Shared Ownership Houses for Sale

How does it work?

Eligibility

Staircasing

Considerations

Shared ownership houses

Shared ownership

Horlicks Quarter

by SOWN Shared Ownership

Slough, Berkshire, SL1 3QB

1 & 2 bedroom apartments

From £100,625 for a 35% share
(From £287,500 Full Market Value)

Key Features • Brand new Shared Ownership home • Full access to ALL on-site amenities • High specification • Choice of 1 & 2 bedroom homes and different floors • Walking distance to Slough Train Station (Elizabeth line) • On site sales office A stunning collection of brand new 1 & 2 bedroom Shared ownership apartments, built to a high specification and offering purchasers FULL ACCESS to the stunning on-site facilities – this includes a 12-hour concierge service, a cinema room, private residents gym, a home-working hub, rooftop garden and a dedicated residents lounge with seating area, pool table, kitchen and coffee room. Your wellbeing and social life are as important as your apartment at Horlicks Quarter, and residents’ exclusive facilities are designed with this in mind. Now available for ‘Early Bird’ reservations^, these Berkeley Homes built apartments are delivered to a superb standard with some of the key highlights being stone worktops with Bosch integrated appliances to the kitchen, Karndean timber effect flooring to living areas, recessed LED lighting, audio/video door entry system and a 10-year Premier Guarantee. Residents will also benefit from a free two-year membership to the on-site car club. Aquifer House at Horlicks Quarter is an inspiring development that brings new energy and vitality to the heart of Slough. For over a century the Horlicks Factory, with its famous Clocktower and soaring chimney has been one of the most distinctive landmarks in the townscape. Today, the factory and grounds have been sensitively regenerated to create a new community where refurbished historic buildings and new homes sit within carefully planned and curated landscaped gardens with tranquil water features. Aquifer House at Horlicks Quarter represents the best of modern urban living – combining quality homes, excellent residents' facilities, beautiful gardens and a central location. ELIGIBILITY Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee. At Horlicks Quarter you can buy a minimum 10% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home. To be eligible for shared ownership you would need to meet the following criteria: • Your annual household income does not exceed £80,000 • You have a deposit of at least 5% of the share value • You do not own another property or have your name on the deeds or a mortgage for a property worldwide • This will be your only residence • You are a permanent UK resident or have indefinite right to remain Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit. *Service charges are estimated and may subject to change. **These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information. ^ Please note that ‘Early Bird’ reservations do not lock-in your purchase price and the final sale price will be determined by an up-to-date ‘Red Book’ valuation which will be commissioned by Abri Homes prior to finalising full reservations.

Shared ownership

Higham Ferrers

by Platform Housing Group

Sawtry, Cambridgeshire, NN10 8FU

2, 3 & 4 bedroom houses

From £84,000 for a 30% share
(From £280,000 Full Market Value)

Welcome to Higham Ferrers, a brand new development comprising stunning two, three and four-bedroom homes in Northamptonshire, all available via shared ownership. Built in collaboration with HarperCrewe, this development represents a new neighbourhood for the local area, epitomising the inspired design and high-quality you’d expect from a renowned developer. Higham Ferrers itself is a charming market town in Northamptonshire - well connected, full of history and housing all of the necessary amenities for a quality lifestyle. With a reputation as a great place to live and work, Higham Ferrers is home to a range of schools, shops, restaurants and pubs, meaning residents have everything they need on their doorstep. The town’s relatively central location means it’s also well-connected with the wider road network, providing easy access to key cities such as Birmingham, Nottingham, Cambridge and London.

Shared ownership

Moat at Pippins Place

by Moat Homes

East Malling, Kent, ME19 5EY

2 & 3 bedroom houses

Shared ownership in East/West Malling We are pleased to a collection of 2 and 3 bedroom houses for shared ownership at the idyllic Pippins Place in East/West Malling Pippins Place is a beautiful development located within a stone's throw of the vibrant West Malling village centre, where you will be spoilt for choice for pubs, restaurants and shops. Residents of Pippins Place will be able to enjoy walks in the site's very own 9-acre country park as well as the surrounding countryside. Each home will come complete with a fully-fitted modern kitchen with integrated appliances; quality flooring throughout; parking; gardens and excellent storage space. These homes create the perfect space for country living with the added benefit of excellent transport links nearby. We anticipate that our next collection of homes will be available to reserve off-plan from early 2025. Register your interest to be the first to hear when these homes are available to reserve Priority for these homes will go to local people. Please find the full priority details on our Moat Homes website

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: