Shared Ownership Houses for Sale

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Haddon Abbott

by Platform Housing Group

Peterborough, Cambridgeshire, PE7 3TB

2, 3 & 4 bedroom houses

From £141,000 for a 40% share
(From £352,500 Full Market Value)

Haddon Abbott is an exceptional new development of three and four-bedroom homes for sale in Peterborough, Cambridgeshire. This extensive scheme will help form part of a brand new major settlement in Great Haddon - making up two entire neighbourhoods, a new district centre and employment opportunities in total. Offering fantastic connectivity with Peterborough and the wider rail network, Haddon Abbott is in a prime development for buyers seeking Shared Ownership in Peterborough, featuring all of the amenities that support high-quality, contemporary living. Haddon Abbott is a core part of a larger residential scheme that is developing entirely new neighbourhoods just 7 miles from Peterborough. Featuring two, three and four-bedroom houses for sale, there’s a wide variety of opportunities for buyers seeking affordable, quality homes. Each of the plots within Haddon Abbott feature spacious living areas, downstairs WC, private turfed gardens and air source heating, on top of the usual modern fixtures and fittings. Upstairs you’ll find large bedrooms, often featuring built-in storage cupboards alongside a family bathroom. The option of three and four-bedroom plots make these ideal for families looking to grow. Aside from having access to Peterborough and nearby destinations such as Yaxley and Hampton, residents at Haddon Abbott will benefit from the array of redevelopment within the wider scheme.

Shared ownershipGreen features

The Boatyard

by Sanctuary New Homes

Unstone, Derbyshire, S41 9DZ

3 bedroom houses

£104,000 - £130,000 for a 40% share
£260,000 - £325,000 Full Market Value

Available Now! We’re pleased to present the second phase of The Boatyard, a brand-new collection of contemporary 3 bedroom homes in the tranquil Derbyshire village of Unstone. This fantastic development has something to offer for both first-time buyers and growing families alike. High-quality finishes have been combined with thoughtful layouts and considerately designed interiors to create an attractive and welcoming community. Each home at The Boatyard is available to purchase via Shared Ownership, offering you an easier way to take that first step onto the property ladder. Enquire today to find out more!

Shared ownership

Sunningdale Park

by Gascoigne - Pees

Sunningdale, Berkshire, SL5 0AR

1 & 2 bedroom apartments

£105,625 - £158,125 for a 25% share
(£422,500 - £632,500 Full Market Value)

Welcome to Sunningdale Park, an exclusive new collection of one and two-bedroom homes uniquely nestled in 47 acres of picturesque parkland. Experience a lifestyle perfect to unwind in with nature walks right on your doorstep. Every home is finished to a high specification, with private on-site parking and AEG appliances. Find Ascot and Windsor within easy reach, where you can benefit from the Racecourse and Great Park. Set between Sunningdale and Ascot, your new home is situated in an idyllic countryside setting. You'll also benefit from a fantastic range of local amenities nearby, including prestigious golf courses and leisure facilities. Looking to travel further afield? Nearby Sunningdale station connects you to London in under an hour. Become a part of the local community at the nearby David Lloyd and leisure centres. Spend the weekends enjoying Ascot's cinemas and theatres. World-class spa hotels and restaurants such as Coworth Park and Penny Hill will be just a short drive away. *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.

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: