Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Pershore Road

by Rooftop Housing Group

Evesham, Worcestershire, WR11 2AA

2 & 3 bedroom houses

£135,000 - £158,750 for a 50% share
(£270,000 - £317,500 Full Market Value)

Phase 1 and 2 now released for early off plan reservation. Please speak to Rooftop for availability. 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

Darwin Manor

by Frank Innes

Boulton Moor, Derbyshire, DE24 5BZ

3 bedroom houses

From £84,000 for a 30% share
(From £280,000 Full Market Value)

These brand-new homes at Darwin Manor in Boulton Moor, Derby offer contemporary living with all the amenities you could want close by. Choose from an attractive range of energy efficient homes, each thoughtfully designed to provide bright, generous living space that adapts perfectly to entertaining, working, family time or simply kicking back in comfort – however you wish to live your life. When you buy new at Darwin Manor, you can look forward to all the benefits of an energy and cost-efficient home along with an exquisite finish you’ll love. The high-quality kitchen and bathroom fittings, abundant storage and ready-turfed private rear garden are all evidence of our trademark close attention to detail. Located in the sought-after suburb of Boulton Moor on the southern edge of Derby, Darwin Manor offers good local amenities in nearby Alvaston Village. Here, a range of shops, restaurants and cafes mean you can easily pick up your daily essentials and catch up with friends over coffee or a bite to eat. Derby city centre is under 5 miles and offers a wider shopping experience, plus a host of attractions. Example of Financial Breakdown, this example is on Plot 148, which is a Hardwick, 3 bedroom mid terrace home: • Full market value: £280,000 • 30% share value: £84,000 • 5% deposit: £4,200 • Rent charged on un-owned share: 2.75% • Monthly Rent on un-owned share £449.17 • Monthly Estimated service charge (Includes buildings insurance): £73.82 This key information document is to help you decide if shared ownership is right for you. Please note that the examples and figures are correct at the time of issue but will change over time in accordance with changes in house prices and the terms of the shared ownership lease. Computer generated images and photography are intended for illustration purposes only and should be treated as general guidance only. Please contact us for pricing information on other available plots.

Shared ownership

Open day 19th September

Perry Barr Village

by Legal & General Affordable Homes

Birmingham, West Midlands, B42 2SY

1 & 2 bedroom apartments

£36,750 - £44,375 for a 25% share
£58,800 - £80,800 for a 40% share
£147,000 - £202,000 Full Market Value

** OPEN DAY EVENT: Saturday 19th September** Join us on Saturday 19th September between 9:30am – 4pm for our exclusive Shared Ownership viewing event at Perry Barr Village, and explore the development and 1 and 2 bed apartments available.We are also offering a £99 reservation fee offer for all reservations made from 1st August - 30th September and £1,000 deposit boost contribution for any 1 bedroom apartment reservations made between 1st September – 31st October. T&C’s apply. Viewings are strictly limited and bookings are by appointment only, so to secure your place call us or request a place via the events page on our website.Welcome to Perry Barr Village a new community in the heart of the West Midlands - Move in now! A superb collection of 1 and 2 bed apartments available to move in now with Shared Ownership, across 3 separate blocks, with attractive communal spaces and a great location in Perry Barr, with Birmingham just 13 minutes away from the nearby station.You will find a new community, designed with high levels of sustainability, with shared public spaces, tree lined streets, with a green central space including a basketball court and children's play area at its heart.These one and two bedroom apartments offer contemporary living with modern interiors finished to high specifications throughout. Presenting a range of designs, the apartments are generously sized and offer high quality kitchens with integrated appliances, flooring throughout and high quality bathroom fittings.Perry Barr is perfectly positioned and is designed with accessible transport in mind - no on-site parking, but everything you need is just steps away, including a great range of local shops and restaurants - the One Stop shopping centre is directly opposite, plus many amenities, schools, parks and open spaces close to hand. with Perry Barr railway station and several bus stops also close by, giving you great options for commuting. For more information, please register or contact our Sales Consultant who will be delighted in helping you find your new home.Available to purchase from a 40% share Financial Breakdown: Full Market Value: £147,000 - £227,50040% Share Value: £58,800 - £91,0005% deposit of 40%: £2,940 - £4,550Rent on unowned share: £202 - £313 per monthService Charge: £186.13 - £259 per monthCouncil Tax: TBC* Key Features:Available to move in nowConveniently located close to the city centrePerry Barr station opposite - only 13 mins train into Birmingham New StreetLocated opposite the One Stop Shopping centreBeautiful landscaped communal gardensPrivate balcony or terrace to selected apartmentsOven, hob and integrated hoodIntegrated fridge/freezer & dishwasher to most apartmentsFreestanding washer/dryer to utility cupboard WHAT IS SHARED OWNERSHIP?Shared Ownership is a more affordable way to have the security and stability of owning your own home. Shared Ownership is a government backed part buy/part rent scheme designed to help you take that first step on the property ladder. The scheme enables buyers to purchase a share of the value of the home - this is usually between 10 to 75 percent of the value of the property - and pay a subsidised rent on the remaining portion. You have the option to buy a bigger share in the property at a later date (known as Staircasing).Legal & General Affordable Homes are a Registered Provider offering these homes for sale on a Shared Ownership basis. We are creating communities to live, grow and flourish and are committed to removing the stress and anxiety associated with moving house, whilst delivering customer satisfaction and quality new homes.ELIGIBILITY CRITERIA:To be eligible for a home at Perry Barr Village, you'll need to:Have a combined household income under £80,000 per annumNot already own a property, or part of a property, at the time of completing on your purchaseBe unable to purchase a suitable home to meet your housing needs on the open marketHave a minimum of £5,000 to cover the costs of buying a homeCustomers with a live/work connection to Birmingham will be prioritised If you don't meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others, so take a look at our website for more information.Council Tax: TBCCouncil tax bands are TBC and often not released until the property is complete. If you need any guidance, please get in touch with our Sales Consultants otherwise the local authority or the developer may be able to help.Interior dressed CGI images are a representation taken in actual 1 & 2 bed apartments in the Aldridge Collection at Perry Parr Village - styles and layouts vary.

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: