What is Shared Ownership?

Shared ownership makes it possible for you to purchase a home of your own. You will pay a mortgage on the share you own and pay rent to a housing association on the remaining share.  Because the purchaser only needs a mortgage for the share they are purchasing, the amount of money required for a deposit is a lot lower when compared to the amount that would be required to purchase a house outright.

The purchaser has the option to increase his or her share during their time in the property via a process known as ‘staircasing’, and in most cases can staircase all the way up to 100%, thereby owning the property outright. Shared ownership properties are always leasehold.

Am I eligible for Shared Ownership?

You can buy your home with Shared Ownership if:

  • Your household earns £80,000 a year or less.
  • You’re a first-time buyer (or existing shared owner moving to another shared ownership home)
  • Your income is sufficient to cover the mortgage (if applicable), rent and service charges
  • Your chosen Shared Ownership property is affordable and sustainable for you

If you are a serving member of the British Armed Forces, or have been honourably discharged in the last 2 years, then you will receive priority for buying a home through Shared Ownership. 

Please note that if you are currently a home owner and want to buy with Shared Ownership, you will need to find a buyer for your current property before your application will be considered. We cannot accept applications from home owners.

If you can afford to buy the property outright without Government assistance, you will not be considered eligible. 

The process of buying a Shared Ownership home

Contact Stonecross Homes to register your interest in buying one of our shared ownership homes by email to Stonecross@boltonathome.org.uk. Please include your, name, telephone number and email address. 

Stonecross Homes will register your interest and store your details on our mailing list. 

Once houses are released for sale you will start the process below. 

  • Stage 1 will be to read our Frequently asked Questions document and confirm you meet the shared ownership criteria, we will send this by email to you. If you do not have an email address we will arrange for it to be sent by post. 
  • Stage 2 will be to complete our Eligibility and Application form. This form includes details which enables checks us to check your eligibility and affordability. Stonecross Homes will send you the details on how to do this.
  • Stage 3 you will progress to this stage once you have have passed our eligibility check. This stage includes an affordability and sustainability check, followed by a credit check.  This is carried out by qualified financial advisors. We use Metro Finance for this part of the process. We will need to forward your name and telephone number to them for them to progress this.



Click here to find out more about Shared Ownership and to see if you are eligible.