London Borough of Barnet

Shared ownership

New housing in Grahame Park, Barnet Council

What is Shared Ownership?

  • Shared ownership is a scheme that helps you buy your own home. It enables single people, couples and families to make the first step towards buying a home that they could not afford otherwise.
  • You can buy an affordable share of a property with a mortgage, your savings or both. You will pay rent for the share that you do not own.
  • You can buy more of the property later, in stages, if you wish. This is known as "staircasing".  

Where to find details of properties for sale

  • We currently publish the details of the cost and income level needed for each Shared Ownership property in Barnet. These vary for each scheme depending upon the size and value of the property and the portion you want to buy. The figures are carefully worked out by the housing association and the income will be the lowest possible amount.
  • If you are interested in one of these properties, please contact the housing provider directly, all telephone numbers are  provided. Priority is given to existing council and housing association tenants, as this releases homes for the council to re-let.
  • You can use the First Steps website to check if you are eligible, register your details and property preference by creating a customer user account and then search for a home that meets your needs.  You can then contact the housing provider directly. 

For information on all Shared Ownerships properties in London (including Barnet) please go to the First Steps website.

Am I eligible?

  • You have a gross household income of no more than £66,000 per annum when eligible to purchase or rent a one or two bedroom home or no more than £80,000 per annum when eligible to purchase or rent a family sized home (three or more bedrooms).
  • You are unable to purchase a suitable home to meet your housing needs on the open market.
  • You do not already own a home or you will have sold your current home before you purchase or rent.

    What to do next.

    The housing association will ask you to fill in their own application form and invite you to look at the property. The association will then interview you to see whether you can afford to buy the property. You might need to fill in a budget plan showing your monthly expenditure including loans and travel expenses.

    The budget plan makes sure that you will not run into financial difficulties once you have bought your home. You will also need savings to cover the cost of moving, such as legal fees, surveys and stamp duty.

    As well as monthly payments for your mortgage, council tax, water rates and household insurance, you will pay rent to the housing association every month. This is calculated as a percentage of the share you do not own and divided into 12 monthly payments.

    The housing association will increase the rent each year as stated in the lease. This is usually in line with the Retail Price Index. You will also pay a service charge to the housing association which is likely to include communal gardening, building insurance and management costs. Your lease will give you details.

    If your home is new, the builder will be responsible for some repairs for the first 6 to 12 months. Otherwise, you will be responsible for any necessary repairs.

    If you decide to buy more of your home, you will need to pay for the property to be revalued. An independent valuer, appointed by the housing association, will do this before you go ahead. The bigger share you own, the less rent you will pay.

    You can also sell your shared ownership property.

    For an informal chat about Shared Ownership please call our Affordable Housing Liaison Officer on 0208 359 4861.

     Specialist Shared Ownership

    • Older persons Shared Ownership (OPSO)

    Shared Ownership for the over 55's.  It works the same way as general shared ownership but you can buy up to 75% of your home.  Once you own 75% you won't have to pay rent on the remaining share.  For more information contact your local home buy agent on 0300 500 0996.  However, at present, there are no schemes in London, if you are over 55 then please apply for shared ownership as above and also look at

    • Home Ownership for prople with long-term difficulties (HOLD)

    HOLD can help you buy any home that's for sale on a shared ownership basis if you have a long-term dissability.  For more information please go to  or call 08000121333


    Planning and housing licenses

    Building 4,
    North London Business Park,
    Oakleigh Road South,
    London N11 1NP

    Tel: 020 8359 7248