FairShare is a shared ownership scheme for Northern Ireland. FairShare allows homebuyers who cannot afford to buy a property outright, to buy a share of a new-build property directly from a housing association and pay rent on the rest.
Start with a share that you can afford
Housing associations in Northern Ireland offer affordable, high-quality new-build properties for sale through the FairShare shared ownership scheme. FairShare homebuyers can buy a starter share of between 50% and 90% and pay rent on the rest. For example; if a couple buys a 50% share of a property from a housing association with a mortgage, they pay an affordable rent on the 50% share still owned by the housing association. FairShare rent is set at 2.5% per annum (subject to annual review).
Buy additional shares later
With FairShare you can take your first steps into home ownership, by purchasing a share of a property that you can afford. Going forward you can budget for buying additional shares in your home, as and when you can afford to. The process of buying further shares in your home is known as staircasing. If you’re thinking about buying further shares in your FairShare property, please get in touch and we will advise you on how to proceed.