How Shared Ownership works

Our homes are available through shared ownership, making it possible for you to own your own home in a way which is flexible and affordable to you.

What is Shared Ownership?

Shared ownership is designed to help people who are unable to afford to buy a home outright, to step onto the property ladder. It is more affordable than buying outright because initially you purchase a share between 25% and 75%, and pay rent on the remaining share. In addition you only need to raise a deposit based on the share you are purchasing, rather than the full market value! Better still, you usually only need to raise a deposit of between 5% and 10% of the share value.

What about the share I don't own?

The share you don't own will be retained by B3. You will pay B3 rent on the unsold equity which is charged at 2.75%. This means that the more of the property you own, the less rent you pay.

Can I buy more shares in my property?

You can buy additional shares in your property at any time, up to and including 100% of the home - this is called staircasing. When you are ready to do this, speak to us and we will guide you through the process - Not forgetting, the more of the property you own the less rent you pay!

Under the new ‘initial repair period’ in your Shared Ownership lease you will also benefit from £500/year towards any repairs to your home for the first 10 years.

  1. Register your interest for Cheshunt Lakeside
    Our friendly sales team will contact you and discuss the next steps
  2. Eligibility and affordability
    Complete a free financial assessment and submit your application form
  3. Meet with our sales team
    View the property or the plans with our team to decide which property is best for you
  4. Reserve
    Subject to eligibility you will be offered a property for reservation, you will pay a reservation fee to secure the property in your name
  5. Apply for mortgage and instruct solicitor
    Instruct your solicitor and mortgage broker who will deal with your mortgage and conveyancing
  6. Time to move in!
    Once the property is built and your conveyancing is complete, we will handover your keys and welcome you into your new home
Click here to discover more about the process