Shared ownership housing
Shared Ownership Housing is a cross between renting form a Housing Association (or
other Registered Social Landlord) and owing a house.
Shared Ownership Housing is aimed mainly at people who cannot afford to buy a house
outright on the housing market, but are still keen (and financially able) to make
a start on the home ownership ladder and invest some money in their property.
The occupier purchases a share in the ownership of the house (usually 25%, but sometimes
50% or 75%) and pays a reduced rent on the remainder.
Shared ownership occupiers have the right to buy further 25% shares of the equity,
up to and including 100%, which means that they then become the sole owners of the
The occupiers housing costs can vary according to the type of mortgage and the size
of the ownership share (i.e 25%, 50% or more).
Who is eligible for shared ownership housing?
Each individual housing association (or registered social landlord) have their own
However, general eligibility criteria can be summarised as follows:
- Associations normally give priority to applicants who are already living in public
sector rented housing (e.g housing associations or Council). This is because their
previous home could then be used by someone else in housing need.
- Associations are also expected to give priority to first time buyers. Consideration
will, however be given to applicants who have previously been owner occupiers, where
the applicant's financial circumstances warrant it (e.g significant deterioration
in the applicant's financial circumstances or a relationship breakdown).
- Applicants who can afford to buy a house outright on the open market
are not eligible for shared ownership housing, nor are those who
could not afford to purchase a 25% or 50% share of the equity.
- The procedure associations use for considering shared ownership applications therefore
includes a careful assessment of the applicant's financial circumstances and it
must be verified by the applicant's bank or building society that he/she can truly
afford and sustain all the costs involved.
A table of current shared ownership properties in South Ayrshire is listed below.
If you are interested in applying, you should contact the relevant housing association
for further details.
Shared ownership in South Ayrshire
In South Ayrshire the following Housing Associations provide the option of Shared
Name & Address of Housing Association
Location of current S.O Properties
119 Main Street
Tel: 01292 880 120.
Fax: 01292 880 121
Kings Meadow, Prestwick Mainstream
West Sanquhar Road, Ayr Mainstream
- 8 x 3 apt Houses
- 3 x4 apt Houses
Trust Housing Association
25 Park Circus
Tel: 0141 341 3200
West Crescent, Troon
- 1 x 4person 3apt
- 1 x 5 person 4 apt
West of Scotland Housing Association
Ayrshire Area Office
17 Portland Road
Tel: 01563 573 636
Ardfin Court, Prestwick
- 4 x 2apt
- 6 x 3 apt
- 4 x 4 apt
Orchard Avenue, Ayr
North Shore Road, Troon
Johnstone Drive, Mossblown
McEwan Cres, Mossblown
How to apply?
Given the nature of shared ownership housing (i.e people are making a long term
investment in the property and are likely to live in the property for some time
before moving on), vacancies in existing developments are quite rare.
Most vacancies are therefore likely to become available on new build developments.
To apply for shared ownership housing, you should contact any of the above housing
You will need to fill out a form specifically for shared ownership housing. If you
have already applied to any of the above associations for rented housing you will
need to apply again separately for shared ownership.
Housing Mobility and Exchange Services (H.O.M.E.S) hold a database of providers
of shared ownership properties and existing sharing owners wishing to move throughout
Scotland & England.
A leaflet is available from:
6 Palmerston Place
Tel: 0131 226 7216
For an application form contact:
242 Vauxhall Bridge Road
Tel: 0207 9630200