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Shared ownership houses

Castlestead View

by Housing 21 / Retirement

Kendal, Cumbria, LA9 7FY

2 bedroom apartments and 2 bedroom bungalows

From £60,000 for a 25% share
(From £240,000 Full Market Value)

Castlestead View is an Extra Care scheme in Oxenholme, Kendal. The scheme offers independent living with access to welcoming communal areas and optional on-site care for people over the age of 55. *Terms apply. Two-bedroom apartments are available to buy through shared ownership. Castlestead View has been designed to provide fully accessible facilities for both residents and visitors, which include a restaurant and hair salon that can be used by the community. There is also a residents lounge, activity room, buggy store, laundry room, bathing suite, guest suite, and communal gardens for residents and their guests to enjoy. As well as support from our specialist team, the scheme is managed by a dedicated on-site Housing and Care Manager. The scheme is based in the charming village of Oxenholme in Cumbria, which is only 1.5 miles from the Lake District National Park.
Shared ownershipRetirement

The Quadra Apartments at Cheshunt Lakeside

by B3athome

Cheshunt, Hertfordshire, EN8 9SL

1 & 2 bedroom apartments

From £101,500 for a 35% share
(From £290,000 Full Market Value)

Show home viewings now available to book! Register your interest to find out how to arrange a viewing and reserve your new home. Perfect for first-time buyers looking to get on the property ladder, The Quadra Apartments at Cheshunt Lakeside will offer an exciting new collection of Shared Ownership homes for sale. A new residential neighbourhood, Cheshunt Lakeside forms part of a long-term placemaking masterplan set to bring shops, green open spaces and a new primary school to the area. These properties are for sale through Shared Ownership and range from one-bedroom to three-bedroom apartments. The Shared Ownership homes are arranged around a shared landscaped courtyard and come with either a balcony or private terrace and allocated parking. Please note that priority will go to those who currently live and/or work in the Borough of Broxbourne.
Shared ownership

Kingsley Meadows

by Guinness Homes

Harrogate, North Yorkshire, HG1

2 bedroom houses

From £121,000 for a 40% share
(From £302,500 Full Market Value)

NOW LAUNCHED: Our final 8 semi-detached, 2 & 3 bedroom Shared Ownership homes are now available for applications! Kingsley Meadows is a returning phase to the exceptionally popular development released by Guinness Homes previously in 2021 in the elegant spa town of Harrogate. Kingsley Meadows is less than two miles from the city centre, on the northeast edge towards Knaresborough and York. Looking out to rolling green fields, it has a rural feel, but offers all the convenience of living in a thriving town with excellent commuter links. Homes feature a contemporary fitted kitchen by Symphony and carpets / oak vinyl flooring throughout. These homes also feature Electric Vehicle charge points and a Air Source Heat Pump heating system by Valliant. Accommodating two or three bedrooms with a generous sized family bathroom, an open planned kitchen and dining area with a separate living space and a downstairs WC. Eligibility Criteria Homes must be allocated to customers with a local connection to the area: · The area is defined as Harrogate, Pannal & Burn Bridge. · A person within the household currently lives in the defined local area and has lived there for at least 3 years · or has close family (parents, children, brothers or sisters) ordinarily resident in the area (for a minimum period of 5 years) · or has previously lived in the area for a continuous period of 10 years · or is either in employment or has an offer of employment as their main place of work in the area and is a contract for a minimum of 12 months for at least 16 hours per week. Apply now or call Guinness Homes to book a viewing. Shares available from 25-75%
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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:

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

Shared ownership providers

The following housing associations and developers have shared ownership properties available throughout the UK which you can enquire via this website: