Shared Ownership with Brighter Places is a great affordable way to get your foot on the property ladder even if you’re not able to buy your own property outright.
Shared ownership enables you to purchase a share in a home usually between 25-75% of the value of the property and pay discounted rent to Brighter Places on the part you don’t own. The larger share you own the lower the rental payments.
Shared Ownership is a government backed initiative, designed to help first time buyers in England get on the property ladder. The scheme allows you to initially purchase a share of a property, which can be between 25% and 75%.
The share you purchase would be funded by a mortgage or cash and is dependent on your level of savings and income. You will then pay an affordable rent on the remaining share; meaning the higher the share you purchase, the less rent you will pay.
Purchasing a home through our flexible shared ownership scheme is the perfect choice for those who can’t quite afford to buy a property outright on the open market.
If you already own a Shared Ownership home with Brighter Places, you may want to buy more shares (known as ‘staircasing’), sell your home, or you might have queries about what your responsibilities as a leaseholder are.
Our Existing Residents page aims to provide you with all the information you might need.
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