Buying a Property with Shared Ownership in Surrey

Time Of Info By TOI Staff   October 5, 2022   Update on : October 5, 2022

Shared Ownership in Surrey

Surrey is a county of England that is famous for its natural landscapes and abundance of trees. It is a short distance away from London. It only takes a little more than 40 minutes from Surrey to Greater London.

Many people working in London Live in Surrey and commute to London daily for work. Because of its beauty and convenience, Surrey has become the most popular hotspot for London commuters. Many young people come here to buy their first home.

Why buy a Sage home in Surrey?

Following are some reasons why you should buy a house in Surrey.

  1. Surrey is a well-connected county. Its transportation system can take you to London or other surrounding cities in the shortest time possible.
  2. It is close to London. So, even if you work or study in London, you can easily commute between two places on a daily basis.
  3. House prices are much lower than in London.
  4. Property prices are constantly rising, so a house in Surrey is a good investment.
  5. Surrey is a combination of rural and urban life. It has the peace and quiet of rural life and all the facilities that a city can offer.
  6. It has less pollution so living in Surrey is much healthier and stress-free.

Buying a property with shared ownership in Surrey

You buy a house in Surrey with shared ownership ( only if you can’t afford to buy the house otherwise. Shared ownership is not the best way to buy a home, but it is better than renting. Following are some advantages and disadvantages of shared ownership.


  1. Easier start

Buying a house becomes much easier because you don’t need to buy a home as a whole; you can buy it in fractions. You would need to pay a smaller deposit at the start. Most people can’t afford a house because they can’t pay the initial deposit.

Monthly mortgage payments are usually no different than rent, so you can afford the house as long as you afford the deposit.

  1. You become the house owner

In shared ownership, even though you don’t own the entire house and still pay the rent for the part you don’t own, you still identify as the house owner. That is your house, and no one can ask you to vacate it if you pay your mortgage and rent on time.

When you rent a house, a landlord can ask you to vacate the house at any time. After the notice period is over, you have to leave the house. But in shared ownership, you have the surety that no one can arbitrarily remove you from your home.

  1. Staircasing

In shared ownership, you can buy more shares in your house as you have more money. This way, you can buy the entire house step by step and become the sole owner. That way, you only have to pay the mortgage and no rent.

  1. Sell at anytime

You can sell your shares in the house at any time and make a profit from your investment.


  1. Not for everyone

A shared ownership scheme is not for everyone. You must pass strict eligibility criteria before buying a house through shared ownership.

  1. Can’t rent the house to someone

Once you buy a house through shared ownership, you have to live in it. You can’t just live elsewhere and rent this one to someone else.

  1. Can’t own the land

 As mentioned before, you can buy more shares in your house step by step until you become your house’s sole owner. But even then, you only own the home, not the land. You still have to pay charges for the land to the property Company.

Related Posts