Your Keep Home
Your first step onto the property ladder
We like to do things differently from everyone else, so we have created a ground breaking way for you to purchase, and truly own, Your Keep Home.
- No rent - We don't charge rent on the portion of the home that we still own - this is your home, you shouldn't feel like a tenant
- Cost share - We will pick up our share of the maintenance/service charge costs. I.e. if you own 60% of your home, you will only pay 60% of the costs - why should you pay for something you don't yet own?
- Route to ownership - We facilitate streamlined and straightforward 'staircasing'
As we don’t charge rent on the bit you don’t own, we would normally expect you to purchase a larger percentage of the home on your initial purchase when compared to traditional shared ownership.
We will be here every step of the way to make your dream of full ownership a reality!
Your Keep Homes are ideal for people who want to buy but cannot afford to do so on the open market. This is a part-buy product and is designed for those taking their first steps onto the property ladder (but you don't have to be a first time buyer!)
Unlike other Shared Ownership schemes, we don't charge rent on the bit you don't own, making the monthly cost cheaper than traditional Shared Ownership products on average.
Are you ready for the numbers?
Example
Shared Ownership Comparison
| Open Market Value | £500,000.00 | £500,000.00 |
| Traditional SO 50% Purchase | Your Keep Home 70% Purchase | |
| £250,000.00 | £350,000.00 | |
| Monthly Costs | ||
| Mortgage* | £1,060.00 | £1,483.00 |
| Rent** | £572.92 | - |
| Service Charge*** | £100.00 | £70.00 |
| Total Monthly Costs | £1,732.92 | £1,553.00 |
| KHSO Monthly Saving | -10.38% |
* assuming 2% initial interest rate
** assuming 2.75% rent cost
*** assuming £1200 per year
Unlike traditional shared ownership and other types of affordable home ownership, we don't have any hidden costs or costs that come into effect a few years down the line. The Ethical Housing Market is designed to be fair and equitable, so if you decide you don't want to staircase, that's fine too!
To be eligible for Your Keep Home, you must meet certain criteria:
- Your total household income must be less than £90,000 if in London, or less than £80,000 outside of London.
- You must be unable to afford to buy a suitable property on the open market.
- You must not already own another home.
- For some developments, there may be additional criteria such as priority given to those who currently live or work in the local area.