Shared ownership retirement homes

Learn all there is to know about our part rent, part buy and our shared ownership scheme options for Platinum Skies retirement homes.

Shared Ownership retirement properties

Our over 55 shared ownership schemes are the affordable way to buy your retirement property. For many people, it's smart, easy and affordable.

Simply pay for a share of your new property, then pay a low regulated rent on the remainder, a low-cost service charge, and a deferred event fee when you sell your property.

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The benefits of shared ownership

Older person's shared ownership is perfect if you’re looking for flexibility. Because you’re only buying a proportion of your new home, you can afford a home that is just right for you and choose how to make your retirement money go further. You might decide not to invest all the equity from the sale of your old home into a new one. You'll be able to decide how much money to leave yourself, so you can feel more financially secure for the future.

Find a property

Afford a high-quality home that's right for you

You choose how much you can afford to pay

Your equity is unlocked, to provide for your future

Maximum value for money with no hidden charges

Rent is set in accordance with Government guidance

Platinum Skies has capped rent increases to a maximum of 6% per annum no matter what happens

You can buy a greater share at a later date

Shared ownership provides me with financial freedom

Shared ownership provides me with financial freedom. The money left over from the sale of my last home covers my rent until I'm 100 meaning that I've been able to give my children some money while I'm here to see them enjoy it.

Mick, Platinum Skies homeowner

Frequently asked questions about shared ownership schemes

What is shared ownership?

Our shared ownership scheme is the affordable way to buy your retirement property. You can live your dream retirement, and make your budget go further. It’s smart, easy and affordable. Pay for a share of your new property, then pay a low regulated rent on the remainder, along with a low-cost service charge.

How much rent will I have to pay if I part buy, part rent and how will that change over time?

You pay a low, regulated rent on the share of the property that you do not own. The amount depends on the price of the property and the share that you can afford.

What is the Deferred Event Fee and when do I pay it?

This fee is charged upon the sale of your Platinum Skies property. The event fee lets us recoup our original investment into the construction of the communal amenities, which typically represent around 30% of the available space. You can enjoy the communal amenities now and pay for them later.

The event fee rises in 2% increments each year, reaching 10% in year 5 of the property's total market value. The event fee; at this point, it is capped, no matter how long you live in your Platinum Skies home.

What is part buy part rent?

Also known as shared ownership, it's a flexible and affordable alternative to outright purchase, with all the benefits of ownership. You purchase a share in the property and pay rent on the part you don't own. Helping you unlock money from your old home to use as you'd like.

Can I change the percentage of the property I own after purchase?

When you purchase your home under the Homes England Scheme, you have the right to buy an additional share of the property up to a maximum of 75% ownership. Once you own 75%, you will not be charged rent on the remaining 25%. This is known as staircasing and full details will be explained by your solicitor during the buying process. The price you pay for an extra share is based on the market value of your home at that time The market value will be set by an independent RICS qualified valuation.

What happens when I want to sell my Platinum Skies property?

Should the time come where you want to sell your Platinum Skies home, we can take care of the whole process from start to finish. We offer Platinum Resales to give you peace of mind that you'll secure a sale, at the full market price, as quickly as possible.

How can I qualify for Shared Ownership?

We have shared ownership schemes suitable for everyone. On some properties we offer the Homes England 'older person shared ownership scheme' (OPSO), this has some eligibility requirements.

You must be over 55
Your annual income must be less than £80,000 per household
The property you're purchasing must be your only property

However, if you don't qualify for OPSO, we have our Platinum Skies shared ownership scheme (PSSO). Our aim is to come up with a flexible solution that works for you.

Shared Ownership

Find out how shared ownership has benefited some of our homeowners.

Meet Mick

Mick talks about his new life at Platinum Skies and how shared ownership has given him peace of mind

Meet Stuart

Stuart explains how he saw the benefits of shared ownership

Meet Gwen

Find out how shared ownership has given Gwen a security blanket

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Shared ownership has given me a security blanket

Shared ownership has given me a security blanket to lean on so that I have that money if I need it. It's a huge amount. Sometimes I can't believe that's my money from the sale of my last home.