Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

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Metropolitan, 3 bed homes

Off Etal Lane, Westerhope, Newcastle City, NE5 4BG

Shared ownership

Starting prices

25% share from
Full price
Minimum deposit


Riverside Home Ownership has a selection of 2 and 3 bedroom homes available for Shared Ownership on the flagship Metropolitan development with Keepmoat Homes.

Local area information

Situated in the established suburb of Westerhope, an excellent range of local amenities are on the doorstep. Just a few minutes’ drive from the A1, and 3 miles outside Newcastle, Metropolitan is also in an ideal commuter location.

Plot availability

Plot number TBC
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £44,000
Full market price £176,000
Monthly rent £303
Monthly service charge £30

Quality fitted kitchens

Brushed steel oven, hob and cooker hood

Fresh white paint finishes throughout

Economical gas central heating

Front and rear landscaped gardens

Off road parking


Min share price from: £44,000 for a 25% share
Full price from: £176,000
Minimum deposit from: £3,325
Monthly rent from: £303
Bedrooms: 3
Bathrooms: 1

There is only one available priced at £44,000 for a 25% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Shared ownership

Starting prices

25% share from
Full price
Minimum deposit