General news
Are you considering purchasing a new home? Perhaps you are looking for somewhere for a loved one? We have a selection of new homes across England that could be the perfect match for you.
Our expert and friendly team are on hand to help you and your loved ones take the next step into your new home. Whether you require care or would like to move closer to family, we offer a range of purchase options to help with your move.
If you are over the age of 55 and wish to register your interest with Housing 21, complete the form at the bottom of this page and we will be in touch to discuss your options.
What is Shared Ownership?
Older person's shared ownership (OPSO) allows you to buy a new home from Housing 21 by purchasing as little as a 25 percent share and then pay rent on the outstanding amount.
The rent payable is subject to annual increases. You can increase the percentage you own (known as staircasing) up to 75 percent. At 75 percent, you will no longer pay rent on the outstanding 25 percent.
The benefits of Older Persons Shared Ownership
There are many benefits of choosing shared ownership with Housing 21. We have listed some of these for you in this section.
Owning a share of a suitable home you may be unable to purchase on the open market.
You are able to purchase at a lower price than on the open market as you will be buying a share rather than the full market price.
It's not limited to first time buyers: existing homeowners can release equity (money) from the sale of their current home to purchase a shared ownership property.
Subject to inflation, it's a chance to build equity.
Newer properties are protected by warranties.
You retain an asset to pass down to your beneficiaries.
If you need our help to sell your Housing 21 property, we may be able to implement our discretionary buy back scheme to purchase the home from you.
As a leaseholder, we will take responsibility for all the structural repairs and buildings insurance.
More information
Here is some more information for you to consider when purchasing a home through Older Person's Shared Ownership.
We are delighted to be working alongside The New Homes Group who can help you achieve a sale on your existing home through Assisted Move.
With experience in both new homes and the second-hand market, the team will undertake all the local valuations on your existing home and, in discussions with ourselves, will help market your home to achieve a sale in the quickest possible time.
You can find out more by visiting their website.
When the time comes for you to sell your Housing 21 property, we may be able to implement our discretionary buy back scheme to purchase the
home from you. Our Home Ownership Team will be able to explain more about this.
Key Information Documents are crucial when buying a shared ownership home. They provide buyers with important details, information, and essential facts, about a shared ownership property, helping you to decide wisely before purchasing.
You can read more about these on the GOV.UK website in the documents Shared Ownership and Affordable Homes Programme 2016 to 2021 and Affordable Homes Programme 2021 to 2026
For more information, we encourage you to read Housing 21's Guide to Older Person's Shared Ownership
Get in touch
If you have any queries about anything on this page, please contact the Housing 21 Home Ownership Team on 0345 6084021 or send them an email at newhome@housing21.org.uk