Do I Need A Deposit For A Housing Association Home?

As a housing association, we commonly get many questions regarding housing association homes. That includes questions around renting, buying, and if you need a deposit.

We can tell you that it’s very likely that you’ll need some sort of deposit prepared for any action you are taking towards a house. If you're renting or buying an Accent Home, the information regarding deposits will be told to you beforehand.

And if there are any potential fees for the future (such as switching from renting to buying), they will be noted in your Tenancy Agreement.

So this blog serves to give you all the information you need surrounding deposits, including what you’ll need a deposit for.

Shared Ownership Homes

As the shared ownership scheme is an initiative for buyers who can’t afford a property at full market value, they will pay the mortgage on the share that they own. Whatever amount remains is paid to Accent Housing as rent.

But in order to qualify for a shared ownership home with Accent Housing, you will need a deposit.

Something that makes shared ownership a popular choice for people (regarding that they’re eligible) is that the money required for the deposit is usually much lower. Especially so when comparing it to the price of purchasing a home outright.

Typically, the deposit we require for a shared ownership property is between 5%-10% of the equity of the share you’re purchasing.

Under the shared ownership scheme, you can start at by purchasing a small share of the home and then work your way up until eventually, you’ve bought 100% of the home. This process is known as ‘staircasing’.

Purchasing Your Home

A government scheme known as Rent to Buy is designed to ease the transition from renting to buying a home.

With Rent to Buy, homeowners have the opportunity to rent a newly built home with a short-hold tenancy at a reduced rate. Then the expectation is that this period of reduced rate – which is around 5 years – will give the renter the chance to save for a cash deposit on the house.

The rental deposit is an amount of money demanded from the tenant by the landlord. It covers any future damage to the property or unpaid rent. This money should be placed in a deposit protection scheme by the landlord, ensuring that it can be returned to the tenant at the end of the tenancy agreement.

Once that 5 year period is over, you either have to buy part of or all of the property.

Of course, you will also need to be prepared to pay a rental deposit and one month’s rent in advance. So if you have the willingness to save up for a deposit, and meet the eligibility criteria, Rent to Buy may be the right choice for you.

Plus, during the five year period that you’re on the Rent to Buy scheme, you are also given the option to buy part of the property under a Shared Ownership scheme.

However, it’s important to remember that after purchasing a share or paying the rental deposit, there’s additional costs. Buying and running a home once its owned comes with costs and once you have purchased the property, you’re liable to pay for said costs.

If you’re thinking about buying a home then talk to us! We can help you with your next steps.

Homes with Accent Housing

All our available homes can be viewed on

Homemade is the experienced property sales team within Accent and offer both new and resale homes. We have properties, including Shared Ownership homes, across the country. We have helped hundreds of people fulfil their ambition of being a homeowner, from Surrey to Yorkshire.

For more information about any of our available properties, contact our dedicated sales team on 0345 678 0552. Or you can send an email to

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