The following pages answer the common questions you may have when you are thinking about buying a shared ownership home. If you would like further information or would like to know about our current schemes please look at our availability on the home page of our Home Ownership website.
What is Coastline Housing Ltd?
We are a charitable Housing Association providing affordable housing in Cornwall. We own and manage over 5,000 homes with a diverse mix of tenures including: affordable rent, rent to buy, supported housing and shared ownership. We are registered with the Regulator for Social Housing as a Registered Provider.
What is shared ownership?
Shared ownership is a scheme whereby properties are sold on a part-buy, part-rent basis. This means that you buy a share that you can afford in your home and you pay a subsidised rent on the share that you do not own.
All homes purchased through shared ownership are leasehold. This means that you own the property and have the right to occupy it for the length of the lease (usually 99 or 125 years). The freehold will be retained by Coastline. You have the option to buy more shares in the property known as staircasing as and when you can afford to do so. In most cases you can staircase to 100% and own the property outright, acquiring the freehold in the process.
In some rural areas you may not be able to acquire the freehold, there is more information on this within the guide.