Shared Ownership

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We offer Shared Ownership homes in East London.

Want to become a homeowner but finding it unaffordable in London? Shared ownership is a great way to get on the housing ladder.

What is it?

Shared ownership is a ‘part-buy, part-rent’ scheme, because you buy a share in the full market value of the home and pay rent on the remainder.

You can buy a share in a new or previously owned home (minimum 25% share up to a maximum 75% share) and pay us a subsidised rent on the remaining equity (usually set at 2.75%) along with a service charge and ground rent (if applicable). You will need a small deposit at the outset, generally a minimum of 5% deposit of your share, subject to conditions.

The benefits

 - The monthly cost of shared ownership is less than the cost of buying the same home outright or renting it privately.

 - The good news is, you only pay a deposit on the share you buy, which means a smaller outlay to get that first step on the property ladder. 

 - Buying a new home through shared ownership allows you to buy chain-free and you’ll benefit from a 10 year build warranty (on Resale homes the build warranty will differ depending on the length the current Leaseholder has lived there). 

 - New homes offer a great specification and better energy efficiency than older properties.

 - You can buy further shares in your home, or the entire remaining share, as and when you can afford to.



To apply for Shared Ownership you will need to complete an application form so that your eligibility for the scheme can be assessed.

The first step is to register with us by completing your basic details below. We will then be in touch to discuss your application.

Our step by step guide to buying a Shared Ownership home

You’ll soon see how straightforward the whole process really is!

1) When you find a property (or properties) that you like the look of, click on the ‘Register for Shared Ownership’ button and complete the form. This will send your details directly to our Poplar HARCA Sales Team.

2) Our Sales team will contact you by email to ask you a few questions on your current housing situation along with your financial position to ensure you meet the eligibility criteria.

3) Upon confirmation of meeting the eligibility criteria you will be asked to make contact with an Independent Mortgage Advisor (IMA) on Poplar HARCA panel list.

4) Once the IMA confirms you meet the financial requirements they will send confirmation over to our sales team.  A calculator provided by the Homes England will be used to assess what share in the property you can afford to purchase.

5) Our sales team will make direct contact with to arrange a viewing.  Once viewed and you’re sure you want to make that property your home, you can then put down a reservation fee.  The reservation fee is £500 this is deducted from the purchase price of your share upon completion on your new home.

 6) A formal Offer package will then be issued to you.  This will outline the costs of your new home i.e. full market valuation, share you are purchasing, service charge costs, ground rent.  The offer package also sets out a time line for dates to exchange contact through to completion. Your Offer package includes:

  • Panel solicitors list that specialise in Shared Ownership conveyancing process.

  • Offer reply form.  This is completed by the purchaser(s) to confirm the share you are purchasing along with your chosen solicitors details.

7) Upon receipt of your signed Offer reply form our sales team will then issue the ‘Memorandum of Sale’, which summarises the details of your proposed purchase.

8) When the time comes to exchange contracts, you will be legally bound to buy the home, and will be legally required to sell you the property. At this time, you will also find out your ‘completion date’, or ‘completion on notice’ if you have bought an off-plan property.

9) On the completion date, your mortgage lender will give your solicitor the money to buy your home. Your solicitor will then transfer this money on to Poplar HARCA’s solicitor. When this is done, you officially become the owner of the property!

10) At the final stage, our sales team will give you the keys so that you can finally move in to your new home and start making it your own



To apply for all Shared Ownership schemes you will need to complete an application form so that your eligibility for the scheme can be assessed.

The first step is to register with us by completing your basic details below.  we will then be in touch to discuss your application.

What costs are involved with buying a share of your home?


When buying a Shared Ownership home you will need to put down a deposit. This is the amount you pay toward the cost of your share you are buying at the time of purchase. The amount required for a deposit will vary from property to property, but the typical Shared Ownership deposit is 5% or 10% of the share you are purchasing.

For example, if you 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 £4,375.

Solicitor Fees

You will need a solicitor or licensed conveyance professional to carry out the necessary legal work.  You will need to have instructed a solicitor before your mortgage application can be submitted and it is important to check with your solicitor that they are approved to work for your mortgage lender.  Solicitor’s fees are usually on a fixed cost basis and all the solicitors on our mortgage panel will be happy to give you a quote.

Stamp Duty

Stamp Duty Land Tax (SDLT) is normally payable when property or land is purchased and is generally a percentage of the purchase price.  When purchasing a share in a Shared Ownership property you are not required to pay SDLT unless your share is eighty percent or more.  The solicitor or conveyancer dealing with your purchase is responsible for dealing with the SDLT and will be happy to advise you accordingly.

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.


What are the monthly ongoing costs of a Shared Ownership home?


Each month you will make repayments on your mortgage, until the end of the mortgage term has been repaid. The amount you will pay towards your mortgage will be dependent on the value of the share you purchase, the deposit you put down, how long of your mortgage term is remaining and the interest rate.


The exact figures for the rent are sent to you with the viewing details. It is usually set around 2.75% of the unsold equity.

For example: 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
  • The value of your property when you buy it

Service Charge

Service charges are payments by the homeowner to the housing association for the services they provide. These 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, etc. 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 the responsibility of the Freeholder – quite often the housing association.  The cost will often be included in the service charge.  Contents insurance, which covers all your furniture, carpets, white goods and personal belongings, is the responsibility of the person living in the property – it is not compulsory to purchase but it is advisable.



To apply for all Shared Ownership schemes you will need to complete an application form so that your eligibility for the scheme can be assessed.

The first step is to register with us by completing your basic details below.  we will then be in touch to discuss your application.

Register for shared ownership

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