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Shared ownership

You can purchase an initial share (between 25% and 75%) of a property, and pay rent to the Council on the remaining share.

Shared Ownership is an affordable home ownership scheme which makes it easier for you to get on the property ladder if you don't currently own a home, or you're a first-time buyer.

It gives people an affordable way into homeownership and has helped thousands of first-time buyers onto the property ladder.

You purchase an initial share of between 25% and 75% of a property then pay rent to the Council on the remaining share.

How does it work?

Alongside your mortgage payments, you'll also pay a service charge towards the maintenance of the building and communal areas.

You can buy more shares in the property (at the market value of those shares at the time of purchase), until you own all of it. This is known as ‘staircasing’.

As you buy further shares, we'll reduce the rent proportionately to reflect the fact that our interest in the property has been reduced.

We currently have properties available under the shared ownership scheme at 1 Creekside, visit our Lewisham Sales Shared Ownership website.

You can find out more about Shared Ownership at:

Thinking of selling your shared ownership home (Resale)

If you own a shared ownership home and would like to sell, this is known as Resale. You can sell the share you currently own in your home. We aim to find you a buyer within the nomination period according to the terms of your lease. A fee is charged for this service.

If we cannot find a buyer for you within the nomination period, you are free to sell your home on the open market either through an estate agent to someone who meets the Homes England and Greater London Authority (GLA) criteria for Shared Ownership.

Ready to sell your home?

Our Resale Pack has some useful information to assist you. See a list of solicitors, photographers, independent financial advisors and an RICS surveyor who are experienced with shared ownership. (You are free to use suppliers not listed here).

When you're ready, please send us the following:

Lewisham Council has a specialist resale team who can assist you from enquiry to completion of the sale of your home. Contact hos@lewisham.gov.uk.

Buying more shares in your home (staircasing)

If you already own part of your home through the shared ownership scheme with the Council and want to increase your share, this is possible through a process called ‘staircasing’.

Increasing more shares in your home can be exciting.  Before you do so, we recommend the following:

  • get an idea of how much your home is worth
  • speak to a mortgage lender about how much you can borrow
  • consider the various costs involved, such as valuation fees, legal fees and stamp duty, etc.

Ready to staircase?

Before we can let you know how much it costs to buy further share in your home, we require your property to be valued by an accredited surveyor. You must instruct a surveyor from the Royal Institution of Chartered Surveyors (RICS) to establish the cost of your home.

When you are ready to staircase, please send us the following:

Staircasing administration fee

Before sending through the staircasing application form, please make sure the form is signed and all parts completed. A valid RICS valuation report must accompany the form and the administration fee paid to prevent delays.