Shared Ownership Houses for Sale

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Languard View

by Persona Homes

Dovercourt, Essex, CO12 3TQ

1 bedroom apartments and 2, 3 & 4 bedroom houses

£42,500 - £97,500 for a 25% share
(£170,000 - £390,000 Full Market Value)

Set in a peaceful location on the outskirts of a thriving coastal town, Languard View has lots to offer. Our collection of two, three and four-bedroom homes together with one-bedroom apartments are finished to an exceptional standard. Available with shared ownership they are the perfect choice for taking that first step onto the property ladder. This lovely new development offers easy access to the busy high street of Dovercourt with its many shops, cafes and restaurants. Its rural location means that exploring the county’s coastline and riversides makes it a tranquil retreat, perfect for busy commuters looking for the best of town and country living.

Shared ownership

Gardeners Walk

by Abri Homes

Guildford, Surrey, GU2 8HA

2 & 3 bedroom houses

From £169,750 for a 35% share
(From £485,000 Full Market Value)

Gardeners Walk is a new collection of two bedroom homes set in Guildford, famous for its historic cobbled high street. You’ll have everything you need close by, with a vast range of shops, pubs and eateries to choose from. And, did you know, Guildford's just been named as one of the top places to live in the Southeast by The Times*? Prices start from: Full market value: £485,000. Minimum share value: £169,750 based on a 35% share. Minimum deposit price based on 35% share: £8,487. Estimated monthly service charge: £32 (reviewed once a year). Estimated monthly rent: £722. Estimated monthly mortgage: £916. Reservation fee: £500. Tenure: Leasehold. Length of lease: 990 years. Predicted council tax band: New build properties, band to be determined. *Source - The Times.

Shared ownership

Treeside

by Sovereign Network Group

Loughton, Essex, IG10 3SA

1 & 2 bedroom apartments

£88,750 - £118,750 for a 25% share
(£355,000 - £475,000 Full Market Value)

Last remaining apartments! The final phase of Treeside will be a collection of one and two bed homes available through Shared Ownership. Discover Treeside, on the edges of Epping Forest. A beautiful range of thoughtfully designed homes with car parking spaces. Don’t wait—get in touch with us today! To support you, we’re offering up to £1,500 towards legal fees and mortgage advisor costs when you use our recommended solicitors and independent financial advisor (IFA). Shared Ownership apartment in Essex, located at Borders Lane. Situated within convenient reach of central London 20-minutes from the enchanting 5,900-acre woodland of Epping Forest, the Treeside homes are perfectly situated, offering residents the opportunity to fully immerse themselves in the captivating attractions of the surrounding countryside. The homes at Treeside are built and equipped to the highest standard and are ready to move in. The homes feature open-plan living space, ideal for relaxing or entertaining alike, soft, neutral tones and high-quality flooring, The contemporary kitchen is equipped with integrated appliances as well as a modern bathroom. These homes have been designed with residents' comfort in mind. They are also pet friendly! Live at Treeside and be part of wonderful, new community and live in a development that offers an abundance of open green space to enjoy. Enjoy the carefully considered landscaping and the uninterrupted views the surrounding countryside. Take better care of your body and mind at the on-site Epping Forest Wellness Centre which will require membership. Join up and you will find brand new state-of-the-art facilities. These include a multi-purpose sports hall accommodating a variety of team sports including basketball and badminton, a fully equipped gym, dance and fitness studio, sports treatment rooms along with a café with views over the park. *Priority will be given to people who live or work in the area of Epping Forest District Council. Debden High Street is the main street running through the centre of Debden. It is a local shopping district that serves the residents of the area and provides a range of amenities. On Debden High Street, you can find a variety of shops, including convenience stores, grocery stores, pharmacies, and independent retailers. Easy access to the M11, means you can travel to the nearby towns of Chigwell, Epping and Enfield. Treeside is 0.5 miles from Debden tube station. Debden is Zone 6 on the Central line and offers fast connections into Central London. Mile End - 24 mins Liverpool Street - 30 mins Oxford Circus - 40 mins The sales for this development will be managed by Site Sales.

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: