Shared ownership houses for sale | What is shared ownership?

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Ashbrook

by Platform Housing Group

Ashchurch, Gloucestershire, GL20 7GT

2, 3 & 4 bedroom houses

£108,000 - £148,000 for a 40% share
£270,000 - £370,000 Full Market Value

Introducing Ashbrook, a beautiful new collection of homes for sale in Gloucestershire. This stylish collection of two- and three-bedroom homes for sale in Ashchurch is coming soon, ensuring buyers have the opportunity to buy their dream home in a desirable area - Tewkesbury.Ashchurch is the ideal family setting, offering everyday amenities, excellent transport links to major UK destinations and easy access to exceptional outdoor spaces. Tewkesbury is just minutes away and represents one of the most desirable market towns in the country, offering fantastic amenities and a rich heritage with plenty to see and do.The build quality and positioning of the Ashbrook development on Fiddington Lane make it ideal for families seeking a safe and attractive destination, filled with the everyday amenities you need including shops, schools and transport links.Development Features At Platform, we’re excited to be supporting this amazing new development, ensuring residents have an opportunity to buy shared ownership homes in Ashchurch, Gloucestershire. Ashbrook, Fiddington Lane represents a new standard of quality for the Ashchurch property market. This collection of two and three-bedroom homes is experiencing exceptional demand and is built from the ground up to be completely sustainable - utilising Homes England funding to ensure every home is ‘all-electric’ and energy efficient. The development is designed to offer the best of both worlds - modern fixtures and fittings that also facilitate an eco-friendly environment, combining to create a truly contemporary living experience. Read more 10 year build warranty Countryside Location First Phase Schools Nearby Transport links Walking Path

Shared ownership

Poundbury

by Aster Homes

Dorchester, Dorset, DT1 3LL

3 bedroom houses

£146,000 for a 40% share
£365,000 Full Market Value

Homes for sale in Dorchester, DorsetNew build homes through shared ownership in Poundbury, could you be calling this beautiful place home?Where is Poundbury?Poundbury, with a population of approximately 4,100, is situated on the western edge of Dorchester, Dorset's county town, just a mile from Dorchester town centre and all its amenities.With the selection of 3-bedroom homes that we have for sale in beautiful Poundbury our properties make the perfect home for all!Want to learn more? You can call our Dorset expert, Nicci- just use the number or your preferred contact method from the panel to ask your questions, and she'll be happy to help. Poundbury and Dorchester boasts convenient transport links:Train: Dorchester has 2 train stations connecting you to many places including London, Bournemouth, and Bristol.Car: Access major roads A35 and A37 easily from Dorchester.Bus: There is a regular bus service connecting Poundbury to Dorchester and then connecting to local towns including Weymouth and Blandford.Cycle: Dorchester is part of the Sustrans National cycle network and offer plenty of cycle parking points. Interested in something to do?With its own vibrant community, including independent and high street shops, restaurants, a dentist, activity clubs, and a primary school, Poundbury really is a fantastic place to call home. The unique English charm needs to be experienced-we can see why this is such a popular place to live!From your brand-new home in Poundbury, Dorchester, you'll have so much to do, including: Retail Therapy: Poundbury boasts a wide array of businesses to visit and plenty of shops, cafes, restaurants, and a pub - you'll be spoiled for choice! What's better than sitting outside a café with a cup of coffee (and cake!) and immersing yourself the wonderful atmosphere that is Poundbury?Dorchester Sports centre: Join in a dance class, visit the gym, or take a relaxing swim - there is something for everyone.Discover history: Explore the Dorset Museum or Hardy's cottage and discover Dorchester's rich history!Experience nature: Poundbury was designed with green spaces in mind with walking routes, sports areas, playgrounds, and pitches to be enjoyed!Jurassic Coastline: the beautiful Jurassic coastline from Swanage to Lyme Regis is in close proximity where you can visit places such as Weymouth, Portland, and Lulworth Cove. Shared ownership - get the keys to your new homeYou might not know about shared ownership, but it could be just the solution you've been looking for if you want to get a foot on the property ladder. You buy an affordable share, pay rent on the remaining amount, and increase your shares as your finances permit. It allows you to get on the property ladder much more easily than buying outright. You can find out more about how shared ownership works here, or talk to Nicci to have all your questions answered - there's no such thing as a silly one! Make an Aster house your new homeOur aim at Aster is to find you a home, not just a house - and with our fabulous shared ownership approach, you can find a home in a lovely location that may otherwise be out of your reach. Just get in touch!So, if you're ready to find out more about our stunning 2-bedroom shared ownership homes in Poundbury, Dorchester, get in touch with Nicci today! *While we endeavour to make our property descriptions and plans fair, accurate and reliable, they are only a general guide to the property and may be subject to change. Accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. Shared ownership homes are bought as leasehold properties, for more information speak to our team. Service charges and rent payable on the unsold equity of this property will be reviewed annually with any changes coming into effect on the 1st April each year. Your home may be at risk of repossession if you don't maintain your mortgage and rental payments.

Shared ownership

Beaufort Park

by Regenta

Colindale, Greater London, NW9 4GS

1 & 2 bedroom apartments

£100,000 - £123,000 for a 25% share
(£400,000 - £492,000 Full Market Value)

Beaufort Park is a stunning collection of 46 one and two bedroom shared ownership apartments in the heart of Colindale, Northwest London. Perfectly designed for modern living, these homes combine style, convenience, and comfort.

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: