Your First Home and retirement homes: How does it compare with Shared Ownership?

You may have seen the news about a new home-buying scheme and wondered what it could mean for a move in later life. Here's what we know so far, and how Older Persons Shared Ownership (OPSO), our government-backed route into a McCarthy & Stone home, delivered in partnership with Homes England, could work for you today.

What is Your First Home?

Your First Home is a proposed home-buying scheme that's been in the news. At the time of writing, the Government hasn't published a full eligibility document, so it's too early to say who will qualify, which homes will be included, how a deposit would work or whether retirement properties will be part of it.

We'll update this page when the Government publishes the final details. Until then, please don't make a buying decision based on a headline or assume that one scheme replaces another.

Could I use Your First Home to buy a retirement property?

We can't confirm that yet, and we'd rather be honest than guess. It's not yet known whether Your First Home will be available for retirement properties, as the Government hasn't published the final eligibility requirements for the proposed scheme.

If you're thinking about a retirement move now, there's an established option you can explore today: Older Persons Shared Ownership, or OPSO. It's designed for people aged 55 and over in England, and it's available on selected McCarthy & Stone apartments through our partnership with Homes England.

How does Older Persons Shared Ownership (OPSO) work?

With OPSO, you buy a share of your home rather than the whole thing. On selected apartments at participating developments, you can buy a share of between 10% and 75% of the property's full market value, reducing the amount you need to find upfront.

Buy a 75% share and you won't pay any rent on the remaining 25%.
Buy a smaller share and you'll pay rent on the part you don't own, alongside your mortgage or savings contribution.
A service charge is payable separately, in addition to any rent.

What could this look like?

Based on a one-bedroom retirement apartment valued at £255,000 in Exmouth, Devon:

A 50% share would cost £127,500, with monthly rent of around £292.19 on the remaining share.
A 75% share would cost £191,250, with no rent to pay.

Rent on shares below 75% is reviewed annually, broadly calculated using the Consumer Price Index for the previous 12 months plus 1%, so it keeps pace fairly over time.

What could OPSO save you?
On average, our customers have saved around £80,000 by buying through Shared Ownership rather than paying the full purchase price,* and in 2025, 178 people moved into their McCarthy & Stone home this way.* Your own savings will depend on the development, the share you buy and your individual circumstances, so we can't guarantee a specific figure, but it's worth exploring if affordability is a concern.

With OPSO, you may also be eligible to claim up to £500 a year towards essential repairs for ten years. This covers items that supply water and electricity, such as basins, baths, toilets and cables, as well as pipes and drainage for heating and hot water, though not fixtures or appliances such as ovens or washing machines.
Who is eligible for Older Persons Shared Ownership?
OPSO is designed to help eligible people aged 55 and over buy a share of a home in England. Income, property ownership and development-specific eligibility criteria also apply.

To qualify for Older Persons Shared Ownership, you'll generally need to:

Be aged 55 or over.
Have a household income of £80,000 or less a year (£90,000 or less in London).
Own only one property, which must be sold by completion.

Our friendly team can talk you through whether a particular home might be right for you.
How to buy a Shared Ownership retirement property?
If one of our Shared Ownership apartments has caught your eye, here's what happens next:

Eligibility check: Our team explains the process and checks whether you meet the initial criteria.
Full financial assessment: If you're eligible, you're referred to an independent adviser, who'll carry out a full assessment to confirm OPSO is right for you.
Property reservation: Once approved, we confirm your reservation and help with the purchase.
Move-in: You settle into your new McCarthy & Stone home.

How does OPSO differ from part buy, part rent?

Both let you buy a share of your home, but they're separate McCarthy & Stone options with different terms.

OPSO is our government-backed Shared Ownership scheme, delivered with Homes England, with its own eligibility criteria and share range as set out above.

Part buy, part rent starts with a minimum 50% share, and you pay rent on the remainder. McCarthy & Stone retains an equity share of up to 50%, which is repayable at resale, on death or after 50 years, whichever comes first. It doesn't have the same income eligibility criteria as OPSO, though you'll still need to meet the age requirements for the development and, where available, it can be combined with Part Exchange or our Smooth Move removal service.

Shared Ownership isn't available in conjunction with Part Exchange, so for any home that's caught your eye, ask us for the written costs and conditions before you decide.

Your next step

Whichever way you're leaning, look at the full monthly and later-life costs as well as the initial price. Ask about rent, service charges, essential repairs cover, resale terms and any fees due when you sell, so you know exactly where you stand.

Call our friendly consultants on 0800 201 4811 and we'll talk it through.

*McCarthy & Stone data. Savings and figures are illustrative and will vary by development, share purchased and individual circumstances; they are not guaranteed. Qualifying criteria apply. Shared Ownership is available on selected apartments at participating developments only and is not available with Part Exchange. Prices, availability and specifications may change. Please seek independent financial and legal advice before buying under Shared Ownership.