Affordable home ownership schemes
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There are a number of affordable homeownership schemes available if you would like a foot on the property ladder. You can gain access to affordable rents or get help if you can't afford a property which meets your needs on the open market.
List of home ownership schemes available
Rent to Buy
This option offers new build homes to rent for a pre-defined period of time with the expectation that you will buy a share of the property at the end of the rental period. Homes are available through a range of housing associations on assured shorthold tenancies with an affordable rent of 80% (or less) of market rents. Some of these schemes are marketed with different names, for example ‘Try Before You Buy’ or ‘Rent Save Buy.
This option offers new build homes to rent at 80% (or less) of typical market rents. Homes are available through a range of housing associations on an assured shorthold tenancy, usually for an initial period of six months. This is reviewed regularly. The expectation is that the savings made on the reduced rent will be used towards a deposit to enable the purchase of a property at a later date.
I would like to part rent and part buy my home
Help to Buy
Help to Buy is a government scheme providing a range of home ownership options designed to make it more affordable for you to buy a home. The local agent, Help to Buy Midlands, cover the West and East Midlands and help people to get a foot on the property ladder, and guide them through the home buying options and processes.
Equity Loan Scheme
The Equity Loan Scheme is open to both first time buyers and existing homeowners. There is no income cap for applicants and you can buy a new-build property with a value of up to £600,000. The scheme helps you to buy your home with an equity loan of up to 20% of the full price of the property. You won't have to pay any interest charges on this loan for the first five years and you own 100% of your own home from the start.
Shared Ownership scheme
The Shared Ownership scheme provides for you to get a foot on the property ladder but can’t afford to buy a home on the open market. It allows you to buy a share in a brand new leasehold property (either a house or an apartment) on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. It is not just new properties that are available to buy under Shared Ownership. From time to time, properties that were originally sold under Shared Ownership become available for resale.
Taylors Lane, Broomhall, Worcester, WR5
Morningside, Oldwood Road, Tenbury Wells, Worcestershire, WR15 8TA
17 two and three bedroom shared ownership homes for sale. Qualifying criteria applies.
Find out more about Morningside shared ownership properties.
Barleycorn Fields, Cornfield Close
Plot 3 - 2 bed semi – 50% shared ownership from £125,000
Plot 4 – 2 bed semi - 50% shared ownership from £125,000
Plot 13 - 3 bed semi with garage – 50% shared ownership from £150,000
Priority to those who live, work, or have a local connection to the parish of Welland, adjoining parishes (Little Malvern, Malvern Wells, Hanley Castle, Upton-upon-Severn, Longdon and Castlemorton), District of Malvern Hills and any person who is ordinarily resident in the UK
Plot 3 & 4 expected Jan/Feb 22 and plot 13 Mar/Apr 22
Villard Grove, Coombe Hill
Plot 19 – 3 bed semi detached house
50% shared ownership from £127,500 + rent and service charge.
Priority to those who live, work, or have a local connection to Tewkesbury, local administrative area of Gloucestershire and person ordinarily resident in the UK.
Home expected January/February 2022.
I would like to buy my housing association home
Social HomeBuy allows housing association and local authority tenants to buy their home on a shared ownership basis or outright, with the benefit of a discount. This scheme is open to housing association and council tenants whose landlord is participating in the scheme. Tenants usually buy their home on a shared ownership basis with a minimum share of 25 per cent, but you can also buy the property outright.
Discounted Market Sale or Fixed Equity
With Discounted Market Sale or Fixed Equity, you buy your home at a discounted rate, usually up to 30% less of the market value and when you sell the property it will be sold at the same discounted percentage. To qualify for this type of property you will usually need to have a local connection to the area the property is in.
Right to Buy
Right to Buy is a government initiative enabling some housing associations and council tenants to purchase their existing home at a discounted rate. If you are eligible, the discount you get is dependant on how long you've been a tenant and the type of property you're buying (a flat or a house). In the first instance, to check eligibility, please contact your landlord directly and for more information see Right to Buy or call the hotline on 0300 123 0913.
Is there a shared ownership for older people?
Older Persons Shared Ownership (OPSO)
Older Persons Shared Ownership (OPSO) are homes built for people over the age of 55 who may want to downsize to a smaller property or a home that is more suited to their needs. The scheme allows you to buy a share in a new home, ranging from 25% to 75% depending on what you can afford. The maximum share you can buy is 75%. If you purchase the maximum share of 75% you will pay no rent for the remaining 25%.
I am in the armed forces and would like to purchase a property
The Forces Help to Buy
The Forces Help to Buy scheme has been designed to help Regular Service Personnel with the cost of buying a home. For information about this scheme contact:
Joint Service Housing Advice Office (JSHAO) on 01252 787574,
Is there shared ownership for people with a disability?
Home Ownership for People with Long-term Disabilities (HOLD)
A route into shared ownership for people in receipt of Disability Living Allowance High or Middle Rate Care (under 60s) or Attendance Allowance (over 60s), together with other qualifying benefits is Home Ownership for People with Long-term Disabilities (HOLD). Applicants should be first time buyers or be defined as being in housing need, with a household income of less than £80,000 per year. See My Safe Home for more information.
We strongly advise all applicants to get independent financial advice on what assistance may be available to them, and their ability to afford any of the above products.
For more information on eligibility criteria on the above schemes and to view availability in your area, please refer to Help to Buy or call 03458 502050.
Private sector housing