Shared Ownership

With Shared Ownership^~, you buy a share of your Gleeson home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, making homeownership more accessible.

Shared Ownership is a practical mix of renting and buying; all designed to get you moving faster. Our Shared Ownership offering makes the house  buying process affordable and accessible for everyone, whether you are a first-time buyer or have owned a home before.

How does it work?

Depending on which Shared Ownership scheme you use, you can purchase your share in either cash savings or by taking out a mortgage. For the remaining share, you will pay rent to a landlord, who will grant you a long-term lease. This means you will be able to live in the home as if you’ve bought it outright, enjoying all the amazing benefits of homeownership.

Shared Ownership is currently available on the following developments:

Read on to learn about our available Shared Ownership schemes!

• With Home Reach you buy a share of your chosen newly built home and pay monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home
• You are able to purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be
• To start with, you can purchase from 50% to 75% of your chosen home and Heylo will become your landlord granting you a lease. This means you will be able to live in the home as if you’ve bought it outright. Heylo Housing is a residential property company with a long term investment strategy to provide affordable housing across the UK. In partnership with a leading Local Authority and backed by significant pension fund investment it plans to deliver a unique suite of housing solutions and drive significant shared ownership affordable housing across the UK
• On the share you do not purchase, you will pay rent of 2.75% of the unsold value, this will be paid monthly via direct debit. You can purchase more shares in the future until you own the whole property and stop paying rent altogether
• Starting shares, vary across developments. For more information on the shares available, the sales representatives at the development you would like to buy at will be able to guide you

Available with Heylo Home Reach on selected developments and selected plots only and is subject to eligibility criteria. You must purchase a minimum share of 50% and not more than 65% of your chosen property to qualify and you must have a cash deposit equivalent to a minimum of 5% of the share being purchased. Rent on the unpurchased property value can be subject to an increase of either RPI + 0.5% or CPI plus 1.0% each year. For confirmation of which formula applies to the home you are purchasing, please refer to your lease information. Your home may be repossessed if you do not keep up with repayments on your mortgage or Shared Ownership lease. The property will remain leasehold until the buyer acquires the full 100% equity in the property, at which point the property will become freehold and the Shared Ownership lease will no longer be applicable. Gleeson reserves the right to amend, alter, or withdraw the promotion at any time. This scheme cannot be used in conjunction with any other Gleeson offer or incentive unless specifically authorised by Gleeson in its absolute discretion (and subject to lender approval, which may include a minimum buyer contribution). Please speak to our Sales Executive for more information.

• Your ReSI Shared Ownership is a private scheme.
• Under the Shared Ownership model, you can buy between 25% and 75% of your home depending on what you can afford.  
• You will pay a mortgage on the share that you own and a reduced rent to Your ReSI Home on the remaining share owned by Your ReSI Home, this is worked out at 2.75% of the unsold share.
• Depending on which mortgage lender you use, your deposit can be as little as 5% of your share value.
• Not all customers will require a mortgage, some customers may be able to purchase their share with savings and no mortgage.
• First-time buyers, existing shared owners and former owners buying again who cannot afford to buy a home on the open market may be eligible to buy a Your ReSI Home.