Shared Ownership

If you're looking for an affordable way to access home ownership, we might have something for you. Over the last 15 months the sales team have helped over 170 new homeowners find their new home with Shared Ownership. We would love to help you too, find out more below.

Shared Ownership is a part-buy/part rent scheme, backed by government and offers support to help you and thousands of others get a foot on the housing ladder by purchasing shares in a home. Currently approximately 250,000 homes in the UK are Shared Ownership and generally Shared Ownership will be cheaper than renting a similar home locally.

• Part-buy -  The amount of shares you buy is based on what you can afford and subject to sign off by one of our friendly  independent mortgage brokers. At the point of first sale,  shares usually start at 25% and are capped at 75% of the full market value.  Normally you will need a mortgage to support your purchase but in some circumstances we will consider purchases in cash, such approvals remain at our discretion and subject to internal sign off.Shared Ownership Sales & Allocations Policy
• Increasing the amount you own at a later date is again subject to financial sign off this ensures your home remains affordable to you and can help to source best mortgage deals available to you.  At every step you will have our support and guidance to help you take the next step to achieve your ambition of 100% ownership. This process is known as Staircasing and details and any related costs can be found here: staircasing.
• Part-rent - you will be charged a subsidised rent on the remaining un-owned share. Initially this is calculated and charged between 2.75% and 3.00% on the value of the un-owned share and paid monthly, the cost will naturally reduce as you increase your level of ownership in the home and is subject to annual review.Rent Setting Policy
• Deposits - most buyers will use a mortgage to buy their initial share, this will include paying a deposit. Many lenders offer 95% mortgages which then requires a deposit of 5% of the share that is being purchased, for example at Parkside a 1 bedroom apartment valued at £315,000 and sold at a 25% share would have an initial purchase price of £78,750 meaning a purchaser would need to save a deposit of £3,934.50. This makes it more accessible for those who can't afford a deposit on the full market value. 

Thrive Homes are an award winning provider of Shared Ownership homes and work with leading construction partners to deliver high quality homes and communities across a range of tenures. 

A responsible and experienced landlord we own and professionally manage and maintain over 6,000 homes including 700 Shared Ownership homes. We offer an initial 990 year lease on all of our new build Shared Ownership homes.

To be eligible for Shared Ownership with Thrive and outside London, you must:

• earn under £80,000
• not be an existing homeowner, or be in the process of selling your current home, you will need to exchange on any related sale prior to exchanging contracts with Thrive on your new home
• be able to afford all the associated costs with purchasing and owning a home.

Thrive Shared Ownership Application Form (JUL24)

Our homes are initially sold off plan and all customers  looking to reserve/purchase a Shared Ownership home will need to complete a financial assessment with one of our panel of mortgage brokers prior to any reservation being confirmed and the home removed from the market.

Where possible we recommend having this meeting prior to your appointment with the sales team, this will ensure you get the most out of your viewing and if you decided to reserve you have confirmation your chosen home is affordable.

Our sales team have got some great reviews on Trustpilot and will guide you through from initial first inquiry right through to move in day!

Hear from some of our buyers

Useful Documents

• Shared Ownership Sales Allocations Policy
• Shared Ownership Application Form