How do I buy Shared Ownership?

So you want to buy a property in Manchester or Cheshire and you’re thinking about applying for Shared Ownership. But before you apply, you want to understand how the shared ownership buying process works, right? 

We get it. It can all seem a little daunting when you’re thinking of jumping on that property ladder. 

Here’s a quick rundown of the steps you’ll need to take - including our Shared Ownership eligibility criteria - so you can decide whether to take the plunge.

man pinching his cheek

Shared Ownership homeowners

Whether you're a first-time buyer, a single professional, or a growing family, Shared Ownership opens the doors to homeownership for those who dream of a place to call their own.

Am I eligible to buy?

We want to make homeownership a more level playing field, so Shared Ownership is aimed at those who meet one or more of the following criteria:

Income: Your household income is less than £80,000 per year.

UK Resident: You are currently a UK resident.

Own A Home: You don't already own a property.

Affordability: Buying a home outright on the open market is not within your budget.

Circumstances: You had to sell the home you owned due to a change in circumstances such as a relationship breakdown.

Relocating: You’ve had to relocate to a new area due to family or work commitments.

More Room: You already have a Shared Ownership home but you've outgrown it.

Shared Ownership is typically designed with first-time buyers in mind, providing an opportunity for those who may not find their dream home on the open market. However, we're not here to set strict rules in stone. If you fall into any of these categories, we're all ears and ready to help.

At Gecko Homes, we're all about flexibility and making homeownership work for you, no matter where life takes you. Let's talk and find the perfect Gecko-fit for your unique situation.

man pinching his cheek

Get Blown Away

Prepare to be blown away by Shared Ownership from Gecko Homes! Our homes offer unbelievable value that might leave you in awe. In just 30 seconds, you can start your journey towards your dream home by learning all about it.

What is the process?

We want you to enjoy your journey to home ownership and are passionate about giving you access to beautiful homes where you’ll want to live, in the area you want to live. But, as with any property purchase, Shared Ownership comes with some specific criteria that buyers need to meet.

We'll help you find out if this way to buy a home is right for you and if it is, our process is below.

1. Find Your Home

Search our homes

Start searching through our Shared Ownership new build and resale homes and explore their features, specifications, location and benefits by clicking here.

Make a shortlist of your favourites, then register your interest for your top choice.

Is it right for you?

It's also important to check if you are eligible to buy through Shared Ownership. You can find all the information you need here.

2. Complete Our Application

Create your account

We make it easy for you to take the next important step towards homeownership. Once you have shown interest with us, you need to create your online account, where your journey begins.

Complete application form

Inside your account, you'll find the online application form – the gateway to your Shared Ownership home. Simply fill it out, and rest assured, we'll review your application promptly.

If everything checks out, we'll give you the green light to proceed to take a financial assessment with Metro Finance.

In some cases, we might need a bit more information, or we'll kindly advise that it might not be the perfect time for you at the moment. Our goal is to guide you every step of the way, ensuring your path to a decision with us is as clear and smooth as possible.

3. Financial Review

Financial assessment

We've got your back when it comes to financial matters. We've teamed up with the friendly team at Metro Finance, and they've got this nifty calculator tool you use online. It's designed to figure out the maximum share you can comfortably purchase.

To kickstart this process, all you need to do is get in touch with Metro Finance at 0114 270 1444 for your assessment. Alternatively, if you prefer the online route, you can input your details at

The best part? It's all about ensuring you can comfortably afford your share without any financial issues in the future. This service is completely free, and if you fancy it, Metro can also assist you in securing a Mortgage in Principle. So, let's get those wheels turning on your homeownership journey! 🏡📊🚀

Here's some helpful tips:

We've got some important points to keep in mind to ensure your homebuying journey goes as smoothly as possible:

Income boost: If you receive bonuses, commission, or overtime income, make sure to provide evidence of these additional earnings. They can have a positive impact on your ability to purchase. Our affordability calculator takes into account 50% of these bonuses and overtime. Additionally, in some cases, we may consider 1/3 of the income of someone who will live in the property but isn't part of the application or mortgage.

Accuracy is key: It's crucial to provide accurate information to your Independent Financial Advisor (IFA) or lender. This helps prevent any delays in the mortgage process and ensures everything runs smoothly.

Future credit: If you have any plans to take out additional credit, such as loans or credit cards, it's important to disclose this to your mortgage advisor. Taking on new credit during the mortgage process, even after you receive a mortgage offer, could affect your ability to borrow the desired loan amount if it's deemed unaffordable. For any questions or concerns about this, don't hesitate to reach out to your mortgage advisor for guidance.

We're here to support you every step of the way, so don't hesitate to ask if you have any questions or need further clarification.

4. Documents You Need

Some paperwork

We've got a checklist of documents that you'll need to provide to our partners at Metro Finance. Don't worry; it's all part of the process to make your homeownership dreams come true:

Photographic ID: You need a copy of either your Passport or Driving Licence for all applicants. Just snap a clear photo or make a photocopy.

Income Records: If you're employed, please provide your last 6 months' payslips. If you're self-employed, you'll need to supply 3 years' worth of accounts from a qualified accountant or 3 years of SA302s (if accepted by the mortgage lender).

Proof of Deposit: To show you're all set for your deposit, provide a bank statement or a screenshot of your online banking.

Mortgage in Principle: This is a key document that outlines the proposed loan amount, interest rate, and repayment duration. You can easily arrange this through our trusted financial advisors at Metro Finance; give them a call at 0114 270 1444.

Working Tax Credits: If applicable (excluding child-care credits), include these in your documentation.

Local Area Connection: In some cases, there might be specific criteria related to the local area where you plan to buy. If so, you'll need to provide evidence of this connection. We'll guide you through this process, and if needed, we'll liaise with the local council on your behalf.

Rest assured, we're here to assist you every step of the way, making sure everything runs smoothly. Feel free to reach out if you have any questions or need further assistance.

5. Reserve Your Home

£500 Reservation Fee

Reserving your home where you'll want to live is an exciting step in your journey, and we've made it straightforward for you:

Guidance From Our Advisors: One of our knowledgeable sales advisors will go over the reservation agreement with you, ensuring you're fully informed about the details.

Secure Your Property: To secure your home, you'll need to pay our £500 reservation fee. You can conveniently make this payment online by logging into your account or by calling our team. The £500 fee will be deducted from your final costs, marking the official start of the process.

Reservation Form: After payment, we'll send you a reservation form to sign and return. This form outlines the sale particulars and the terms & conditions of the reservation period, so be sure to review it thoroughly. Additionally, you'll need to provide your solicitor's details at this stage.

Shared Ownership Solicitors: If you're unsure about which solicitors to choose, don't worry! We have a panel of recommended solicitors who are well-versed in the Shared Ownership sales process. Opting for one of our panel solicitors can help ensure a smooth and speedy sale progress.

We're here to assist you every step of the way, making your homebuying journey as seamless as possible. Feel free to reach out if you have any questions or need further guidance.

6. Get A Solicitor

Now your reservation fee has been paid, your Shared Ownership home is reserved for you subject to contract – so it’s time to find a solicitor who can help you with the official paperwork.

Who should I choose?

You may already have a solicitor you would prefer to use (please just make sure they are experienced in Shared Ownership sales).

If not and you are still looking for a solicitor, we would recommend using one of the below as they are all experienced in Shared Ownership sales. Their rates may vary so it’s always worth reaching out to get a quote for them to act for you during the conveyance.

Once you have confirmed your solicitor, please let us know who you have decided to use. We will need their contact details when completing your reservation agreement.

Shared Direction Conveyancing
Click here to view their website
0808 273 0273

Watson Ramsbottom Solicitors
Click here to view their website
01254 311 345

PLS Solicitors
Click here to view their website
0330 024 4536

7. Agreed Terms Of Sale

Helped along by our team, our solicitor and your solicitor will work together to draw up and agree terms of sale for you to accept.

You’ll be given all relevant paperwork throughout the process, so you understand all your responsibilities (and ours).

Keep your eyes on your emails as we progress the sale and completion and make sure you are regularly in contact with your solicitor. 

8. Your Mortgage

By now, you should already have your Shared Ownership mortgage in place if you are buying with one, so make sure everything is agreed with your lender.

Ask us if you need any guidance at any stage – you’ll need your mortgage ready to go in time for the exchange of contracts. 

9. Contracts Exchanged

Not long to go

Now that both our and your solicitors are happy with all the legal documents, contracts are exchanged and we'll be sent these to review and sign to finish all the legal bits.

Ask any questions

Your solicitor is there to help you with all the legal stuff and we always recommend speaking to them for any advice and to fully understand everything about buying with Shared Ownership and agreeing on your contract.

Moving in

Once the contracts are sorted, this also means setting the completion date, so you’ll be able to set the wheels in motion for moving day. 

10. Happy New Home

Home is... Where you want to live

Happy new home! Known technically as completion day, this is the day the sale is completed and you officially own your home. We’ll meet you there to hand over the keys and talk you through our Home User Guide so you know all the essential bits about your place – we don’t stay for the unpacking though… 

Once we've gone, you’re free to relax, enjoy and live in it as you please, safe in the knowledge you have your own space where you want to live.

Congratulations on your new home from us all at Gecko. 

11. But That's Not All

We're here to help

After applying for Shared Ownership and securing your new home, our work continues – our friendly Customer Care team are here to support you and answer any questions you may have even after the last box has been unpacked.

Reporting snagging and defects

If you notice anything that needs our attention, report this by logging into your online account. You can also email us on or by calling 0161 974 0556.

Buying more shares

If you want to buy more shares and own more of your home, we call this Staircasing and you can find out more by clicking here.

Find a home