Shared ownership
With major regeneration, growing investment, and focus on culture, infrastructure, and opportunity, Croydon is becoming a promising area for homebuyers and investors.
Find out how to get involved, with Latimer Homes.
How shared ownership works
With shared ownership (also known as part-buy, part-rent) you buy a share of a property.
You’re required to buy the maximum share size you can afford between 10-75%. Then on the remaining share you pay a subsidised rent. You can then increase your share up to 100% and outright ownership whenever suits you.
Buying a share in a property, rather than buying it outright, means you need a smaller deposit and mortgage. This makes shared ownership a really affordable route into home ownership.
Once you’ve bought, you can increase your share in your home whenever you want – all the way up to owning it 100%. And you can sell at any time making shared ownership a great way to invest in your future.
Connected and accessible
Croydon offers excellent transport links:
- 15 minutes to central London and Gatwick Airport
- Over 1,000 trains daily
- Tram, bus and road networks
- Planned East Croydon station and tram service upgrades
Available Latimer homes
Increasing your share with staircasing
One of the benefits of shared ownership is that you can buy what you can afford first and then, when the time suits, you can buy bigger shares until you own your home outright. This is a process known as staircasing.
The cost of your new share depends on the market value of your home at the time you increase your share. This means it may cost more than your first share if the value of your home has gone up, or be cheaper if it’s gone down.
You can staircase as many times as you like to reach 100%. Usually, you must buy shares of at least 10% going up in increments of 5% (eg. 15%, 20%, 25%). Each time you staircase you’ll need to pay the associated costs, such as a property valuation, solicitor fees and mortgage fees.
Why buy with Latimer in Croydon?
Our bright and modern Croydon homes are ready to move into, with shared ownership offering a more accessible route to homeownership.
Backed by Clarion Housing Group, one of the UK’s largest and most trusted housing associations, they're located in a borough with true long-term growth potential.
Find out more about Croydon's future by reading the Croydon Growth Plan, or find out more about shared ownership.
Ready to take the next step?
These fantastic Crescent Gardens and Highcross homes could be the perfect fit for you. If you’re looking for a well-connected, thoughtfully designed home in a borough with a clear future plan, now is the time to act.
Selling your home
You can sell your home whenever you want, whether you own it outright or still pay rent on a share. If its value has increased you keep any profit on your share.
If you own 100% of your home, you can sell it yourself on the open market.
If you haven’t staircased to 100%, there are some restrictions if you want to sell, which will be explained in your lease. Typically, you’ll have to sell through us. This ensures your home is offered to people who need affordable housing. And the landlord you pay rent to has the right to buy it first, this is known as first refusal. Find out more about selling your shared ownership home.