How shared ownership can get you on the property ladder in 2025

The dream of owning a home has long felt out of reach for many, especially with rising house prices, high mortgage rates and the financial burden of saving for a substantial deposit. 

But 2025 offers hope, thanks to the government-backed Shared Ownership scheme offered by Plumlife Homes – an accessible, affordable way to step onto the property ladder. 

What is Shared Ownership?

Shared Ownership offers a straightforward, flexible route to homeownership. Instead of purchasing a property outright, you can purchase a share that you can afford – typically between 25% and 75%. In some cases, you can buy from as little as 10% of a home, if that’s the share level that’s affordable to you. 

You would then pay a subsidised rent on the remaining share alongside your mortgage costs. This approach requires a much smaller deposit, making it ideal for first-time buyers or those with limited savings.

In the future, if your circumstances change, you can usually buy more shares of the property, or even purchase it outright through a process called “staircasing”. It really is like buying your kitchen first and then the bedroom a little later on when you can afford to do so!

Whether you’re a single professional, a growing family, or someone re-entering the housing market, Shared Ownership provides an affordable and sustainable path to making your dream home a reality.

Why choose Plumlife?

Plumlife has been at the forefront of making homeownership accessible in the North West for more than 25 years, offering a variety of well-designed, affordable homes through Shared Ownership. From apartments in bustling city centres to spacious family homes in quieter suburbs, Plumlife’s developments cater to a wide range of households, aspirations and lifestyles.

For those curious about how much a Shared Ownership home will cost, Plumlife offers a helpful affordability calculator to estimate monthly payments, providing a clear picture of what you can afford.

You can check that out here.

Real people shared ownership has helped

For many, the idea of homeownership feels impossible until it becomes personal. Meet the people whose lives have been transformed by Plumlife’s Shared Ownership scheme: 

Dania: a journey from uncertainty to security

When Dania first set out to buy her home, she faced the harsh reality of the housing market. With high property prices in the area she wanted to move to, her options seemed bleak. Then she discovered Plumlife.

In 2021, Dania took the leap and purchased a 50% share in a new home in Wythenshawe, Manchester, with the intention of one day owning her home outright. For the first time, she had a space to truly call her own. By 2023, thanks to careful planning and support from Plumlife, Dania turned her dream into a reality and bought her property outright.  

Dania’s advice? “I would definitely recommend the Shared Ownership scheme to anyone else, as it allowed me to buy my own home.” 

Jennifer: building a new life for her family

For Jennifer, a single mother of three, life took an unexpected turn after a breakup. Forced to sell her family home, she found herself starting over in Lancaster, determined to create a stable environment for her daughters. 

Given the high interest rates and cost of living crisis, she thought she was looking at renting or buying a house that she would have a spend a fortune on to bring it up to her standards.

Then Jennifer stumbled across a Shared Ownership property at a Plumlife development, where she was able to secure a 25% share in her home. Not only is she spending less each month compared to privately renting, but her family finally have a place to thrive.

Jennifer said “I dread to think what situation we would have been in had we not found Mabel Gardens. The Shared Ownership scheme has been a godsend for me and my girls. We couldn’t ask for more.” 

Worrall Street: a new standard for affordable living

Launching in Spring 2025, Plumlife’s Worrall Street development offers an exciting opportunity for homebuyers. Situated on the banks of the Manchester Ship Canal, near Salford Quays, Worrall Street features 160 beautifully designed homes, including apartments and townhouses. 

One thing that sets Worrall Street apart is its interior design collaboration with Lynsey Ford, former winner of BBC’s Interior Design Masters. Lynsey has created a bespoke design for shared spaces and show homes, blending affordability with stunning aesthetics. Her work aims to inspire buyers to see how stylish and functional a Shared Ownership home can be, while being mindful of budget constraints.

The location is another standout feature. With Salford Quays’ vibrant culture, bars, and restaurants just a short walk away, and Manchester city centre a quick tram ride from your doorstep, Worrall Street offers the perfect mix of connectivity and community. 

Rent to buy options

For those not quite ready to buy, Worrall Street also offers Rent to Buy apartments. This unique scheme allows you to rent at a discounted rate while saving for a deposit, making homeownership achievable on your timeline. 

Get on the property ladder in Manchester

If homeownership has felt like an unattainable dream, Plumlife’s Shared Ownership scheme is here to change that. With affordable options, supportive guidance, and inspiring developments like Worrall Street, 2025 could be the year you take that first step onto the property ladder.

Visit Plumlife’s website here to explore available homes, understand more about how Shared Ownership works, calculate your affordability, and turn your dream of owning a new home into a reality.