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Shared Ownership growing in popularity outside of London

Making use of Shared Ownership as a way to step onto the property ladder is becoming more popular outside of its traditional stronghold of London, new data from Leeds Building Society reveals.

From 2009 to 2018, the proportion of Leeds Building Society’s Shared Ownership borrowers buying in London decreased from 34% to 13%, as other regions saw growing demand.

The South East continues to be the most popular area to make use of the initiative to enter the property market, with just under a third (30%) of Leeds Building Society borrowers buying in the region.

Areas of the UK experiencing growth in the use of shared ownership in the same period, include the South West (4% of borrowers in 2009 to 13% in 2018), East Midlands (6% of borrowers to 12%), West Midlands (4% of borrowers to 10%) and North West (4% of borrowers to 8%).

Matt Bartle, Director of Products at Leeds Building Society, said: “Shared Ownership has been in existence for 40 years and provides an opportunity for people to step onto the property ladder, particularly for first time buyers, as it’s one way to bring down the size of deposit required.

“London has traditionally been associated with Shared Ownership due to its high property prices, however we’re seeing significant growth in homebuyers in other regions taking advantage of the scheme. The market is strong, healthy and growing across the UK and offers a way to help more people to have the home they want.

“To increase access to Shared Ownership for buyers we used our expertise in the market to develop a bespoke product range, including 95% borrower share mortgages, as we continue to support those less well served by the wider market.”

Shared Ownership, which is celebrating its 40th anniversary this year, enables people to purchase part of a property initially and pay rent to a landlord, usually a housing association, on the remaining share.

Borrowers can then purchase further shares if they wish to increase the proportion of equity they own outright.


Leeds Building Society won the title of Best Shared Ownership Mortgage Lender in the 2019 What Mortgage Awards, its fourth consecutive year of success in this category. It also was named Best Lender for Later Life Lending in the Legal & General Mortgage Club Awards 2019.

The Society operates throughout the UK and in Gibraltar and had assets of £20.7bn at 30 June 2019 (£19.4bn at 30 June 2018). The UK’s fifth-largest mutual is a Best Companies 2* employer and its head office is in the centre of Leeds, where it has been based since 1886.

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