Shared Ownership

Affordable homes through Cornovii Homes

Your first step onto the property ladder

At STAR Housing, we’re proud to offer Shared Ownership homes exclusively through our sister company Cornovii Homes, a Shropshire-based developer creating high-quality, energy-efficient homes for local people.

Shared Ownership is a fantastic way to buy your own home if you can’t afford to buy outright. It’s a part-buy, part-rent scheme that helps you get on the property ladder in a way that suits your budget.

Happy family looking outside window with baby

What is Shared Ownership?

With Shared Ownership, you buy a share of a home (between 10% and 75%) and pay a subsidised rent on the remaining share. Over time, you can buy more shares — this is called staircasing — and in many cases, you can eventually own your home outright.

You’ll need a mortgage for the share you’re buying, unless you have enough savings.

All Shared Ownership homes are leasehold, and your lease will outline your rights, responsibilities, and details like rent, service charges, and buildings insurance.

The Buying Process

  • Find a home – Browse available properties on the Cornovii Homes website
  • Register – Sign up with Shropshire HomePoint
  • Apply – Complete our application form
  • Financial Assessment – We’ll refer you to Metro Finance for a free eligibility check
  • Reserve your home – Pay a £250 reservation fee
  • Appoint a solicitor – Begin the legal process
  • Exchange contracts – Finalise your purchase
  • Move in – Receive your keys and enjoy your new home!

Who Can Apply?

To be eligible, you must:

  • Be aged 18 or over
  • Be a British, EU or EEA citizen
  • Have a household income of £80,000 or less
  • Be unable to buy a suitable home on the open market
  • Not currently own another property

Understanding the Costs

Here are some of the typical costs involved:

  • Reservation Fee – £250 to secure your home
  • Stamp Duty – May apply depending on your share and circumstances
  • Deposit – Usually 5%+ of the share you’re buying
  • Legal Fees – Solicitor costs for conveyancing
  • Mortgage Fees – Arrangement or broker fees may apply
  • Moving Costs – Removals, furniture, fittings, etc.

Staircasing – Buying More Shares

You can increase your ownership over time by buying more shares in your home. This is known as staircasing. The more you own, the less rent you pay — and once you reach 100%, you’ll own your home outright (though leasehold terms may still apply).

Selling Your Home

You can sell your share at any time. Cornovii Homes or STAR Housing may have the first opportunity to find a buyer, but if not, you can sell on the open market. The value of your share will be based on a current market valuation.

Right to Repair

As a shared owner, you have the Right to Repair for certain essential repairs. If qualifying repairs aren’t completed by STAR Housing within a set timeframe, you may be entitled to arrange the work yourself and recover the cost.

Shared Ownership Homes Repairs Responsibilities

Making Home Improvements

You’re welcome to decorate your shared ownership home and make it feel like your own. For larger changes — such as building an extension or removing internal walls — you’ll need to get permission from STAR Housing before starting any work. If the improvements you make increase the value of your home, this could affect the value of your share when you choose to buy more shares (known as staircasing) or decide to sell.

Ready to apply?

If you’re interested or have questions, we’re here to help.

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