This FAQ and the accompanying policy document outline the processes and commitments involved in buying, owning and selling under shared ownership
Shared ownership is a home-buying scheme for people who would like to purchase a property but can’t afford to buy on the open market.
You buy a share of the property and pay a subsidised rent on the remaining share to Paradigm. The amount of money required for a deposit is usually lower when compared to the amount that would be required when purchasing outright as you only need a mortgage for the share you are purchasing.
The general eligibility criteria for shared ownership is as follows:
If you have seen a property you are interested in purchasing, send us an enquiry from our website or call us on 0300 303 8046. Our sales team will provide you with all the information you will need to start your home buying journey. Initially, you will be asked to speak to a qualified financial advisor who can advise what share you can afford, free of charge.
The minimum share varies, depending on the individual development requirements. You can purchase up to 75% on a new build property. The share you can afford to purchase will be determined following your assessment by the qualified financial advisor.
As well as the deposit needed to purchase, there are initial costs to pay, just like with any other home purchase. Such as:
The reservation fee is £500, which is deducted from the final costs upon completion. If you pull out of the process before exchanging contracts, request for refunds will be considered on a case by case basis.
You can buy more shared in your home at any time. This process is called staircasing. You can buy more shares up to 100% ownership, subject to the terms of your shared ownership lease.
If you decide to sell your share, you will need to contact Paradigm and let us know. Paradigm has the right of first refusal. If Paradigm does not repurchase or provide an alternative buyer, you can sell your share on the open market. Legal and administrative costs will be met by you as the ‘owner’
Yes, you can transfer ownership (transfer of equity) where one party remains on the title, and another is added or removed. All parties must meet eligibility criteria and agree to the changes in writing. Fees will apply.
Yes, you can remortgage, but you must provide the new mortgage details to Paradigm for approval. The loan must not exceed the market value of your share and must adhere to the mortgagee protection clause in your lease. Borrowing for non-essential reasons, like paying off debts, is not allowed.
Shared owners are responsible for 100% of the service charge, regardless of the share they own.
If you have more questions, you can contact the sales team on 0300 303 8046 or residentialsales@paradigmhousing.co.uk.
All of our offices will be closed from Tuesday 15 September at 5:30pm until Thursday 17 September 2026 at 8am while our staff take part in training.
We will still be available for you to raise emergency repair requests during this period. To report an emergency repair, please call 0300 303 1010.
