Shared Ownership Houses for Sale

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Iris

by Auxesia Homes

Goldthorpe, South Yorkshire, S63 9FL

2 & 3 bedroom houses

From £90,000 for a 50% share
(From £180,000 Full Market Value)

Modern homes which offer the perfect blend of town and countryside Development overview In partnership with honey, Auxesia Homes proudly presents five affordable homes at Iris, Goldthorpe. These energy-efficient, contemporary homes are each available for sale on a shared ownership basis, offering a great opportunity for first-time buyers and growing families to step on to the property ladder. Every home benefits from modern aesthetics and high-quality finishes, to provide comfortable, sustainable living. The Buckwheat house type is a well-proportioned, family-friendly 3-bedroom home with spacious interiors, ideal for contemporary living. It boasts open-plan living spaces, and high-quality finishes. The 2-bedroom Avocado house type offers a stylish and compact layout, perfect for first-time buyers or smaller families. These homes provide practical living spaces with modern amenities, ensuring comfort and functionality. Located in the heart of Yorkshire, Iris benefits from excellent transport links, local amenities, and a vibrant, growing community atmosphere. Location overview Iris is nestled in the charming village of Goldthorpe, South Yorkshire. This location offers a perfect balance of rural tranquillity and urban connectivity. Goldthorpe boasts a strong sense of community, while still providing easy access to nearby towns and cities via excellent transport links, including the A1(M) and M1 motorways, as well as nearby train stations. Residents benefit from local amenities, including schools, shops, and leisure facilities, making it a desirable spot for families and professionals alike.

Shared ownership

Gadwall Quarter

by NHG Homes

Woodberry Down, Greater London, N4 2UQ

1, 2 & 3 bedroom apartments

£120,000 - £225,000 for a 25% share
(£480,000 - £900,000 Full Market Value)

Discover an exquisite collection of 1, 2, & 3-bedroom apartments in Woodberry Down Gadwall Quarter blends modern living with natural serenity. The stunning 1, 2, & 3-bedroom shared ownership apartments are surrounded by lush greenery and nestled in the heart of Woodberry Down - a hidden gem in Zone 2. This sought-after location grants easy access to London's cultural landmarks, entertainment venues, and shopping districts, ensuring you'll always have something new to explore. Whether you seek tranquillity in nature or excitement in the city, Woodberry Down offers it all. Gadwall Quarter's architectural masterpiece captures contemporary aesthetics while drawing inspiration from its surroundings, seamlessly integrating into this vibrant community. AVAILABLE UNITS • One bedroom apartments from £120,000 for a 25% share with a full market value of £480,000 • Two bedroom apartments from £158,750 for a 25% share with a full market value of £635,000 • Three bedroom apartments from £225,000 for a 25% share with a full market value of £900,000 Don't miss your chance to secure a 1, 2, or 3-bedroom apartment in this thriving neighbourhood. A carefully considered design balances elements of contemporary aesthetics, taking inspiration from the locality to ensure seamless integration into the community. Parks and open spaces are crucial elements in the design, as they play a vital role in extending and connecting the high-quality natural environment that already exists in the surrounding landscape. The homes themselves have been designed with the demands of modern day living in mind, versatile, open-plan living spaces mean that you can create your perfect home office, while still having enough space to host guests. *Computer generated images are for indicative purposes only. Specifications are correct at time of publication, but are subject to change without notice. Please speak to a member of the Sales team for further details.

Shared ownership

Overbridge Square

by Heylo Shared Ownership

Newbury, Berkshire, RG14 5BB

1 & 2 bedroom apartments

From £53,750 for a 25% share
(From £215,000 Full Market Value)

This development is now available on heylo shared ownership. Overbridge Square is a stunning development of 1 and 2-bedroom apartments designed and built to the highest standards. *Images are for illustrative purposes only. Please speak to Sales Adviser for full details* Key Information about Shared Ownership

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: