The truth about shared ownership

Understanding shared ownership

Did you know we have been selling shared ownership homes since 1987? That’s nearly four decades of helping people take their first steps onto the property ladder — and yet, some myths about the scheme still persist.

As part of our shared ownership month campaign, we’re setting the record straight with a myth-busting guide to help people understand how shared ownership really works.

Myth 1: Shared ownership mortgages are hard to get

Truth: While not every lender offers them, most do — and there are plenty of competitive products available.

Myth 2: Shared ownership means living with a stranger

Truth: Not at all! You own a share of your home, and NCHA owns the rest — not another person. You pay a mortgage on your share and rent on the remainder. Over time, you can buy more shares through a process called staircasing.

Myth 3: It’s only for first-time buyers

Truth: Shared ownership is open to anyone over 18 who meets the eligibility criteria and doesn’t already own a home. It’s ideal for first-time buyers, upsizers, downsizers, and everyone in between.

Myth 4: You can’t decorate a shared ownership home

Truth: You’re the homeowner — so go ahead and personalise your space! Big changes like extensions or new kitchens need permission, but your interior style is entirely up to you.

Myth 5: It’s more expensive because you pay rent and mortgage

Truth: In many cases, monthly payments are cheaper than renting privately, with the added bonus that you’re building equity in your home.

Myth 6: Only small city flats are available

Truth: Shared ownership includes a wide range of homes — from studio apartments to three- and four-bedroom houses, in both urban and rural locations.

Myth 7: You need a big deposit

Truth: Deposits are based on the share you buy, not the full market value.

For example, a 25% share of a £250,000 home is £62,500 — and a 5% deposit would be just £3,125.

Myth 8: You’ll never fully own the home

Truth: You can staircase your way to 100% ownership, reducing your rent and eventually owning the home outright.

Myth 9: You can’t sell a shared ownership property

Truth: You absolutely can. You can market it yourself, use an estate agent, or sell through NCHA’s own process.

Shared ownership is a flexible and affordable route into homeownership. It’s not just for first-time buyers, and it doesn’t mean compromising on your dream home.

Search our homes to explore our shared ownership homes for sale.