Buying more shares in your home

You can usually buy more shares in your property as soon as you’ve moved in. Most mortgage providers will consider remortgaging your home, providing you with the money to buy more shares when you can afford to. The most common time to consider staircasing is after your initial mortgage term comes to an end; at that point, you’ll need to speak to your mortgage provider to see if you can borrow more. Or, if you have the cash to buy more, you can do so. Get in touch with Oxford City Council for more information.

There is a new model of shared ownership which means you can buy as little as 1% more shares of your home – This used to be and in some cases still is 5%. This helps you take a gradual approach to owning more of your bricks and mortar. All shared ownership homes built from 2022 onwards will be sold using this model.   You can check your Lease to find out what further % levels of your property you can buy, or alternatively, contact Oxford City Council who will be able to advise you.

The value of the extra share you buy will be based on the full market value of your home at the point you buy it, not on the original purchase price. Remember there will be costs to pay such as solicitors fees whenever you buy a new share, so you would usually buy as much as you can afford from the start.

We know Oxford is one of the least affordable places to own a home in the country. That’s why OX Place is committed to creating great-quality shared ownership homes.

If you think you’re priced out of buying a home in Oxford, shared ownership might just be the solution that makes home ownership possible.

With ownership shares starting between 10% and 75%, you could be a homeowner sooner than you think. The deposit you need will be based on the value of the share you buy, not the full market value of the home, making it even more affordable.

About shared ownership

The costs of buying

How to apply for a home

The buying process

New Model Lease

Living in our homes

Selling your home