Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Woodside Meadows

by Manners & Harrison

Hartlepool, County Durham, TS25 1DF

3 & 4 bedroom houses

From £52,500 for a 30% share
(From £175,000 Full Market Value)

Seaton Meadows development is just a couple of miles from the coastal village of Seaton Carew. With great transport links, local amenities, attractions and outdoor spaces, this is an ideal place to invest in your future. The Amber The Amber is a spaciously-designed, semi-detached, three-bedroom family home. Built to a high-quality standard, this property boasts charming designs and modern décor along with energy efficiency throughout. On the ground floor, The Amber consists of a large, open-plan kitchen-diner with sizeable patio doors leading to the private rear garden. In addition, a convenient ground floor w/c accompanies a generously-sized lounge area. The first floor comprises a main bedroom with en-suite shower and washroom as well as two large double bedrooms, a family bathroom and landing with access to the loft space. Located in the lively town of Hartlepool, the new Seaton Meadows development is just a couple of miles from the coastal village of Seaton Carew. With great transport links, local amenities, attractions and outdoor spaces, this is an ideal place to invest in your future. Share advertised is 30% of the full market value of £175,000. The Sage The Sage is a semi-detached, three-bedroom family home offering space and elegance throughout. Built with energy-efficient materials to a high-quality specification, this property delivers superb designs, modern décor and excellent finishes. On the ground floor, The Sage offers a spacious open-plan Howdens fitted kitchen-diner with French patio doors leading to the private rear garden. There is also a convenient ground floor w/c, storage room and a generous-sized living area, along with outside parking for two vehicles. The first floor comprises a main bedroom with en-suite shower and washroom, a sizeable double bedroom and a single bedroom that could easily double as a home office. A family bathroom completes this home with full-height bath tiles, quality finishes and fitted vinyl flooring. Located in the lively town of Hartlepool, the new development of Seaton Meadows is just a couple of miles from the coastal village of Seaton Carew. Thanks to great transport links and no shortage of local amenities, attractions and outdoor spaces, this is an ideal place to put down roots. Share advertised is 30% of the full market value of £185,000. The Jade The Jade is a generously-designed, semi-detached, four-bedroom family home. Built to a high-quality standard, this property presents charming designs, modern décor and energy efficiency throughout. On the ground floor, The Jade comprises a spacious open-plan Howdens fitted kitchen-diner, a convenient separate w/c and a sizeable living area with large patio doors leading to the private rear garden. Outside of the property, you will also find a generous garage space and parking for an additional two vehicles. The first floor consists of a main bedroom with en-suite shower and washroom, another two large double bedrooms, a single bedroom and a stunning family bathroom with modern tiles, fixtures and fittings. Located in the lively town of Hartlepool, Seaton Meadows is a new development just a couple of miles from the coastal village of Seaton Carew. With great transport links, local amenities, attractions and outdoor spaces, this is an ideal place to put down roots. Share advertised is 45% of the full market value of £225,000.

Shared ownership

Siskin Park

by Countryside Homes

Wynyard, County Durham, TS22 5WA

3 & 4 bedroom houses

£144,975 - £160,000 for a 50% share
£289,950 - £320,000 Full Market Value

Shared Ownership available to make your dream home more affordable! Click here to find out how!Stunning local area that has to be seen to be believed - arrange your visit today!Homes include an upgraded specification as standard, with added featured such as flooring packages, vanity units and stunning skylight windowsShow Homes now available - perfectly curated homes with designer features and furniture included!

Shared ownership

Sage Homes @ Abbey Quay

by Sage Homes

Barking, Greater London, IG11 8TG

2 bedroom apartments

£105,875 - £114,500 for a 25% share
£423,500 - £458,000 Full Market Value

Sales Office Launch at Abbey Quay! Join us on Saturday 20th September at 10am - 4pm for the official launch of our brand new Sales Office at Abbey Quay. Exclusive launch day offer - Reserve a new home at Abbey Quay on the day for just £99!* 1 & 2 bedroom apartments available with Shared Ownership. Abbey Quay, situated in Barking's vibrant new riverside district, presents a range of 1 & 2 bedroom apartments built by award-winning, Weston Homes. Blending urban convenience with a cosy neighbourhood atmosphere, Abbey Quay offers the ideal fusion of city living and village charm. Each apartment in this modern village boasts open plan living and a private balcony or terrace, adding to its stylish appeal. Enjoy the scenic beauty of tree-lined streets and breath taking views while having access to on-site amenities such as shops, cafes, restaurants, and inviting communal areas. Discover your shared ownership home today at Abbey Quays. Local area information Barking offers everything at your doorstep. There is a selection of local amenities including supermarkets, eateries, cinemas and much more. Barking station is a 10 minute walk from Abbey Quay and provides regular train services to Canary Wharf and other central London location such as Euston and Victoria. Furthermore, London City airport is a mere 12 minute drive from the development, which offers a selection of domestic and international flights. Key Features -Contemporary kitchens designed by Oakwood Kitchens -High-quality Zanussi integrated appliances and sleek stone countertops -Flooring fitted throughout -Bathrooms with smart technology -Exclusive Residents' Hub for work, relaxation, and socialising -Spacious communal podium garden for outdoor enjoyment -Riverside plaza with convenient amenities -Stunning city views from the upper floors

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: