Help to buy

What is Shared Ownership?

Shared ownership is where a property is offered for sale on a part buy/part rent basis. You buy a share of the property, usually with a mortgage, and you rent the remaining unsold share from your landlord, in this case us, Colne.

Over time, as you are able to afford to do so, you can buy further shares in the property increasing to full ownership as and when your finances allow, this is known as staircasing. You don’t have to staircase if you don’t want to and no time limits are set by Colne for staircasing. Usually you would buy up to a 50% share from us in the first instance.

a fantastic, affordable opportunity to start buying your own brand new home

The Switch shared ownership scheme by Colne, offers a fantastic, affordable opportunity to start buying your own brand new home.

Colne work in partnership with some of the UK’s leading property developers to commission high quality houses and apartments.

Our homes are carefully specified to meet the needs of local demand. Therefore all sites are different and could offer one bedroom apartments through to family sized houses – providing a great choice for first time buyers, couples, singles and families alike.

Developments are typically set in sought-after locations and all including fitted kitchens and a well-considered specification.

Shared ownership is a great way to get on the property ladder if you can’t raise a large enough deposit or are struggling to get a 100% mortgage. With property prices continuing to rise, the Switch is a viable opportunity for many people to realise their dream of home ownership.

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Have a question?

Will I need a solicitor? • How do I know if I am eligible? • Is this more expensive than buying? • Will I need any savings? Take a look at our FAQ’s to get the answers to the above questions and many more.

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Managed by Colne

The Switch shared ownership scheme is provided by Colne and we use our vast experience in helping people to find affordable homes in suitable locations.

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