How does Shared Ownership work?

Shared Ownership is a government scheme that offers you the chance to buy a share of a property from a housing association, a non-profit-making body that provides homes. Because you only own a part of the property, you can buy it with a smaller deposit and mortgage.

A smaller mortgage means smaller repayments but you’ll also need to pay:

- rent on the share of the property you do not yet own
- monthly service charges
Shared Ownership homes can be new builds, existing properties, houses or flats. All Shared Ownership properties are leasehold, even houses.

Shared ownership information

Shared ownership is a part buy part rent property from a registered landlord
You purchase a share with the help of a mortgage based on your affordability.

Open Market Value: £365,000
40% Share: £146,000
Rent per month: £547.60
Service Charges per month: N/A
Buildings insurance per month: £17.31

The more you buy the lower your rent will be. These costs will increase each year with inflation.

Ground Floor

Entrance Hall

Entrance hall with doors leading to lounge, kitchen/diner, WC and storage cupboard. Stairs to first floor.

Lounge (4.24 x 3.63)

Window to front elevation. Under stairs storage cupboard.

Kitchen/ Diner (4.75 x 3.64)

Fully fitted kitchen with range of fitted wall and base units, worktops, sink unit with mixer tap. Space for fridge/freezer and dishwasher. Double doors leading to rear garden. Area to the side with boiler & washing machine.

Downstairs WC (1.05 x 1.53)

White wash hand basin and low level WC.

First Floor

Wide landing leading to two bedrooms, family bathroom and storage cupboard.

Second Bedroom (4.12 x 2.63)

Double window to rear elevation.

Third Bedroom (2.60 x 3.57)

Window to Front elevation

Bathroom (2.05 x 1.90)

White suite comprising of wash hand basin, low level WC and bath with shower over. Window to rear elevation.

Second Floor

Landing leadings to 2 further bedrooms & WC.

First Bedroom (4.73 x 2.76)

First bedroom located on top floor with 2 Velux windows.

Fourth Bedroom (3.63 x 2.70)

Window to front elevation. Storage cupboard.

WC (2.12 x 1.10)

White wash hand basin and low level WC.

External

Side parking for 2 cars . Rear garden with side access.

Disclaimer

All measurements are approximate. We have not checked the serviceability of any appliances, fixtures or utilities (i.e. water, electricity, gas) which may be included in the sale. We cannot guarantee building regulations or planning permission has been approved and all prospective purchasers should satisfy themselves on these points prior to entering into a contract. Consumer Protection from Unfair Trading Regulations 2008. The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.