Shared ownership

In Kingston, there is a real need for affordable and suitable housing for our residents. Apart from social rented housing provided by the Council and housing associations, the main type of affordable housing is shared ownership. 

What is Shared Ownership?

Shared ownership allows first time buyers or those who currently do not own a property in the UK or abroad to purchase one. This means that you could get onto the property ladder without overstretching yourself.

In addition, you could have a security of tenure so that as long as your rent and mortgage are paid you can remain in the property.

Shared ownership is a cheap and affordable alternative to purchasing a property if you are unable to purchase one on the open market.

• You can normally purchase a minimum share starting at 25% or more for new builds and resale properties.
• You would pay a subsidised rent on the remaining share and have an option to purchase additional shares (known as staircasing) on the remaining share.
• The rent will decrease as you purchase additional shares. If you eventually purchase 100% of the share you will pay no rent.

More about Shared ownership and other Schemes- Gov.uk

Eligibility

To be eligible for Shared Ownership, you must:

• be a current resident of Kingston Council
• be a first time buyer or do not currently own a property in the UK or abroad   
• have an income of no more than £90,000

Where can I find properties?

You can find shared ownership schemes in Kingston and across London on the Homes for Londoners page.

Other affordable housing schemes

We are always working with partners on schemes designed to make home ownership more affordable for Kingston residents. This webpage will be updated with affordable housing schemes in the borough, including Discounted Market Sales.