Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Langley Park

by Taylors Estate Agents

Chippenham, Wiltshire, SN15 1GS

1 & 2 bedroom apartments and 3 & 4 bedroom houses

£74,000 - £182,000 for a 40% share
(£185,000 - £455,000 Full Market Value)

Langley Park presents the most centrally located new home development in Chippenham, 1 & 2 bed apartments, 2, 3 & 4 bed houses available, offering unparalleled convenience just a 3-minute walk from the train station. This prime position ensures effortless commutes, with Bath Spa only 15 minutes away and Bristol Temple Meads reachable in just 30 minutes. Chippenham is an ideal family destination, offering both immediate advantages and long-term benefits. Its vibrant high street and nearby retail parks provide a diverse array of supermarkets, popular high street brands, and unique independent shops and cafes. The area also benefits from excellent access to high performing local schools:- Ivy Lane Primary, Monkton Park Primary, Redland Primary, all rated Good by Ofsted, within a mile. Secondary education covered by Hardenhuish School, Abbeyfield School & Sixth Form, Sheldon School — all Good rated and less than ~1.5 miles away. Further education options via Wiltshire College & University Centre, just ~0.3 miles from your doorstep. Green spaces and parks are close by:- Just a few minutes’ walk to John Coles Park and Monkton Park—perfect for morning jogs, leisurely walks, or letting children run free. *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

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

Beaulieu Park

by CHP

Boreham, Essex, CM1 6FU

1 & 2 bedroom apartments

£82,250 - £108,500 for a 35% share
(£235,000 - £310,000 Full Market Value)

CHP are delighted to offer a new build development of 27 stunning mix of one- and two-bedroom apartments and two bedroom shared ownership houses built by Hopkin Homes at Beaulieu Park, Chelmsford. Offering a convenient location, as well as excellent facilities on site and locally. Beaulieu Park is located on the northeastern edge of Chelmsford and offers something for everyone, including: • Amenities on your doorstep. At Beaulieu Square you will find a Sainsbury’s local, coffee shop and more • A brand new onsite mainline train station with a targeted opening date of the end of 2025 • Acres of parkland, meadows, sports areas and allotments • A range of new and existing onsite schools ranging from nursery to high school • An established community with an onsite community centre • Great transport links via the A130 and the A12 This, coupled with excellent local amenities, make Beaulieu Park the ideal setting for your new home. Property features include: • Air Source Heating • Double glazing • NHBC Warranty • Apartments on different floor levels • Private balcony • Allocated parking with Electric Vehicle • Charging Point • Fully fitted kitchen with integrated appliances • Flooring throughout

Shared ownershipGreen features

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: