Shared Ownership Guide

Shared Ownership – Make living with your parents or renting a thing of the past!

We want to make sure you understand everything there is to know about buying a Shared Ownership home from Radian, from arranging a viewing, following the reservation process, and to the day you move in. Should you have any further questions after reading this Shared Ownership Guide, please speak to your Sales Officer.

What is Shared Ownership?

Shared Ownership is a well respected product that has been helping people into home ownership for the last 30 years. It is tried and tested!

With Shared Ownership you can purchase from a 25% share up to 75% – we will help you to assess which is the best option based on your finances so take the worry out of this decision for you.

To buy a share, you’ll typically purchase it with a mortgage and savings/deposit. On the remaining % share of the property you don’t purchase, you pay a low rent to Radian who will still own that share.

It can often be an affordable alternative to renting or buying on the open market, and unlike purchasing on the open market, you don’t need to raise a deposit based on 100% value of the property, just for the share that you are purchasing.

For example:

Open Market Purchase:
£200,000 purchase price
5%* mortgage deposit that you will need savings for = £10,000
95% mortgage to raise = £190,000

Shared Ownership Purchase:
£200,000 full market price
£80,000 for a 40% share
5%* mortgage deposit to buy the share = £4,000
95% mortgage to raise to buy the share = £76,000
Monthly rent paid on the remaining 60% not purchased


*5% deposit rate is currently the minimum lender rate, this can be subject to change and will depend on individual circumstances.

Only buy what you can afford

We will work with you to understand your living expenses and lifestyle to ensure that the share you purchase is not beyond your financial means. An Independent Financial  Advisor (IFA) will also work with you to ensure you are buying an affordable share of the property and making best use of your savings towards your mortgage deposit.

This means that you can still live life to the full and are not tied down with worrying, unaffordable monthly payments. Shared Ownership will allow you to feel comfortable taking those first steps onto the property ladder.

An affordability assessment will take into consideration your annual and monthly income, any outgoing debts such as credit card and loan payments, as well as ensuring the monthly mortgage and rental payments on the home you are planning to buy are affordable for you. The assessment will also look at how much you can borrow as a mortgage, as well as the amount of savings you have for your deposit.

We have a dedicated team of Independent Financial Advisors on hand to help with the financial assessment process; they can also help you with the mortgage application!

Who can apply?

All applicants for Shared Ownership, whether it is a newly built home or a resale, must have a household income of less than £80,000.

That means if you are looking to buy with a partner, your joint incomes before tax and deductions must be below this maximum threshold.

Minimum incomes will still be applicable for all homes, as well as taking into consideration outgoings, debts and savings, as this ensures that the home you wish to buy is affordable for you both now, and in the long run.

The Shared Ownership home you wish to buy must be your one and only property.

This includes homes abroad, holiday homes, buy to lets or a home that you are still named on the deeds/mortgage for but no longer live in (ie. following a divorce or relocation).

Existing home owners, including shared owners are also able to apply for a Shared Ownership home.

If you are an existing shared owner, for example in a two bedroomed apartment, but would now like to buy a three bedroom house, you can now use the scheme again. You must however have a sale agreed on your current home before reserving a new Shared Ownership property.

If you own your home either with an equity loan or you purchased on the open market, you will need to get written confirmation from the local authority that you have a housing need. For example, a family home is being sold following a divorce and you cannot afford to buy on the open market.

The scheme is available to anyone, not just people in specific occupations or people under 30!

As long as you meet the other eligibility and affordability criteria as mentioned above, anyone can apply for Shared Ownership.

For all properties, serving MOD personnel, some ex-MOD personnel and bereaved partners will have priority to buy with the scheme. This means this priority group will have an opportunity to reserve a home first, however all Shared Ownership homes are offered on a first come first served basis, unless stated otherwise.


Radian work with Local Help to Buy Agents who will have all the information you need to explain eligibility – to check this out go to

Who has priority for the scheme?

For all properties, serving MOD personnel, some ex-MOD personnel and bereaved partners will have priority to buy with the scheme. This means this priority group will have an opportunity to reserve a home first, however all Shared Ownership homes are offered on a first come first served basis after this priority group have been considered.

Ministry of Defence Personnel
To be considered as a serving member of the MOD, you must have completed your basic (phase 1) training and are either regular service personnel (including Navy, Army and Air Force), clinical staff (with the exception of doctors and dentists), Ministry of Defence Police Officers or uniformed staff in the Defence Fire Service.

Ex-regular service personnel who have served in the Armed Forces for a minimum of six years and they apply to buy within two years (24 months) of the date of discharge from service will also be prioritised. You must also produce a Discharge Certificate (or similar documentation) as proof.

Priority will also be given to surviving partners of Regular service personnel who have died in service, where they apply to buy within two years (24 months) of the date of being bereaved.

I’m not in the forces, what does this mean for me?
If someone applies for a Shared Ownership home that meets the above criteria, they will have the first opportunity to reserve the home of their choice, whilst also meeting other Shared Ownership eligibility and affordability criteria.

This means a home may already be reserved prior to launching a new development, or we may only be able to accept your reservation for a range of homes rather than a specific plot.

This is in line with criteria for Shared Ownership, as stipulated by the Homes and Communities Agency (HCA). Further information can be found by visiting

What does a 'local connection' mean when applying for a home?

Some local authorities in the areas that we sell and let homes in ask that buyers and renters have some type of connection to that area. This could mean that you live or work in the area, or you have family already in a nearby town.

The District Council will only accept that an applicant has a local connection to Chichester District if they are able to prove that one of the following statements applies to at least one adult applicant:

  • Currently permanently reside, through choice, within the Chichester District and have done so without a break for the preceding two years.
  • Have resided within Chichester District for four out of the last six years.
  • An applicant is currently employed within the district and has been continuously for at least the last 12 months. Although the employment need not be paid the applicant must be able to prove that they perform genuine work that is carried out predominantly within the Chichester District boundaries. Their employment must include at least 20 hours per week within the District.
  • The applicant needs to live in the District to provide care to, or be provided with care from, a close relative (defined as mother, father, brother, sister or grown up children of the applicant) and that person has lived continuously in the District for a period of five years. The person providing the care will, in most cases, have to demonstrate that they receive, or are entitled to receive, Carer’s Allowance.
  • Other exceptional circumstances that the local authority might reasonably consider to constitute a local connection as agreed by the Head of Housing and Environment Services and the Cabinet Portfolio Holder.

If you are applying for a home in the Christchurch council area, you will need to meet one of the following criteria and register with the Council:

  • You must be permanently living in the area for at least 12 months prior to nomination or for at least five years out of the previous 10 years, and that residence of is your own choice, or
  • You have close relatives (ie. parents, children, brother or sister) who have lived therein for the past four years or at least 10 years at any time during the person’s lifetime, or
  • You have had permanent employment therein (normally regarded as 16 hours, or more than a week & not including season employment) for 12 months prior to nomination, or
  • Have other special circumstances which create a link to the given Parish or Borough (not including a residence in hospital, armed forces accomodation, holiday let or prison). These special circumstances must have been verified and approved by the Borough Council.

East Hampshire
If you are applying for a home in the East Hampshire council area, you will need to meet one of the following criteria:

  • You have lived in the area for 1 year or more
  • Immediate family (parents, grandparents, siblings) live in the area for 5 years or more
  • You are employed in the area for 1 year or more. Must be a permanent contract for over 16 hours a week

If you are applying for a home in the Wiltshire council area, you will need to meet one of the following criteria. Please note armed forces personnel are exempt from this criteria.

  • Living in Wiltshire Council’s area and has resided here for minimum last 2 years+
  • Employed in Wiltshire Council’s area, or a job offer where contract for 12 months+
  • Self employed in Wiltshire Council’s area
  • Closely related to a person (a parent, a grandparent, an adult sibling or adult child) who is living in Wiltshire Council’s area and has resided in the area for 5 years+
  • A person who urgently needs to move to the Wiltshire Council area to receive health, care or support services which are unavailable where s/he currently lives.

What homes are available for Shared Ownership?

All of Radians available homes are advertised here at and will also be on the Help To Buy Agents websites. You may also see adverts for our homes on websites such as Zoopla or RightMove, or in local newspapers and press. If you are interested in any of our homes please contact us.

All homes are offered on a first come first served basis unless stated otherwise.

For some homes, a local authority (council) may state that a Shared Ownership home must be sold to people with a local connection to the area. This means that some homes will still be prioritised for both MOD personnel and local people before offering it to an applicant that has no connection or on a first come first served basis. (ie. living and/or working within that local authority area). If this is the case, Radian Homes will clearly mark our website listings and all other marketing stating this. However if you are unsure, please do not hesitate to get in touch with us to check.

There is no limitation on the number of bedrooms a home has that you can apply for.

Previously, you could only apply for a home with one bedroom more than you currently required, for example, a single person or couple could only apply for a one or two bedroom home. The Shared Ownership scheme as of 4th January 2016 now enables you to buy any home regardless of size, as long as it is affordable for you and do not exceed the maximum occupancy of a home at the time of purchase.



Buying more shares

This is another great benefit of Shared Ownership; not only can you buy a % share suitable to your needs initially, but you can also buy more shares in the property later on should you wish. This means that as your finances or lifestyle changes, you can own a bigger stake in your home. And another advantage of buying more means that you pay less rent to Radian!

Selling your home

If you ever want to move you can sell your share of your home with the help of our dedicated Resales Team. They will sort out all of the marketing, the valuation and will advertise your home on the local Help to Buy Agents website, finding a new purchaser via the lists of applicants Help to Buy Agents hold. They will explain the process from the start, and will help you through the entire process from ensuring you are happy with the marketing flyer, to finding you a purchaser. For more information on our Resales service, visit the Home Owners section of our website.

More than just 4 walls!

Another attraction of Shared Ownership is that you are the home owner and have all of the benefits of someone that purchases on the open market. You don’t need to ask about decorating, or check if you’re allowed to hang a new photo on the wall; you can look after running your home yourself. But never fear, if you find anything tricky, we can help – we are just a phone call away.

Contact us

For more information on purchasing a home through Shared Ownership, buying more shares or simply just want to ask us a question call on 0800 145 6663 where one of our dedicated customer service advisors will be on hand to help.

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