When an existing shared ownership (part buy / part rent) property becomes available for resale, you can buy the share from the current owner. You can buy the share that is for sale (or more if you can afford it), between 25% and 75% of the property’s market value, and pay us a subsidised rent on the remaining share.

You will generally purchase your share by having a small deposit (5% of the share you buy or more) and raising a mortgage on the rest. We are sometimes able to help previous home owners who have equity from the sale of a previous property. Over time, you can usually buy more shares until you own 100% of the property.

A simple guide to buying a resale property

As well as brand new properties, the shared ownership (part buy / part rent) option is available for properties which have previously been lived in. These properties – called resales – were once new but the owner has decided to move on and they are now selling their share to someone like you. Resales are really popular route to home ownership, and could be a great option for you. This guide will explain how to go about securing your resale home:

Step 1: Finding the right property

You can search for a resale property in the same way you would a new build property. Take a look on the HomeBuy website to see who your local Help to Buy agent is and what properties they have available. Once you’ve seen a property you like you’ll need to arrange a viewing with the vendor.

It’s sometimes difficult to get a feel about a new area and what your neighbours are like but when you view a resale property you will be shown round by the vendor who can fill you in on everything!

Step 2: Buying a property
Step 3: Owning a shared ownership home