Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Holmhurst Gardens

by Southern Housing New Homes

Hastings, East Sussex, TN37 7GH

2, 3 & 4 bedroom houses

£85,000 - £117,500 for a 25% share
£340,000 - £470,000 Full Market Value

A collection of spacious 2, 3 and 4 bedroom Shared Ownership houses at Holmhurst Gardens in Baldslow, Hastings. You must have a local connection to the borough of Hastings for your application to be considered at this time which will be reviewed by our Sales Team.Holmhurst Gardens has been shortlisted for the Best New Development in the South at the First Time Buyer Readers' Awards. Help us win by casting your vote below!Vote Now - First Time Buyer Readers' AwardsWelcome to Holmhurst Gardens, a unique collection of high specification Shared Ownership homes carefully curated with its community in mind. Light, bright and spacious homes nestled within vast green open spaces and offering its residents private outdoor space and parking to every home. All brought to you by Southern Housing New Homes, to help you find your perfect new home.Born from its captivating historical past, a new community is born at Holmhurst Gardens. A rare find of stylish and contemporary new Shared Ownership homes for everyday living. Discretely hidden by design yet conveniently located with an array of amenities from local shops to schools right on your doorstep. Be by Hastings seaside within 10 minutes or stay home and take a stroll around the vast tranquil communal gardens and trails. Explore a neighbourhood full of hidden gems, here to offer its residents a new way of life.A peaceful and harmonious community with plenty of space to settle down for you and your family. Tucked away from the hustle and bustle of everyday life, yet close enough to get you where you need to go. Holmhurst Gardens is a pocket of hidden comfort. A safe place to call home, for all the family. With access to daily essentials, your new residence is an enviable prime location that strikes the perfect balance, made for family life. Holmhurst Gardens is well served by key transport links that can get you to London for a day out in the city or stay put and enjoy your regular home comforts closer to home. There really is no place like home. Here you'll be ready to nestle in and settle down, build on new traditions and make the happiest memories. Inside these high-specification homes, everything is designed with quality in mind and convenience is envisioned through every exceptional layout that maximises space and light. With parking, private outside space and plenty of comfort spaces inside, there's everything and more to love.Register your interest*Please note- we are currently only able to accept applications from those who have a local connection to the Borough of Hastings. Please speak to our Sales Team for more details. If you currently do not meet this qualifying criteria, we will keep your details on file and contact you as and when we're able to offer to those without this local connection.

Shared ownership

One & two bed apartments available now!

Cavalier Court

by Legal & General Affordable Homes

Gillingham, Kent, ME4 4RX

1 & 2 bedroom apartments

£53,750 - £66,500 for a 25% share
£215,000 - £266,000 Full Market Value

OVER 85% SOLD!Where tranquil waterfront living meets town living A beautiful collection of 1 & 2 bedroom apartments available with Shared Ownership.Overlooking the historic Chatham Docks, Cavalier Court brings an exciting new community in Chatham, a town well known for its rich maritime history. With a vast range of amenities available and ideally located for commuting, Chatham is the perfect place to call home. Your new home at has been built around your lifestyle including modern, open plan living areas that are full of natural light. Kitchens are streamlined and well equipped, with integrated appliances.Whether it's by road or rail, getting around has never been simpler. Gillingham Railway Station keeps you connected to other areas of Kent and London. By road, the A2 and M2 are just a stone's throw away, offering access to wider road networks. With a bustling high street and town centre, Gillingham has a variety of shops, equipped with essentials for everyday living including The Pentagon Shopping Centre. With over 70 high street favourites, the centre is a great place to splurge, grab a bite to eat or stop for a coffee. Legal & General Affordable Homes is offering a unique opportunity to purchase a new home here through Shared Ownership. Thanks to this scheme, you can get on the property ladder sooner than you think with a lower deposit. Homes at Cavalier Court are ready to move into now.For more information, please register or contact our Sales Consultant who will be delighted in helping you find your new home.Key Features:Indesit electric single oven, ceramic hob and integrated cooker hood Indesit integrated fridge/freezer Indesit freestanding washer/ dryer to utility cupboardBalcony to selected ApartmentsParking to selected plotsTownhouses have private rear garden and paved patio areaClose to a range of local amenitiesGreen open spaces just a stone's throw awayGreat transport connectionsExclusive incentives availableNHBC 12-year build warranty For more information, please register or contact our Sales Consultant who will be delighted in helping you find your new home.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 25 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 apartments 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 Cavalier Court, 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 homePriority will be given to applicants with a living or working connection to Medway Local AuthorityIf 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.For more information, please register or contact our Sales Consultant who will be delighted in helping you find your new home.Council Tax: TBCCouncil tax bands are 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.

Shared ownership

Westcott Rise

by Home Reach Flex

Pershore, Worcestershire, WR10 1RH

3 bedroom houses

From £227,500 for a 65% share
(From £350,000 Full Market Value)

Step into the future at Westcott Rise. A collection of low carbon, precision built, highly energy efficient homes. Located in the beautiful Georgian market town of Pershore on the River Avon, Westcott Rise offers a stunning range of 3 & 4 bedroom homes ideal for stylish living that are already performing in line with Future Homes Standards. *Images are for illustrative purposes only. Please speak to Sales Adviser for full details* Key Information about Shared Ownership

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: