Older Person Shared Ownership retirement homes

How is Older Persons Shared Ownership different from Shared Ownership?

Both Older Persons Shared Ownership (OPSO) and Shared Ownership let you buy a percentage of a property and pay the remaining share in affordable monthly rent. However, with Older Persons Shared Ownership you can buy 75% of the property without paying rent on the outstanding share. Other shares are available with rent.

Older Persons Shared Ownership is only available to people aged 55 and over who meet the eligibility criteria, including the age criteria for the McCarthy Stone retirement development you want to buy in (usually over 60 for Retirement Living and over 70 for Retirement Living PLUS). It makes it easier for senior people to manage finances and cater for future needs.

Find out more about how Older Persons Shared Ownership works.

How does Older Persons Shared Ownership (OPSO) work?

McCarthy Stone’s Older Persons Shared Ownership (OPSO) is run in partnership with Homes England and is ideal for those who want to enjoy the McCarthy Stone lifestyle without paying the full purchase price. OPSO means you can purchase a share of 75% or 50% of the overall property value.

If you choose to buy 75% of the property, you won’t have to pay rent on the outstanding share.
If you buy a 50% share you’ll pay an affordable monthly rent on the remaining 50%. It is only available on select properties.

To qualify for Older Person’s Shared Ownership, you need to be 55 or older. Additionally, there will be age criteria for the McCarthy Stone retirement development you want to buy in (usually over 60 for for Retirement Living and over 70 for Retirement Living PLUS). Apart from that, the main criteria is that you must own only one property and have a household income of less than £80,000 (£90,000 in London).

Find out more about Older Persons Shared Ownership

Is Older Persons Shared Ownership worth it?

Older Persons Shared Ownership makes retirement homeownership more affordable for seniors, so it’s easier to manage finances and cater for future needs.

When you purchase 50% of the property, you’ll pay an affordable monthly rent
When you buy 75% of the property value you don’t pay any rent.

As well as access to more affordable, accessible retirement properties in prime locations up and down the UK, with Older Persons Shared Ownership you are eligible to claim up to £500 a year to help with essential repairs for ten years. This covers items in the home that supply water and electricity such as basins, baths, toilets and also cables, but not fixtures, or appliances such as ovens or washing machines. Pipes and drainage items for heating and hot water are also included.

Find out more about how Older Persons Shared Ownership works.

Who is eligible for Older Persons Shared Ownership?

To qualify for Older Person’s Shared Ownership, you need to be 55 or older. Additionally, there will be age criteria for the McCarthy Stone retirement development you want to buy in (usually over 60 for Retirement Living and over 70 for Retirement Living PLUS). Apart from that, the main criteria is that you own only one property and have a household income of less than £80,000 (£90,000 in London).

Find out more about Older Persons Shared Ownership.

Do all McCarthy Stone developments offer Older Persons Shared Ownership?

No. We offer a wide selection of Older Persons Shared Ownership properties across England. However, not every McCarthy Stone development offers Older Persons Shared Ownership and not all properties at every development are eligible. If you want to know whether a specific development has Shared Ownership available you can message us online or call our friendly Sales Consultants on 0800 201 4811.

Are pets allowed in McCarthy Stone's Older Persons Shared Ownership properties?

Yes! At McCarthy Stone, we understand that pets are an important part of the family. That’s why our pet-friendly policy lets you bring your furry companion with you to the majority of our retirement properties including Shared Ownership homes.

Find out more about Older Persons Shared Ownership.

I'm interested in Older Person's Shared Ownership. Do I need financial advice?

Before entering into an Older Persons Shared Ownership agreement we recommend that you obtain independent financial advice so you know what your new home will cost and that you can afford it.

I'm interested in Older Persons Shared Ownership. Who will own the share of the property I don’t buy?

McCarthy & Stone (Shared Ownership) Limited will become your landlord on the share you don't own.

I'm interested in Older Persons Shared Ownership. Will I need a financial review?

If you'd like to take up our Shared Ownership offer, we require you to have a financial assessment with an Independent Advisor. This is to make sure you can afford the ongoing costs now and if your circumstances change. We will put you in contact with an advisor who has experience of Shared Ownership schemes and can assess your eligibility.

What is Shared Ownership and who are Homes England?

McCarthy Stone’s Older Persons Shared Ownership is run in partnership with Homes England and is ideal for those who want to enjoy the McCarthy Stone lifestyle without paying the full purchase price. OPSO means you can purchase a share of 75% or 50% of the overall property value.

If you choose to buy 75% of the property, you won’t have to pay rent on the outstanding share.
If you buy a 50% share you’ll pay an affordable monthly rent on the remaining 50%. It is only available on select properties.

To qualify for Older Person’s Shared Ownership, you need to be 55 or older. Additionally, there will be age criteria for the McCarthy Stone retirement development you want to buy in (usually over 60 for for Retirement Living and over 70 for Retirement Living PLUS). Apart from that, the main criteria is that you must own only one property and have a household income of less than £80,000 (£90,000 in London).

Find out more about Older Persons Shared Ownership

In Older Persons Shared Ownership, what does the £500 a year for essential repairs include?

With Older Persons Shared Ownership you are eligible to claim up to £500 a year to help with essential repairs for ten years. This covers items in the home that supply water and electricity such as basins, baths, toilets and also cables, but not fixtures, or appliances such as ovens or washing machines. Pipes and drainage items for heating and hot water are also included. Find out more about Older Persons Shared Ownership.

FAQs - Retirement Property Questions

Browse categories