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What is Shared Ownership?

Shared ownership offers first-time buyers or non-homeowners, who can’t afford to buy a property on the open market, an opportunity to own their own home. Through shared ownership a property is offered for sale on a part buy/part rent basis. You can own between 25% and 75% shares of a property, usually purchasing your share with a mortgage, and renting the remaining share from your landlord, in this case us, Colne.

Under the shared ownership terms, you will be offered the maximum percentage you can afford and over time, as you are able to afford to do so, you can buy further shares in the property and in most cases increase to full ownership, 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.

A fantastic, affordable opportunity to start buying your own home

A kitchen worktop

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

VIEW OUR FAQS

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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