First Floor Resale

25% Share Available (£95,000) FMV - £380,000 | £95,000

This stunning first floor one bedroom apartment forms part of Engine House, a modern development right next to Langdon Park DLR station. The apartment comprises of a spacious and welcoming hallway with ample room for a desk to suit the needs of those working from home. The kitchen is complete with integrated SMEG appliances, silestone worktops and Urban Myth matt stone grey units. The living area is flooded with natural light from the floor to ceiling windows leading out to the balcony. The bedroom has a built in wardrobe, there is underfloor heating throughout as well as fitted blinds. The bathroom suite is ultra-modern and boasts plenty of hidden storage.

The development is located just 4 stops from both Canary Wharf and Stratford and Chrisp Street Market is less than a 5 minute walk away. The development has secure basement bicycle storage.

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Coppers House - 1 Bed Fourth Floor Resale

25% Share Available (£97,500) FMV - £390,000 | £97,500

Forming part of the Aberfeldy Village development this 4th floor apartment is an ideal first time buy.

The apartment comprises of a beautifully modern white gloss kitchen with integrated Bosch appliances, composite stone worktop and under cabinet lighting. The spacious living area boasts room for a dining table as well as space for a workspace area. There are dual aspect windows to flood the room with light as well as access to the winter garden that can be used all year round with its foldable glass panels. The bedroom has floor to ceiling windows as well as a built in wardrobe. The bathroom is contemporary and benefits from chrome sanitary ware and a mirrored wall cabinet. In the hallway there is also a large utility cupboard complete with washer dryer.

The development itself is beautifully designed with a linear park running through the middle. Residents also benefit from concierge, residents gym and a residents lounge.

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Thimble Court - 1 Bed Ground Floor Resale

25% Share Available (£96,250) FMV - £385,000 | £96,250

Forming part of the Thimble Court development, this ground floor apartment is perfectly located in the heart of Bow.

The kitchen is modern and beautifully finished with handle-less units, Strombolian dark worktop as well as a built-in oven, hob, microwave and white appliances. The living area benefits from lots of natural light and has ample room for a dining table and cosy seating area. The bathroom boasts a contemporary white suite with a driftwood countertop, chrome sanitary ware, full height mirror, cabinet and is finished with natural porcelain stoneware to the wall and floor area. The bedroom is light and spacious with a floor to ceiling window and ample room for storage. The hallway has a large storage cupboard/utility room. Looking over the communal gardens, this apartment is peaceful and tranquil, making it an ideal first home.

Externally the property has a well-maintained private communal garden and access to secure internal bike storage.

A stone's throw from all the leafy green spaces on offer including Tower Hamlets Cemetery Park, Mile End Park and the beautiful Victoria Park
The property is conveniently located within walking distance of Mile End Underground Station and the DLR. You can be in the heart of the financial district at Liverpool Street in just 6 minutes. Oxford Circus is only 25 minutes away and you’ll find Canary Wharf, Shoreditch and the South Bank all easy to get to. There’s an international rail terminus at Stratford, an international airport at London City and the road links from Bow take you quickly to the M25 and the nation’s motorway network. In fact, wherever you’re going, Bow is the perfect starting point.

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Case Studies