Shared ownership, also known as part rent part buy, is a way to help people get onto the property ladder.  You buy a percentage of a house and pay rent to LiveWest for the remaining share.  This means smaller deposits, smaller mortgage, and the rent you pay on the remaining share is charged at a discounted rate.

You can buy more shares as and when you can afford to, usually between 25%-75% and eventually up to 100%, in most cases, you can own your own home outright.

Stamp Duty paid for first-time buyers of shared ownership properties.

In the 2018 Budget, the government announced that shared ownership first-time buyers would be exempt from paying stamp duty if their shared ownership property is worth up to £300,000.

You will need to meet certain criteria in order to be eligible for shared ownership. You will need to confirm that you can raise enough money (normally with a mortgage) to buy the share that you own. Monthly rent is then payable on the remaining share as well as a monthly fee towards buildings insurance and service charges which service communal areas in and around your property.

Read and understand your lease and what restrictions it sets out. Work out costs and monthly payments and think about your long term plans. 

Application packs of the properties you apply for will lay out all the details you need, including the costs and service charges, which may be subject to change. 

Call our Sales team today on 01752 856 037 or email us at to find out how your dream of buying a home could become a reality with shared ownership.


How to apply

In two easy steps, you can be on your way to owning your own home:

  • Apply for a financial assessment.  Find out more information on how to do this in our application pack.
  • Register with Help to Buy for your area or visit to find out more.

If you have a dream of buying your own home, call our Sales Team today on 01752 856 037 or email us at


To be eligible to purchase a shared ownership property, you must:

  • Have a gross household income of under £80,000
  • Not own property, or part of a property, at the time of completing on your purchase (although you may apply for shared ownership whilst    you are in the process of selling or discharging you interest in another property)
  • Have a good credit history
  • Have enough savings or access to sufficient funds to put towards the deposit and other purchasing costs, such as legal and moving costs
  • Be registered and confirmed eligible for shared ownership by Help to Buy. Find out more

If you want to learn more, get in touch with our Sales team on 01752 856 038 or email us

How much does it cost?

You should think carefully about the costs involved in becoming a homeowner. These will include:

  • Reservation fee – LiveWest requires a reservation fee (usually £500) to secure your interest in the property. 
  • Valuation fee – this is required by law and will determine the amount you pay for the property.  The valuation must be carried out by a member of the Royal Institute of Chartered Surveyors. If you need a mortgage to buy your new home your lender will arrange this valuation for you.
  • Legal fees – shop around for a solicitor as fees can vary.  You should also ask if they have experience working with shared ownership leases.  LiveWest has an approved list of experienced solicitors which are available on request.
  • Mortgage arrangement fee – (if applicable) this may be required by your lender.  We recommend you use an independent financial advisor (IFA) when looking for your mortgage as they will give you the best advice.  LiveWest also has a list of approved IFA’s.
  • Service charge.
  • Buildings insurance.

After you’ve bought

Before you carry out any structural work or home improvements on your property, you will need written approval from LiveWest. You may also need approval from your lender, and in some cases planning permission and building regulations. Get in touch with us for more information.