Shared Ownership

For those looking to get onto the property ladder, shared ownership is an excellent choice. We have a range of beautiful new homes available for shared ownership across several sites in Cornwall. Start your home buying journey today with Treveth.

Buying a shared ownership home with Treveth

Shared ownership homes, also known as part-buy, part-rent properties, are a type of affordable housing designed to help people who may not be able to afford to buy a home outright on the open market. This housing model allows you to purchase a share of a property while paying rent on the remaining share owned by Perran Housing (Treveth’s housing association). 

 

Learn more about Perran Housing

Here’s how it works

01

Buy a share of the property

Buyers can purchase a share of the property, usually ranging from 25% to 75% of the property’s value. The specific share available can vary on different schemes. If the scheme is subject to a section 106 agreement, the share parameters will usually be determined by this agreement. They can also be set by the Registered Provider or developer.

02

Pay rent on the remaining share

Buyers must also pay rent on the portion of the property they don’t own. The rent is typically set at below-market rates and is paid to Perran Housing.

03

Staircasing

We allow buyers to increase their ownership share over time through a process known as “staircasing”. Buyers can purchase additional shares in the property, reducing the amount of rent they pay. This can be done in increments, depending on the housing association’s rules.

04

Additional costs

Buyers are responsible for additional costs, such as service charges, ground rent (for apartments), building insurance, and maintenance fees. These costs contribute to the upkeep of the communal areas in the development.

05

Leasehold ownership

Shared ownership homes are usually leasehold properties. This means that buyers own the property for a specified period (the lease term) but not the land on which the property is built. In Treveth’s case, the land is owned by Perran Housing.

Find out more

Visit our Residential Developments page to view the current shared ownership properties we have available across our sites in Cornwall. You can sign up to our mailing list via the Contact us page to ensure you are amongst the first to know when future properties will be available.

 

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Am I eligible for a shared ownership home?

You can buy a home through shared ownership if both of the following are true: 

  • Your household income is £80,000 a year or less (£90,000 a year or less in London) 
  • You cannot afford all the deposit and mortgage payments for a home that meets your needs 

One of the following must also be true: 

  • You’re a first time buyer 
  • You used to own a home but cannot afford to buy one now 
  • You’re forming a new household (e.g. after a relationship breakdown) 
  • You’re an existing shared owner and you want to move 
  • You own a home and want to move but cannot afford a new home that meets your needs 

What is Treveth?

Treveth, the Cornish word for ‘Homestead’, is a partnership business set up by Cornwall Council in April 2019 to create new homes and commercial development to benefit people who live and work in Cornwall. We only operate within Cornwall but
are happy to partner with others to deliver our objectives. Treveth has a Limited Liability Partnership (LLP) corporate structure.

What makes Treveth’s homes different?

Treveth’s objective is to improve the quality of new homes in Cornwall, especially in the private rented market. Our homes exceed current minimum space standards, across all tenures, and are designed to help reduce the running costs for occupants through the use of low carbon technologies including solar panels and sustainable energy solutions.

What should I consider before applying?

If you are interested in buying a shared ownership home, it is essential that you carefully review the terms and conditions of the shared ownership scheme, including the rent, service charges, and future staircasing options. Before considering a shared ownership home, you should seek professional advice, evaluate your financial situation, and thoroughly understand all of the terms and conditions.