Shared Ownership offers an affordable way to own a home that supports your independence in later life. You buy a share of your property and pay rent on any remaining equity - alongside a service charge - giving you stability, comfort, and peace of mind.
Affordable home ownership for later life
Shared Ownership helps you buy the right home for your needs without paying the full market price.
Most Lace homes are purchased with a 75% share, although smaller shares (from 25%) are sometimes available to make home ownership more accessible.
Not sure which is right for you?
Visit Choosing the right home.
A secure long-term housing solution
Once you reach the maximum share allowed, you no longer pay rent on the remaining portion — giving you lasting security and affordability.
Whether you’re buying a brand-new Lace home or purchasing from an existing homeowner, our team will guide you through every step — making the process clear, supportive, and personal.
Am I eligible for Shared Ownership?
You can apply if you:
Are aged 55 or over.
Are eligible to live in the UK.
Can live independently.
Have sold or will sell your current home when buying your shared ownership property.
All applicants must show they can afford the purchase and associated costs. Our team will help you check benefit entitlement and ensure your new home is affordable and sustainable.
See Affordability and Financial Support page for details.
Shared Ownership
Once your application is accepted, we’ll review it carefully and match you with available homes based on suitability and priority.
We acknowledge applications within five working days and assess them within 21. We look at your housing needs, finances, and preferences to find the best fit for you.
Properties are offered according to availability within the schemes or developments you’ve registered for and your priority banding at the time.
If a suitable home becomes available, we’ll arrange a meeting to confirm eligibility and explain rent, charges, and tenancy terms.
Our Pre-Tenancy and Affordability Services help you prepare for move-in — from setting up a Direct Debit to understanding your tenancy or lease in full.
Frequently asked questions
Most Lace shared ownership homes are leasehold properties for people aged 55 or over. Many are resales — where you buy from an existing owner — while others are brand-new homes built and sold directly by Lace.
Under the Older Persons Shared Ownership (OPSO) model, you can purchase up to 75% of your home and then pay no rent on the remaining share.
Some homes, such as certain apartments at Olsen Court Phase 3 — allow ownership up to 95 %. If you buy less, you’ll pay rent on the unsold portion.
You can later buy more shares (“staircasing”) up to the maximum limit, and our team will guide you through each step.
Your monthly payments will usually include:
a mortgage (if applicable) on the share you own.
a service charge covering building maintenance, insurance, and communal areas.
a contribution to the scheme’s major repair (sinking) funding; and
(if applicable) a small rent on any unsold equity.
Before you buy, we’ll provide a full financial summary and ensure you understand all costs clearly.
Read our Leaseholder Handbook 2025 for more detail.
Your Lace home is designed for quality, comfort, and peace of mind. We maintain the building, communal gardens and spaces so you can enjoy your independence without the stress of upkeep.
And when you need advice or reassurance, our friendly housing team is only a call away.
See Repairs and Maintenance and Customer Service Standards to learn what to expect.
If you decide to sell, contact us first. We’ll guide you through each step — starting with an independent RICS valuation in line with your lease agreement.
We’ll have a nomination period during which we can put forward eligible buyers from our waiting list. If no buyer is found, you may advertise on the open market — but Lace must approve any purchaser to ensure eligibility.
We can also help promote your home by listing it on our website and connecting you with interested applicants.
Ask our Housing Team for a copy of your scheme’s leaseholder factsheet.
You can decorate freely, but structural or major alterations require written permission. We’ll always consider requests fairly and advise on what’s possible within your lease terms.
Under Older Persons Shared Ownership, once you’ve purchased the maximum permitted share (usually 75%), you pay no rent on the remaining portion. For homes with a higher maximum share, such as Olsen Court Phase 3 (95%), you’ll pay rent on the unsold equity.
Yes. You’re welcome to have someone support you at any stage of your application or tenancy.
This depends on the type of home you’re applying for.
For rented homes, waiting times vary based on your priority and the availability of vacancies.
For shared ownership, properties are offered on a first-come, first-served basis once buyers are financially ready to proceed.
We’ll contact you to confirm your interest, arrange a meeting, and offer a viewing.
For shared ownership, we’ll connect you with the seller.
