Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

SO Resi Canning Town

by SO Resi

Canning Town, Greater London, E16 4PA

1 bedroom apartments

£101,875 for a 25% share
£407,500 Full Market Value

SO Resi are proud to offer 37 brand new one and two bedroom apartments in the heart of vibrant Canning Town, East London’s Ideal Commuter Hotspot. These superb homes are made financially accessible through SO Resi’s Shared Ownership. SO Resi Canning Town is part of the new sustainable neighbourhood of Manor Road Quarter in the centre of Canning Town. Manor Road Quarter is an exciting mix of new homes, shops, and space for small businesses, set in a site of 2.9 acres, including a lineal park. Cycle routes through the development link it to Star Park, the Peninsula Ecological Park, the Station and Town Centre. It is set to become home to a growing community in a bustling, vibrant new green neighbourhood directly opposite the DLR and Jubilee Line Canning Town Station in the London Borough of Newham. So Resi Canning Town residents will benefit from excellent transport links, a sustainable environment and great local job opportunities, all within 100 metres of the Thames. Canning Town is one of London’s fastest-growing residential areas, close to London’s creative hub, the city centre and Stratford, home to the Olympic Park, Westfield and both Elizabeth Line and Eurotunnel links. The images on this website are computer-generated images (CGIs) which serve as artistic representations and are intended for illustrative purposes only. Actual finishes, materials, landscaping, and architectural details may vary.

Shared ownership

The Hops

by Aster Homes

Dorchester, Dorset, DT1 1GY

4 bedroom houses

£122,500 for a 25% share
£490,000 Full Market Value

SHARED OWNERSHIP HOMES FOR SALE IN DORCHESTER, DORSET.Final 4-bedroom shared ownership homes at Brewery Square in Dorchester, could The Hops be the stunning place you call home?The Hops development and its affordable shared ownership homes give you the chance to jump on the property ladder in Dorset.Want to learn more? You can contact our Dorset expert, Nicci - just use the number or your preferred contact method from the panel to ask your questions, and she'll be happy to help. WHERE IS DORCHESTER?The county town of Dorset, Dorchester is located on the edge of the Dorset Area of Outstanding Beauty, situated approx. 7 miles north of Weymouth and the Jurassic Coastline. Here, you will be able enjoy the charm of a historic market town, the surrounding beauty of the countryside, plus the convenient amenities and transport links of a larger town.Travelling to and from Dorchester by its convenient transport links: Train: Dorchester has 2 train stations connecting you to many places including London, Bournemouth, and Bristol.Car: Access major roads A35 and A37 easily from Dorchester.Bus: There is a regular bus service around Dorchester and connecting to local towns including Weymouth and Blandford.Cycle: Dorchester is part of the Sustrans National cycle network and offer plenty of cycle parking points.THINGS TO DO IN DORCHESTERWith the selection of 1, 3 and 4-bedroom homes that we have for sale on this beautifully situated development, our properties make the perfect home for all!We know the area you choose to call home needs to work for you, so from your brand-new home in Dorchester, Dorset, you'll have so much to do, including:Brewery Square: Enjoy the vibrant complex which is just a short walk from your new home where you can enjoy food & drink at a variety of restaurants, cafes, and bars, indulge in some retail therapy or catch the latest films.Dorchester Sports centre: Join a dance class, visit the gym, or take a relaxing swim - there is something for everyone.Discover history: Explore the Dorset Museumor Hardy's cottageand discover Dorchester's rich history!Experience nature: the local countryside includes many trails and public footpaths including the Dorset Jubilee trail, which offers views across the rolling downs and valleys which make Dorset so beautiful. SHARED OWNERSHIP - GET THE KEYS TO YOUR NEW HOMEYou might have thought that the cost of houses in Dorset would be prohibitive in such a competitive market, but our homes at The Hops are all for sale under our smart, simple shared ownership scheme. You buy a percentage share of a new home and pay rent on the remainder. You can even increase the percentage as time goes on, as your finances permit.You can learn more about how shared ownership works here, or talk to Nicci to have all your questions answered - there's no such thing as a silly one!MAKE AN ASTER HOUSE YOUR HOMEAt Aster, we understand that you want the security of owning your own home. You want to decorate, maybe you want to get that puppy you've been wanting, and you want space for the family to grow. We don't just sell houses; we help you secure a home and your future. If you're interested in these homes for sale at The Hops in Dorset just get in touch with Nicci whenever suits you and she can give you all of the details you need about these stunning 1, 3 and 4 bedroom homes.*While we endeavour to make our property descriptions and plans fair, accurate and reliable, they are only a general guide to the property and may be subject to change. Accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. Shared ownership homes are bought as leasehold properties, for more information speak to our team. Service charges and rent payable on the unsold equity of this property will be reviewed annually with any changes coming into effect on the 1st April each year. Your home may be at risk of repossession if you don't maintain your mortgage and rental payments.CGIs are for illustration purposes only and may not be plot specific. External facing materials and landscaping shown may be subject to change. Internal CGIs have been digitally dressed to give you the impression of how your new home could look. Please contact our team for more information.

Shared ownership

Pershore Road

by Rooftop Housing Group

Evesham, Worcestershire, WR11 2AA

2 bedroom houses

From £135,000 for a 50% share
(From £270,000 Full Market Value)

*FIRST PHASE RELEASED FOR OFF PLAN RESERVATION*? Rooftop Housing Association, in partnership with Stonebond is proud to introduce an exciting collection of 27 shared ownership homes coming soon to Evesham. This well designed development will offer a mix of 2 and 3 bed houses, ideal for first time buyers and growing families. Each home will combine modern layouts with quality finishes, creating comfortable energy efficient living in a well connected location. ‍ This site is located in the picturesque, historic market town of Evesham which sits alongside the River Avon and beautiful Abbey Park. Situated to the West in Hampton, this development is 2 miles away from the town centre. Shops are centred around two long roads with a variety of shops, cafes, banks, hairdressers, beauty salons and restaurants plus a regular market every Saturday. There is a leisure centre, cinema, doctors’ surgery and three supermarkets within a 5 minute drive. The area benefits from several primary and secondary schools all within a 30-minute walk or short drive from this development, including Prince Henry’s High School rated by Ofsted as outstanding. Hampton itself is well served by local amenities including Hampton Farm shop providing locally produced goods and produce. This site is located just 2.2 miles from Evesham Railway Station, where regular services run to Oxford, London, Worcester, and Hereford. The area has excellent transport links with the M5, M40 and M42 providing access to London, Birmingham, Bristol, Cheltenham, and Gloucester. The nearest airport is Birmingham International, which is a 40 minute drive from Evesham. It is under 20 miles from Worcester, Cheltenham and Stratford Upon Avon.

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: