Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Cygnets Rest

by Rooftop Housing Group

Drakes Broughton, Worcestershire, WR10 2HB

3 bedroom houses

£146,250 - £176,250 for a 50% share
(£292,500 - £352,500 Full Market Value)

Rooftop Housing Association, in conjunction with Kendrick Homes is pleased to advise of the impending release of 4 shared ownership homes (1 x 2 bed and 3 x 3 bed homes in Drakes Broughton. This well designed development will offer village living with a wildlife ponds, orchard and recreational open space nearby. Each home will combine modern layouts with quality finishes, creating comfortable energy efficient living in a well connected location. Cygnets Rest, is located on the outskirts of the popular market town of Pershore and just 10 minutes from the bustling historic city of Worcester, it is a village known for its rural charm, community atmosphere, and convenient location to the A44 and junction 7 of the M5 motorway. The village offers a blend of traditional countryside appeal and modern conveniences, with easy access to footpaths, two pubs, a village hall, and a recreation ground, providing a peaceful setting with essential amenities. There is a excellent range of schools throughout Worcestershire. Drakes Broughton offers in the centre, St Barnabas C of E First and Middle School which caters for children between the ages of four and twelve plus there are several other good primary schools within a 5-mile radius. The closest Secondary options are at Evesham, Pershore and Worcester which boasts the excellent King’s School and popular Royal Grammar School as well as Tudor Grange Academy and Nunnery Wood High School Local Connnection Criteria will apply. REGISTER YOUR INTEREST NOW TO ENSURE YOU ARE KEPT UP TO DATE WITH THIS EXCITING DEVELOPMENT ‍Price list will be added when properties are released for off plan reservation.

Shared ownership

Ambia

by Gascoigne - Pees

Maidenhead, Berkshire, SL6 8FX

1 & 2 bedroom apartments

£26,500 - £148,750 for a 10% share
(£265,000 - £1,487,500 Full Market Value)

Thoughtfully designed one and two bedroom apartments available on Shared Ownership. These stylish apartments feature an open-plan kitchen / living / dining room with a private balcony. The kitchen is fitted with an oven, hob and hood and the bathroom has a modern, white suite. Specification: • Ample double power sockets with USB points throughout • Telephone point to living room and TV aerial point to living room and bedroom • Space and plumbing for washing machine in utility cupboard • Fitted Symphony kitchen featuring grey soft-close doors and drawers with white units • Removal unit for dishwasher with plumbing and electric provided • Heated chrome towel rail to bathroom Discover the best of town, enjoy a swim or workout at Braywick Leisure Centre, grab a bite at The Maiden’s Head, or browse shops at Nicholsons Shopping Centre. If you fancy something different, Windsor is just 15 minutes by car for a day of culture and history. For younger children, Riverside Primary and St Luke’s C of E are within easy reach of our new build flats in Maidenhead. Older students have plenty of nearby options too, including Desborough College and Furze Platt Senior. Buckinghamshire New University is also close by for higher education. Enjoy effortless travel from these stunning new flats in Maidenhead. A 5-minute walk takes you to the nearest bus stop, while nearby Maidenhead station and the Elizabeth Line offer trains to London in just 25 minutes. Driving? The M4 is close by, and you can reach Heathrow Airport in a speedy 18 minutes. The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. When you’re ready, you can buy more shares until you staircase to owning 100% of your home. Please note, as a Shared Ownership purchase there are likely to be additional legal fees during the conveyancing process, your solicitor can advise you of these. *These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. **Predicted council tax and EPC band: New build properties, band to be determined. ***Service charge is reviewed once a year.

Shared ownership

Final Homes Remaining!

The Silverton

by Regenta

Silvertown, Greater London, E16 2AZ

1 & 2 bedroom apartments

From £36,000 for a 25% share
(From £10 Full Market Value)

£2,500 contribution towards your new home*’ Exciting new development of 1 and 2 bedroom apartments located in The Royal Docks. Situated in London's dynamic East End, Silvertown boasts a history rich with industrial heritage, now evolving into a modern residential haven. If you’ve always dreamt of buying a home in this vibrant locality but face budget constraints, shared ownership could be your answer. We have a selection of 1 & 2-bedroom luxury apartments available for Shared Ownership! This development is conveniently located just a 6 minute walk to Pontoon Dock station, perfect for commuters. *T&Cs apply.

Shared ownership

How does Shared ownership work?

Shared ownership allows you to buy a share of a new house and pay rent on the remaining part. It is a government-backed incentive scheme, primarily aimed at helping first time buyers onto the property ladder. You can also use it to buy a bigger home than you can afford on the open market.

The percentage you can purchase may be different depending on where you buy the home:

In England, you can buy shares of between 10% and 75% of the full market value
In Scotland, you can buy a 25%, 50% or 75% share
In Wales, you can buy shares of between 25 and 75% of what the home is worth

Shared ownership is also known as ‘part-buy, part-rent’.

You will purchase your shared ownership property via a housing association or council. The home will be a new build or a re-sale of an existing shared ownership property, of which you’ll need to purchase the same percentage of shares as the existing owner, or more.

You will need a deposit and a mortgage on your share of the property that you are buying. The remaining share is owned by the housing association or council, and you will pay rent comprising up to 3% of this amount.

Although the housing association may have shares of up to 90% in your home, you will become the owner of the lease. As the leaseholder, you will be responsible for repairs inside the property and the housing association will take care of the outside.

To cover any costs that might be necessary for outside work, you will need to pay a service charge, usually paid monthly. It is a good idea to find out how much the service charge is and factor that into all monthly outgoings before you agree to buy.

Shared ownership eligibility

In England, this scheme is available to those in a household with a combined income of less than £80,000 a year (or £90,000 in London), and you are unable to afford a deposit and mortgage payments on a suitable property for you and your family. In Wales, you must have a combined income of less than £60,000.

There are other criteria you must meet, such as:

being a first time buyer, or
if you used to own a home but can no longer afford to buy outright, or
you want to move from one shared ownership property to another, or
you're setting up a new household, for example after a relationship breakdown, or
you currently own a home, and wish to move but cannot afford to buy outright.

You will also need to have no outstanding credit issues, so make sure you get your finances in order before you apply.

Criteria varies by country, so be sure to check before applying.

A development of Shared Ownership homes in England

What is Staircasing in Shared ownership?

You can buy additional shares of your home, usually in increments of 10%, until you own the majority or all of your home. Some older leases set the minimum amount at 25%, and newer ones may allow you to buy as little as 5% at a time. There are some instances where you may be able to buy 1% shares.

This process is called staircasing and allows you to own more of your home as you earn more money or can afford a bigger mortgage. Each time you wish to purchase more shares, these will be based on the value of the home at the time of buying the shares, and not the value of your home when you first bought it.

You will need to pay for a professional valuation of your property to determine the value of the shares before you can buy them. Buying more shares in your home will also mean paying less rent.

Things to consider before buying a Shared ownership home

There are other factors which may impact your decision on whether shared ownership is right for you:

You will still need a deposit for the mortgage portion of your home, usually between 5% and 10% of the value of the mortgage.
All usual moving fees apply including surveys, stamp duty and legal costs.
If you’re aged 55 or over, you may be eligible for Older People’s Shared ownership (OPSO) but bear in mind, you will only be able to own up to 75% of your home.
If you are a key worker, then a percentage of properties through housing associations will be allocated to those who work for the NHS, police, local authorities, Ministry of Defence and many more. Ask the housing association for more information.

Useful links

Find out more about shared ownership in England

Find out more about shared ownership in Scotland

Find out more about shared ownership in Wales

Shared ownership providers

The following housing associations and developers have shared ownership properties available throughout the UK which you can enquire via this website: