Shared ownership

Shared ownership is a scheme designed to help people who may not be able to afford a property outright by offering the opportunity to purchase a share in a property.

The initial purchase is usually a 25 percent or 50 percent share and after the first year of ownership you have the option to buy further shares in your home until you have purchased the property outright.

Monthly outgoings will include repayments on any mortgage taken out to fund your share purchase and a rental payment to Hermitage Housing on the remaining percentage of the property.

For further information on shared ownership call 023 9279 4500 or email sharedownership@hermitage-housing.co.uk