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Derby Homefinder

Shared ownership

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Many people find that they can not afford to buy a home in Derby. There are different ways of getting a first step on the property ladder including low cost home ownership.

Low cost home ownership means you can buy a percentage of a property, with a housing association owning the remaining share. You pay rent for the share that you don not own.


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The minimum amount you can buy is usually between 30% and 50%. 

You will need to employ a solicitor, commission a survey and pay mortgage fees. It is also advisable to have enough savings for a mortgage deposit of 5% of the amount that you will be borrowing. It is suggested that you will need a minimum of £3000 - £5000 to meet these costs.

Most people will need to borrow money in the form of a mortgage to fund their part-purchase of a property. Mortgage lenders will be able to give you advice on the different types of mortgages that are available and the interest rates that will be fixed to the repayments.

 For shared ownership properties see



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