Shared ownership FAQ

These are some of the most commonly asked questions about Shared Ownership. If your question isn’t answered here, please give us a call!

Costs of Shared Ownership

This page offers examples of payments and responsibilities in our shared ownership scheme.

There are costs associated with buying a shared-ownership home, just like there are if you buy on the open property market. We recommend that you have a minimum of £3,000 in savings before proceeding with a purchase

The following figures should only be used as a guideline. Worthing Homes suggest that you make your own enquiries prior to making a decision on purchasing one of our properties.

Costs will vary according to the value of the property and to the amount of stamp duty paid at purchase.

Item Estimated Cost
Holding fee £500.00
Survey and / or valuation on property £500.00
Solicitor’s fee ( including VAT) £1,200.00
Local authority and land registry searches (including VAT) £360.00
Stamp duty @ 2% of a property valued at £125,000 (see notes below) £2,500.00
Total estimated purchase costs £2,680.00

Stamp Duty

It is important to discuss Stamp Duty Land Tax obligations with your conveyancer once you have found a property you think you might like to buy. There are different ways of paying SDLT when you buy a property through a shared ownership scheme.

Running costs

Once you move into your property you will be responsible for the costs of running your home and there will be council tax, gas, electricity, water and service charges. These will be in addition to your monthly mortgage and rent payments.


Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

With a shared ownership home, what will I own?

You will buy your home on a lease, which will normally be 99 to 125 years for new homes. Although you have not bought the property outright, you will have the normal rights and responsibilities of a full owner-occupier. If the property is a house and you later decide to buy it outright, you will normally then be given the freehold.

What type of property can be purchased through shared ownership?

The schemes are a mixture of houses and flats, some are refurbished and some are new. The properties are usually one and two bedroom in size.

Who can apply?

People who can afford to buy a shared ownership property but cannot afford to purchase a similar property on the open property market. These include:

  • First time buyers.
  • Existing owners will be considered if the sale of the current home is due to a relationship breakdown; moving for a job where property values are higher; moving to support a dependent relative; or existing property is now unsuitable for their needs.
  • People who have a local connection with the borough in which the property is built.
  • People registered with the Worthing Borough Council or Worthing Homes.

Who has priority?

  • Serving MOD personnel, some ex-MOD personnel and bereaved partners will have priority to buy with the scheme.
  • Existing Worthing Homes tenants who are not in rent arrears or in breach of their current tenancy.
  • Those have been nominated by the Local Authority

Applicants will then be prioritised by their connection to the local authority area and/or Housing need.

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

Can I buy a larger share of my home?

The Worthing Homes lease allows you, after one year, to increase the share you own of your home.

Can I sell my home?

You may sell your home whenever you choose, just like any other homeowner. To make sure that your home can then be made available to others who cannot afford to buy outright, we will, for a short period, have the right to find a buyer for your home

How do I apply?

To apply you must be registered with Help to Buy, have a mortgage offer in principal and meet the following criteria:

  • Applicants must have UK or EU passport
  • Local Connection to the Local Authority area
  • Registered with Help To Buy – application number must be provided.
  • No CCJ’s or arrears of rent or mortgage in the six months prior to application.
  • Applicants should not be in a position to afford the cost of purchasing a comparable home outright on the open property market.
  • First Time Buyers/applicants with no interest in a property except for:
    • Those selling a home through relationship breakdown
    • Those whose current home is not suitable for their needs (eg size)
    • Those who are moving to an area where property prices are higher to take up employment/look after a family member or be looked after by a family member.
  • Must provide own credit report
  • Minimum £18k and max £80k income levels
  • No more than 1 additional bedroom than current family need

Please note priority is given to:

  • Ministry of Defence Personnel
  • Those moving from social rented homes

Important note: If you have a County Court Judgement out against you, or you are in rent arrears, you are unlikely to be able to purchase a shared ownership property. As a shared owner, your home may be at risk if you fail to keep up mortgage and rent payments.