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    Shared Equity Housing explained

    Author: admin
    December 31, 2009

    Shared Equity Schemes were introduced in 2006, and branded as “Homebuy”. This scheme means that instead of buying part of the home and renting the other part, a Shared Equity home is bought on the open market. The purchase of it is funded via a Shared Equity Mortgage and by an equity loan from a Registered Provider.

    Generally speaking, you need to meet the following requirements in order to qualify for HomeBuy;-

    1. Buyers must be a tenant of a Registered Provider or Local Authority, or on their waiting list, or;
    2. Be a Key Worker.
    3. Be a Priority First Time Buyer; and
    4. Have an annual household income of less than 60k.

    Some property developers also offer shared equity schemes – I know that Miller Homes offer several Shared Equity property developments in my area. I’m not sure whether all mortgage lenders offer Shared Equity Mortgages, but I do know that most of the big ones, Halifax, Royal Bank of Scotland, The Cooperative Bank do have particular Shared Equity Mortgages.


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