Shared Ownership in Somerset - South, Petherton

Not all Somerset shared ownership properties are new build. Homeowners in Somerset who have decided to move out of their current shared ownership home sell their properties too. These are called shared ownership resales.

Shared Ownership is a government home ownership scheme where you part buy and part rent a property. Typically you can buy shares ranging from 10% through to 75% with rent being paid on the remaining share.

Shared Ownership homes are aimed at first time buyers, downsizers or those who used to own a home, but are unable to buy one at the moment. You are eligible if you have a household income that is less than £80,000 per year (in London it is less than £90,000).

Some schemes allow you to buy the whole property, while on others there is a limit. It is best to find the properties you like in Somerset and to ask the Housing Associations or Housing Providers direct what the criteria for outright ownership is.

No, there is not an age limit for those wanting to buy a shared ownership property in Somerset over the age of 18. However, there is a over 55 shared ownership. This scheme makes it possible for those over the age of 55 to still be able to have a shared ownership home in Somerset but they can only own up to 75% of the property. Search for Older Persons Shared Ownership properties

You can filter our your search to just include shared ownership resales.

Use our filters to just search for older people's shared ownership.

No. Although a lot of shared ownership homes will be purchased by first time buyers. They are not just for them. Those who have previously owned before, but no longer do so may also be eligible. Also those downsizing to over 55 properties may be eligible for the shared ownership scheme.

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