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An easy way to own Shared Ownership

Shared Ownership

Put simply, shared ownership allows you to buy a share in a new home; on the part you don’t own, you pay a much reduced rent - this means deposits are very low too. You have all the same rights as a home owner and at any time, you can buy more shares in your home until you own it outright.


Why buy Shared?
How does it work?
mortgage and rent? sounds expensive!
What exactly am I buying?
Is shared ownership available to me?

• Own part of your home instead of paying rent with no return.

• Low mortgage - you secure the mortgage on a percentage of the house price instead of the full amount

• Much smaller deposit than if you bought the property outright.

• Cheaper payments - combined monthly mortgage and rent payments are usually less than renting a similar property privately.

• Additional shares - as your income increases you can buy more of your home. The more of your home you own, the less rent there is to pay.

• Buy the share you can afford - so you don’t overstretch yourself financially.

• Choose from a wide variety of homes- one bed apartments to large family houses.

Shared Ownership allows you to buy a share in a new home and pay a subsidised rent on the remaining share.

The initial share you buy is usually between 25% and 75% of the full purchase price made to suit your circumstances.

You will pay a subsidised rent to Gecko on the share that you don’t own and in most cases you have the opportunity to buy more shares in your home if you wish to.

When you buy more shares in your home the rent reduces accordingly. If you end up buying 100% - there is no rent to pay.


Read our guide to buying shares and staircasing below.

Shared Ownership staircasing guide

Shared Ownership is designed to keep initial and ongoing costs of home ownership more manageable and affordable.

The combined monthly costs of a Shared Ownership home usually work out less than if you rented privately. You only need a mortgage deposit on the share you’re buying, not the full value of the home.

This means the scheme is more affordable in the short term too.

When you buy with Shared Ownership, you are a homeowner and will take on all the responsibilities and gain all of the benefits that go with owning your home. Shared Ownership doesn’t mean that you have to share your home with anyone else!

You begin by buying part of your home under a lease. A lease is a legal document between you and the building owner which sets out:

• Your rights and responsibilities as a homeowner.

• How often your rent and service charge are reviewed.

• What you can expect from us.

You will be a ‘leaseholder’ and Gecko will be a ‘freeholder’ or ‘landlord’ but you have the same rights and responsibilities as a full home owner.

Shared ownership is normally aimed at first time buyers unable to buy a suitable home on the open market BUT applications from non-first time buyers can be considered if you:

  • Are a previous homeowner who has had to sell due to say, a relationship breakdown.
  • Need to move into a new area due to work or family commitments.
  • Are an existing Shared Owner whose family has grown but can’t afford a home that suits your needs outright.
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