Own your home with shared ownership
There are a range of ways you can buy a home from us.
Find a homeOwning your own home
We’re pleased to offer low-cost home ownership products, such as shared ownership. This scheme offers you the chance to buy a share of a property and pay rent on the remaining share.
There are two ways you can buy one of our shared ownership properties:
• When available, you can purchase an initial share of a new build property from us.
• purchase from an existing shared owner, who wishes to sell their share.
Alternatively, if you are one of our existing tenants then you may have the Right to Buy or Right to Acquire.
Low Cost Home Ownership
The Shared Ownership initiative is a Government led scheme which aims to help people who cannot initially afford to buy a suitable home outright.
The scheme allows you to purchase an initial share ranging between 25% and 75% and then pay rent of the un-purchased share. This means that depending on your current circumstances, you may find it easier to obtain a mortgage for a lesser amount and with a lower deposit required.
More about shared ownership
Shared Ownership was introduced by the Government to assist people who would otherwise be unable to afford to buy a suitable home outright.
Through the scheme you buy an initial share of the property ranging between 25% and 75% and pay a rent to Bernicia on the remaining share you do not own.
Our helpful guide gives you information and advice on how you might be able to buy your home under either “The Right to Buy” or “The Right to Acquire” scheme.
This has come at a really good time just when we needed it. The house is perfect with two bedrooms – we wouldn’t have been able to afford it without the shared ownership scheme.
This has come at a really good time just when we needed it. The house is perfect with two bedrooms – we wouldn’t have been able to afford it without the shared ownership scheme.