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Shared ownership houses

The Maples

by Sanctuary New Homes

Lichfield, Staffordshire, WS13 8GS

2 bedroom bungalows

£76,250 for a 25% share
£305,000 Full Market Value

LAST PLOTS REMAINING.......Available Now! Sanctuary is delighted to present The Maples, a brand-new collection of 2-bedroom bungalows for Older Person's Shared Ownership sale, in Lichfield. This brand-new residential development located in the quiet village of Streethay, Staffordshire - less than a mile away from the historic city of Lichfield is exclusively available for people aged 55+, via  Older Person's Shared Ownership sale. The Maples offers a countryside setting within easy reach of the town centre, making it an ideal location for those looking for a peaceful yet convenient lifestyle. Bungalows are thoughtfully designed and finished to the highest specification, providing comfort and style. Residents will also have free access to a gym on-site at Blackberry Court, as well as access to excellent communal facilities including a restaurant, community garden and hair salon. Older Person's Shared Ownership (OPSO), is an affordable option for those looking to own their home. Under this scheme, you can purchase between 10% and 75% of the home's open market value, paying no rent on the remaining share when you purchase 75%. Please note: all plots are advertised at a 40% share for advertising purposes only. If you'd like to find out more, make an enquiry today. Or, come and visit our Sales Office. We are open Mon - Fri, 10am - 5pm. *A monthly service charge of £388.14pcm applies
Shared ownershipRetirement

Sterling Gardens

by Gascoigne - Pees

Newbury, Berkshire, RG14 5RQ

1 & 2 bedroom apartments

From £56,250 for a 25% share
(From £225,000 Full Market Value)

Welcome to Sterling Gardens, an impressive new development of one- and two-bedroom apartments set around private gardens. This contemporary development benefits from secure allocated parking and is ideally located close to the town centre. These modern-day apartments have been thoughtfully designed and are light, airy and stylish. They feature state of the art appliances and fittings throughout providing a feeling of elegant sophistication. The large open plan living area looks out to the stunning residents’ gardens and boasts stunning views over Newbury and the wider countryside making it the perfect place to entertain family and friends. The individually designed contemporary kitchens features Bosch appliances and bring a chic feel, exuding style. The fully fitted symphony kitchen features handleless cupboards and under unit LED lighting. Beautiful bedrooms are a haven of peace for relaxing and unwinding at the end of a busy day. The main bedroom features mirrored fitted wardrobes with shelving and hanging rail. Elegant bespoke bathrooms have luxury features and are complemented by chrome fittings, natural finish floors, wall tiles to create a serene space and heated chrome towel rail. Newbury is steeped in history and surrounded by some of the UK’s most outstanding countryside providing the perfect mix of vibrancy and relaxation with a fresh, rural feel. This fabulous location and combination of market town ambience with a wealth of retail and leisure opportunities makes Newbury a sought-after location. On your doorstep you have spectacular surroundings including a vibrant arts scene, fine fining to shopping. Big brand names sit side by side with small independent shops and boutiques offering hidden gems, so you never have to venture far. There’s a bi-weekly market and monthly farmers and artisan market with locally sources goods, a must have for any foodie. Once you’ve shopped until you can drop you can relax is one of the many local bars or cafes. Newbury is nestled between the North Wessex Downs and Berkshire Downs in an Area of Outstanding Natural Beauty. An extensive network of public footpaths ensures that within minutes of leaving the town centre you can be immersed in rolling countryside and woodland retreats. Cycle along the towpaths or take the easier option of a relaxing narrowboat trip along the Kennet and Avon Canal. Sterling Gardens offers an easy commute to Reading, London, Oxford, Swindon and Basingstoke making it perfectly located for work and leisure. There are excellent transport links by rail, car, bus and cycle paths. Newbury Station and Newbury Racecourse Station are within nearby walking distance where the journey time to London Paddington is just over 40 minutes. Gatwick, Heathrow, Luton, Stanstead, Southampton and Bournemouth Airports are all within easy reach meaning at Sterling Gardens style, connectivity and relaxation go hand in hand. Key features include: • High-qualify full height double glazed windows • Amtico flooring • Videophone door entry system • TV/ Sky Q provision/ BT fibre broadband point • Architecturally and ecologically designed courtyard garden designed to enhance biodiversity • Private balcony or terrace to every apartment • Lift access • Bike storage spaces available • Car parking spaces available • 10 year build zone warranty cover *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. In order to qualify for the shared ownership scheme the household income must be less than £80,000 a year and you can’t own another property (unless Sold Subject to Contract). 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. Disclaimers o Rent on the unsold share is charged at 1.75% for the first year. For exact costings, please speak to an independent financial or mortgage advisor. o Deposits start from 5% of your chosen share value and depends on lender and product availability. o Typically shares up to 75% are available depending on your affordability. Please speak to a member of team for more information o Please note images used in this listing are for illustration purposes and are not exact to the property. o EPC and Council Tax Bands are to be determined as new builds. **Car parking will be £30 annually
Shared ownership

Meadowcroft Farm

by Midland Heart Housing Association

Nuneaton, Warwickshire, CV11 6YW

2 & 3 bedroom houses

£78,750 - £98,000 for a 35% share
(£225,000 - £280,000 Full Market Value)

Affordable Homes - Exclusive to Midland Heart A selection of Brand New 2 & 3 Bedroom Houses available to buy on Shared Ownership. These properties are located on a new development on the desirable north eastern edge of Nuneaton, close to the A5. The location offers easy access to the A5 & M69. Nearby Nuneaton and Hinckley offer local amenities, shops & restaurants. • 2 Bedroom Houses from £78,750 for a 35% share • 3 Bedroom Semi-detached Houses £98,000 for a 35% share • Option to buy more shares to own 100% of the property in the future Our homes come with an impressive specification as standard including flooring/carpets throughout, modern fitted kitchens with oven & hob, a private garden and parking. The properties are well positioned for Nuneaton Town Centre (3.3 miles) and Hinckley Town Centre (3.5 miles). The location offers easy access the A5 & M69. Nearby Nuneaton and Hinckley offer local amenities, shops & restaurants. Prices 2 Bedroom from £225,000 (100%) 35% share = £78,750 Rent = £335.16 3 Bedroom £280,000 (100%) 35% share = £98,000 Rent = £417.08 Plus the following monthly charges: Management Charge: £22.00 Buildings Insurance: 2 bed £17.30; 3 bed £19.76 Estate Charge: £5.53 Shared Ownership enables you to buy a share of your home and pay rent on the remaining share. The share you can buy ranges between 25% and 75%, depending on what you can afford. This means you'll need a smaller mortgage and deposit to get you started. Once you've brought your new home you can decide to buy more shares in the property. The more shares you buy, the less rent you'll pay. You can keep doing this until you own 100% of your property. The Price advertised is for our target share of 35% and is for illustration purposes only (to give an indication of the cost of purchase, rent, etc); it is not the minimum or maximum that is available for purchase. Other shares are available upon request & will be based on affordability, proceed ability & sustainability. Buyers will be considered on first come first served basis (assuming affordability, proceed ability & sustainability checks are met). Buyers need to demonstrate maximum affordability which will be determined via a Mortgage advisor prior to any agreed sale. Amount advertised is subject to change. An additional monthly rental charge applies that includes rent, buildings insurance, estate and management charge but excludes any mortgage payment. ^Images/photographs shown are for illustrative purposes only & simply represent a typical Midland Heart property.
Shared ownership
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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:

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

Shared ownership providers

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