Shared Ownership Houses for Sale

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Sage Homes @ Abbey Quay

by Sage Homes

Barking, Greater London, IG11 8TG

1, 2 & 3 bedroom apartments

£78,000 - £123,000 for a 25% share
£312,000 - £492,000 Full Market Value

Get a foot in the door at Abbey Quay! 1, 2 & 3 bedroom apartments available with Shared Ownership. You are invited to join us at our Double Open Day | Saturday 5th April & Sunday 6th April | 10am - 4pm This is your opportunity to view our stunning apartments across the 17th floor and find the perfect home for you. Plus, speak with our Financial Advisor on the day to discuss affordability and explore your options. Book your appointment today! Abbey Quay, situated in Barking's vibrant new riverside district, presents a range of 1, 2 & 3 bedroom apartments built by award-winning, Weston Homes. Blending urban convenience with a cosy neighbourhood atmosphere, Abbey Quay offers the ideal fusion of city living and village charm. Each apartment in this modern village boasts open plan living and a private balcony or terrace, adding to its stylish appeal. Enjoy the scenic beauty of tree-lined streets and breath taking views while having access to on-site amenities such as shops, cafes, restaurants, and inviting communal areas. Discover your shared ownership home today at Abbey Quays. Local area information Barking offers everything at your doorstep. There is a selection of local amenities including supermarkets, eateries, cinemas and much more. Barking station is a 10 minute walk from Abbey Quay and provides regular train services to Canary Wharf and other central London location such as Euston and Victoria. Furthermore, London City airport is a mere 12 minute drive from the development, which offers a selection of domestic and international flights. Key Features -Contemporary kitchens designed by Oakwood Kitchens -High-quality Zanussi integrated appliances and sleek stone countertops -Flooring fitted throughout -Bathrooms with smart technology -Exclusive Residents' Hub for work, relaxation, and socialising -Spacious communal podium garden for outdoor enjoyment -Riverside plaza with convenient amenities -Stunning city views from the upper floors

Shared ownership

Open Evening: Thursday 3rd April 4-7pm

Perry Barr Village

by Legal & General Affordable Homes

Birmingham, West Midlands, B42 2SY

1 & 2 bedroom apartments

£60,400 - £81,600 for a 40% share
£151,000 - £204,000 Full Market Value

Shared Ownership Workshop Evening & Viewings - Thursday 3rd April Join us on Thursday 3rd April between 4pm -7pm for our exclusive Shared Ownership workshop event at Perry Barr Village with your chance to view a selection of new Shared Ownership 1 & 2 bedroom apartments available. Two workshops will be taking place - check the times on our events page and reserve your space with our team.----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Welcome to Perry Barr Village a new community in the heart of the West Midlands - register your interest now!A superb collection of 1 and 2 bed apartments available with Shared Ownership, across 3 separate blocks, with attractive communal spaces and a great location in Perry Barr, with Birmingham just 13 minutes away from the nearby station.You will find a new community, designed with high levels of sustainability, with shared public spaces, tree lined streets, with a green central space including a basketball court and children's play area at its heart.These one and two bedroom apartments offer contemporary living with modern interiors finished to high specifications throughout. Presenting a range of designs, the apartments are generously sized and offer high quality kitchens with integrated appliances, flooring throughout and high quality bathroom fittings.Perry Barr provides a great range of local shops and restaurants - the One Stop shopping centre is directly opposite, plus many amenities, schools, parks and open spaces close to hand. While Birmingham is just 4 miles away, with easy access to the A34 and M6 and Perry Barr railway station also close by, giving great options for commuting.For more information, please register or contact our Sales Consultant who will be delighted in helping you find your new home.Available to purchase from a 40% share Financial Breakdown: Full Market Value: £151,000 - £223,50040% Share Value: £60,400 - £89,4005% deposit of 40%: £3,020 - £4,470Rent on unowned share: £208 - £307 per monthService Charge: £185.67 - £258.65 per monthCouncil Tax: TBC* Key Features:Conveniently located close to the city centrePerry Barr station opposite - only 13 mins train into Birmingham New StreetLocated opposite the One Stop Shopping centreBeautiful landscaped communal gardensPrivate balcony or terrace to selected apartmentsOven, hob and integrated hoodIntegrated fridge/freezer & dishwasher to most apartmentsFreestanding washer/dryer to utility cupboard 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 10 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 homes 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 Perry Barr Village, 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 homeCustomers with a live/work connection to Birmingham will be prioritised If 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.Council Tax: TBCCouncil tax bands are TBC and 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.Interior dressed CGI images are a representation taken in actual 1 & 2 bed apartments in the Aldridge Collection at Perry Parr Village - styles and layouts vary.

Shared ownership

Siskin Park

by Countryside Homes

Wynyard, County Durham, TS22 5NN

3 & 4 bedroom houses

£114,975 - £160,000 for a 50% share
£229,950 - £320,000 Full Market Value

Shared Ownership available to make your dream home more affordable! Click here to find out how!Average savings of 64% on your energy bills with a new home - that's over £2200 a year!Stunning local area that has to be seen to be believed - arrange your visit today!

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: