Shared Ownership

What is shared ownership?

Through shared ownership you buy a share of the property and pay rent on the remaining share you do not own. Although both mortgage payments and rent is paid, the total amount is considerably less than the cost of mortgage payments alone if you bought the property outright.

Shared ownership is suitable for people who cannot afford to buy a suitable homes in another way. They must be unable to afford an outright purchase of a similar property in the relevant area.

Although the property will not have been bought outright you will have the normal rights and responsibilities of a full owner occupier.

How does it work?

The share you purchase is funded by a mortgage which you will need to arrange with a bank or building society. The remaining share you don't own is rented from Gŵyr Homes.

The share available for purchase will depend on the development in question. The higher the share you purchase the less rent you will have to pay.