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Shared Ownership for Retirement Properties Explained

What is Older Persons Shared Ownership?

Shared ownership, a welcome home

You might have thought Shared Ownership was simply for first-time buyers. But as part of the government-backed initiative, another part of the scheme is available exclusively to people aged 55 or over.

Buying your new home with Platinum Skies couldn’t be easier or more affordable. It’s all thanks to our partnership with Homes England and our government approved Older Persons Shared Ownership scheme.

How does Older Persons Shared Ownership typically work?

platinum skies shared ownership

Pay for half of your new
Platinum Skies home

shared ownership explained platinum skies

And pay a low rent
on the other half

equity release platinum skies

Enjoy a happy and
healthy retirement

Shared ownership – What’s the catch?

As unlikely as it sounds, there really isn’t one. Along with a small service charge for upkeep and maintenance, the rent can be paid from your pension.

The rental charges and fees are regulated by Homes England, the government provider of shared ownership schemes. And maintenance services are delivered on a not-for-profit basis so charges are kept as low as possible.

If you’re moving from an old family home, you’ll probably make a saving on Council Tax. Fuel bills are likely to be cheaper too, thanks to the energy-efficient quality of our new homes.

How do I apply?

There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet. The criteria for purchasing through the ‘older person shared ownership’ (OPSO) scheme are as follows:

  • You must be at least 55 years old
  • Your annual income must be less than £80,000 per household
  • Shared ownership requires that the property you purchase is your only property

If you don’t qualify for OPSO, we have our own Platinum Skies shared ownership scheme (PSSO) that enables you to right size your home and free up your equity

Customer testimonial at Platinum Skies

“It’s great to share!”

“Platinum Skies’ part-buy, part-rent concept has meant we’re able to move into a modern, brand new apartment with more space than we thought we could afford and still be mortgage free!”

Homeowners at Monterey, Christchurch

To learn more about how shared ownership has helped our customers, get in touch today…

The key benefits of Shared Ownership with Platinum Skies

long term partners shared ownership

Together, we’ll be long-term partners with the same shared interests

equity release platinum skies

Paying just a fraction of your home’s value makes it truly affordable

government backed shared ownership scheme

Peace of mind from the fact that we’re government-backed and regulated

enhance your retirement through shared ownership

Enhance your retirement income immediately and plan for the years ahead

make your money go further shared ownership

Make your money go even further by saving thousands on stamp duty costs

lifestyle options

Live life to the fullest whilst knowing support is there if you need it

Call Us Now

Bring that healthier, wealthier, dream retirement into reality.

01202 805 546

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