Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

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Hampton Woods

by Persimmon Homes

Peterborough, Cambridgeshire, PE7 8US

2 & 3 bedroom houses

£130,000 - £320,000 for a 50% share
£260,000 - £640,000 Full Market Value

Welcome to Hampton Woods – modern living on the edge of Peterborough Set less than three miles south of the city centre, our new houses for sale in Peterborough offer a choice of one, two, three, four and five-bedroom homes in the thriving family-friendly community of Hampton. Here, you can enjoy great local amenities, relaxing green spaces and easy access to the city and countryside beyond. All you need is close by in Peterborough From high street shops to large supermarkets such as Tesco, M&S and ALDI, everything you need is within easy reach. Schools, parks and leisure facilities are all within walking distance, making this a great location for growing families and professionals alike. Beautiful countryside right on your doorstep Hampton Woods is a tree-lined community that makes the most of nature, with plenty of green space for evening walks and weekend fun. It also has Beeby’s North Lake, a popular spot, right next door. Enjoy quick journeys into Peterborough’s bustling centre, explore the many nearby parks or head out into the beautiful Cambridgeshire countryside. Well-connected for work and play With the development just off London Road, you’ll have a direct route into the city. The Fletton Parkway and A1 offer easy commuter links across the region, whether you’re travelling for work or weekend getaways. Ready to make your move? To explore our new houses for sale in Peterborough and start your new build journey, speak to one of our sales advisors. What3Words: ///snack.scoping.studs This development offers the following schemes:New Build BoostDeposit Boost: 5% Deposit Contribution SchemePart Exchange your homeShared OwnershipOwn New Rate Reducer SchemeHome ChangeArmed Forces, Key Workers & NHS Discount SchemeForces Help to Buy Scheme: Support for British Armed ForcesBank of Mum and DadEarly Bird SchemeSchemes are available on selected plots only, subject to status, terms and conditions apply. Contact the development for latest information.Hampton Woods is especially well-situated for local amenities. There’s an Aldi just 2 minutes away, while 0.5 miles away is the Serpentine Green shopping centre with a range of popular brands, eateries, gym and a Tesco Extra Superstore. For more to explore, you can head into Peterborough to visit the vast Queensgate Shopping Centre, numerous cafes and restaurants, and vibrant nightlife and entertainment.There are plenty of peaceful green spaces to enjoy nearby. The development is set between Hampton Community Park and the larger Crown Lakes Country Park, both of which make a great place for peaceful waterside walks. Ferry Meadows in Nene Park is one of the largest country parks in the region and perfect for a fun day out with the family, while for those who like staying active, Peterborough WakePark is just 1 mile away.Monday 10:00 - 17:00, Tuesday 10:00 - 17:00, Wednesday 10:00 - 17:00, Thursday 10:00 - 17:00, Friday 10:00 - 17:00, Saturday 10:00 - 17:00, Sunday 10:00 - 17:00

Shared ownership

Square Roots Hendon

by Square Roots

Hendon, Greater London, NW9 6GP

Studio, 1 & 2 bedroom apartments and 1 bedroom duplexes

£73,125 - £120,000 for a 25% share
£292,500 - £480,000 Full Market Value

SHARED OWNERSHIP HOMES IN HENDON Square Roots Hendon is a new Shared Ownership development of 244 studio, one and two-bedroom apartments and duplexes, ideally positioned along Edgware Road. These thoughtfully designed new build homes benefit from private outdoor space, with residents enjoying access to landscaped communal gardens and a children's play area. The development also provides secure off-street parking alongside generous cycle storage. PERFECT POSITION Commute, work, or play. Wherever you need to be, you're ideally positioned to travel out from London. M1, North Circular, Northern Line. Take your pick of routes. It's just a 14- minute walk to Hendon station and on the A5, it's a straight 7line to Marble Arch. Not to mention nearby Brent Cross, Wembley and more. YOUR HOME, YOUR WAY Integrated appliances, a USB port to all living paces, and a balcony or terrace to every apartment are just some of the features that make up your new contemporary home. For further information please speak to our Sales Executives. BOOK YOUR APPOINTMENT Square Roots Hendon Sales Suite Edgware Road, NW9 6LB

Shared ownership

Haddon Fields

by Cross Keys Homes

Great Haddon, Cambridgeshire, PE7 7AD

2 bedroom houses

From £130,000 for a 50% share
(From £260,000 Full Market Value)

The Great Haddon development is located in the southern suburbs of Peterborough in the village of Yaxley. Provision has been made for retail space, new primary and secondary schools, community facilities and more than 132 hectares of open space. Built by Countryside partnership's, Cross Keys Homes will be providing 66 shared ownership homes on the development, comprising of two and three bedroom homes. They are built to a modern specification and have something to offer everyone, from individuals, growing families & those looking to downsize.

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: