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Shared ownership houses

SO Resi Peckham

by SO Resi

Peckham, Greater London, SE15 1NL

1, 2 & 3 bedroom apartments

From £106,250 for a 25% share
(From £425,000 Full Market Value)

SO Resi Peckham is a collection of contemporary 1 and 2 bedroom apartments nestled within a beautifully designed development on the ever-evolving Old Kent Road. Bordering Brimmington Park, with its outdoor gym, walking trails and playpark, and with coffee, groceries and outdoor space just downstairs, this is more than contemporary urban housing. It’s a place with an unobtrusive sense of community built in. Welcoming, convenient and grounded – modern Peckham through and through. SO Resi Peckham is a car free development. Residents will not be eligible for a parking permit.
Shared ownership

Keldview Rise

by Thirteen Group

Beverley, East Riding of Yorkshire, HU17 0XL

3 & 4 bedroom houses

From £25,000 for a 10% share
(From £250,000 Full Market Value)

Welcome to Keldview Rise We are thrilled to offer a beautiful range of 3 & 4-bedroom homes for Shared Ownership, exclusively built by renowned builder, Linden Homes in Beverley – a sought-after, historic town with an excellent choice of local amenities. These desirable new build homes are in the attractive and historic market town of Beverley – named in The Times list as one of the best places to live in the north. Located in the green, rolling countryside of Yorkshire's East Riding, Beverley benefits from a good choice of high street shops, as well as banks, supermarkets, a gym, library, and a host of places to eat and drink. Our new build homes for sale have easy access to A-roads and the nearest train station is just a short distance away. Commuters can easily reach Hull, Bridlington, and York, while families with children will find a good selection of Ofsted-rated schools for all ages within easy reach of home. With so many amenities nearby, the collection of houses for sale at Keldview Rise offers the perfect place for first or second time homeowners, growing families or those just looking for a change! Shared Ownership is the home buying scheme you never knew you needed. It’s simple. You buy what you can afford and pay rent on the rest.
Shared ownership

Cholstrey Road

by Connells

Leominster, Herefordshire, HR6 9AL

2 & 3 bedroom houses

From £60,000 for a 25% share
(From £240,000 Full Market Value)

Stonewater is proud to present a collection of two- and three-bedroom semi-detached houses for shared ownership on the outskirts of Leominster. Located on Cholstrey Road, to the west of the town, these new homes benefit from being close to both Leominster’s amenities as well as the glorious open countryside of the Marches. All of the properties benefit from allocated off-road parking and are fitted with PV solar panels which can help to reduce carbon emissions as well as reduce utility bills. The two bedroom homes have a spacious living/dining room at the back which looks out on to a private rear garden, a separate kitchen and a useful cloakroom with WC and hand basin on the ground floor. Upstairs are two good-sized double bedrooms and a contemporary style family bathroom. Occupying a larger footprint, the three bedroom properties also have a spacious living/dining room, a separate kitchen and a cloakroom on the ground floor, whilst upstairs are a family bathroom, two double bedrooms and a single bedroom which could easily serve as a home office. Price example two bedroom homes: Full Market Value - £240,000 40% Share Price - £96,000 Monthly Rent - £330 Service Charge - £64.26 Minimum Deposit Required - £4800 Price example three bedroom homes: Full Market Value - £300,000 40% Share Price - £120,000 Monthly Rent - £412.50 Service Charge - £67.54 Minimum Deposit Required - £6000 Shared Ownership: Shared Ownership is a scheme which enables you to buy a share of a property subject to affordability whilst paying a subsidised rent on the remainder. The more of the property you own, the less rent you pay. This means that monthly outgoings are split into part mortgage and part rent. Once you have bought your initial share, you may be able to purchase the remainder of the property as and when your circumstances change. This is an optional process known as Staircasing. All shared ownership properties are leasehold and therefore usually attract a service charge. In the case of houses, the freehold would usually be transferred to you on 100% Staircasing (subject to lease restrictions) The service charge will include buildings insurance as well as a charge for the cleaning and/or maintenance of any communal areas such as car parks, greenspaces and so on. Maintenance of lifts (where installed) as well as communal grounds in the case of flats may also be included. In some cases, an external organisation may be set up to maintain aspects of communal areas therefore customers may be required to make contributions to a Management Company. Lastly, there may be a requirement to contribute towards something called a reserve fund which is designed as a contingency to cover the costs of any large prospective works. For details about any particular development, please contact us. The Local Area: The development is within convenient walking distance of Leominster town centre, and the wide range of independent shops, cafes, restaurants and pubs the town has to offer. Everyday food shopping is made easy by the proximity of a large Morrisons supermarket less than a mile away. Leominster is also a popular market town, with several regular markets including the Leominster Charter Market, which takes place every Friday in the town’s Corn Square. Corn Square is also the venue for a monthly farmers’ market, held on the morning of the second Saturday each month. And finally, Leominster celebrates its Annual Food Fayre on the first Saturday in September. Schools in the area include a number in outlying villages such as Kingsland, Luston and Stoke Prior; closer to home is Leominster Primary School for pupils aged three to 11-years-old and rated ‘Good’ by Ofsted, and Earl Mortimer College and Sixth Form Centre for pupils aged 11 to 16-years-old and also rated by Ofsted as ‘Good’. Sports enthusiasts are well catered for by Leominster Leisure Centre, a complex which houses a gym, two swimming pools as well as squash, badminton and tennis courts. Gentler outdoor pursuits such as walking, with or without a canine companion, or simply taking in the nature are available at Queenswood Arboretum and Country Park, a few miles outside of the town. This 120-acre area of ancient wooded landscape has at its heart a 47-acre arboretum, which is decorated with spectacular cherry and magnolia blossom in Spring, and flaming red, orange and yellow maple and oak foliage during the Autumn, and is one of the Marches’ more popular seasonal attractions. Leominster is well served by a number of local bus routes as well as its own railway station to the east of the town. Located on the Welsh Marches Line, regular direct rail services operate from the station to Hereford (15 minutes travel time), Cardiff Central and Manchester Piccadilly (one hour and 17 minutes, and two hours travel time respectively). Agents Notes: Please note that all sales particulars and images are for marketing and illustrative purposes only. Plans, computer generated images and photos may contain elements which are not present upon the final completion of the property.
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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: