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Buying a resale Older Persons Shared Ownership Property

Enjoy retirement living to the full without paying the full price

Our pre-loved Shared Ownership properties allow you to buy the retirement home of your dreams without paying 100% of the property price. Leaving you free to enjoy the retirement lifestyle you’ve always dreamed of.

What is Shared Ownership?

Older Persons Shared Ownership (OPSO) is an affordable way to purchase your retirement home. Specifically designed for older people, the scheme allows you to buy a share of property and pay rent and service charges on the remaining share. McCarthy Stone’s shared ownership scheme is run in conjunction with Homes England. 

Shared ownership lets you buy a percentage of a home and pay rent and service charges for the share you don’t own. 

What is a Shared Ownership resale property?

Resale properties are homes that a current owner bought through McCarthy Stone’s Shared Ownership scheme and now wishes to sell on. We have a selection of preowned Shared Ownership properties available for you to buy.

When purchasing a resale Shared Ownership property you must purchase at least the share owned by the current owner. However it is usually possible to buy more shares (this is called staircasing) until you own a maximum of 75% of your home. Once you own 75% you won’t have to pay rent on the remaining share.

The benefits of Shared Ownership?

  • Buying a pre-loved, or resale shared ownership home is an affordable way to get the retirement home of your dreams.
  • You can enjoy your retirement to the full without paying the full purchase price.
  • Buying a percentage share of the property allows you to manage your finances to cater for your future needs.
  • You can claim up to £500 a year to help with essential repairs in the first 10 years**.
  • Buying a pre-loved property allows you to join a ready-made community and you can expect the warmest of welcomes. 

Do I qualify for Shared Ownership?

To be eligible for the Homes England Shared Ownership scheme you need to:

  • Check that the property is available as a Shared Ownership sale. 
  • Meet the age-criteria for the McCarthy Stone development
  • Have an annual household income of £80,000 per year or less
  • Only own one property, after buying this preowned Shared Ownership property

Download our Shared Ownership Guide

For everything you need to know about buying a pre-loved Shared Ownership property download our Guide.

What happens next?

  1. Search our range of pre-loved Shared Ownership properties here. If you find a property you like, contact us to arrange a viewing.
  2. If you’re happy to proceed our friendly team will take you through the process and check you meet the initial criteria for the Shared Ownership scheme.
  3. If you meet the initial criteria for the Shared Ownership scheme, you will be referred to an Independent Advisor who will carry out a full financial assessment to ensure Shared Ownership is right for you.
  4. When everything is approved, we can agree a sale price with the seller and secure the property for you.

**This covers items in the home that supply water and electricity such as basins, baths, toilets and also cables, but not fixtures, or appliances such as ovens or washing machines. Pipes and drainage items for heating and hot water are also included.