What is Shared Ownership?
Shared Ownership is an affordable home ownership scheme which makes it easier for eligible purchasers to get on the property ladder. Buyers get a mortgage for the share they can afford, and pay rent on the remaining share.
Shared Ownership FAQsFind out more
Does Shared Ownership mean sharing with someone else?
No – this is a common misconception but the ‘shared’ aspect of the scheme simply means you’re sharing ownership of your home with a housing association.
If you decide to buy a Shared Ownership home in Bursledon, you’re effectively purchasing a portion of your property. Your initial share will usually be between 25% to 75%, paying a mortgage on the part that you own and a below market value rent on the remaining share.
Can I ever fully own a Shared Ownership home in Bursledon?
Yes – Shared Owners can choose to buy additional shares in their property by ‘staircasing’.
When buying a Shared Ownership home, you will initially purchase a minimum percentage somewhere between 25% to 75%. Down the line, if you find that your financial circumstances have changed, buyers will have the option to buy more shares.
If you choose to buy a higher percentage, your mortgage repayments will increase while the rent you pay will decrease. In the majority of cases there aren’t any restrictions and you can buy 100% of your home – in this instance, you would become the outright owner.
Do I meet the eligibility criteria for Shared Ownership homes in Bursledon?
As a home-buying product aimed at helping those who can’t afford to purchase a property on the open market, there are certain requirements that buyers will need to meet to be considered eligible for Shared Ownership.
For example, there are caps on household income which means that you must earn less than £80,000 to be eligible for the scheme – or less than £90,000 if you would like to buy a home in London. The criteria also states that buyers must be at least 18 years of age and do not own another property either in the UK or abroad.
How much does Shared Ownership cost in Bursledon?
Shared Ownership properties enable you to put down a smaller deposit compared to those required on the open market – buyers will usually need to put down 5% to 10% of the share that they’re buying, rather than the full market value of the home.
On a monthly basis, buyers will be required to pay their mortgage, a subsidised rent and service charge on their home, however, these repayments often work out cheaper than or equal to renting privately in the same area. Other costs to consider when buying a home include solicitor and mortgage broker fees – you can find out more about these costs on Share to Buy.
Are there Shared Ownership homes in Bursledon?
Share to Buy lists thousands of Shared Ownership homes all across Bursledon and beyond – including new build properties and those available through resale.
Shared Ownership is available on a variety of homes including cosy studios, stylish apartments and traditional family homes. Check out our property search tool to start looking for your new home today!
The steps to find your new Shared Ownership home
Find your home with Share to Buy
Who are Share to Buy?
Share to Buy is the leading online portal for Shared Ownership properties. Established in 2004 as the UK’s first specialist online mortgage broker for affordable home ownership products, the site has since developed into a one stop shop for first time buyers, offering the country’s largest listing of Shared Ownership homes from many of the UK’s biggest housing providers.
Why should I register with Share to Buy?
Share to Buy is the nation’s biggest and best established affordable home ownership property portal, making it the ideal website for first time buyers looking to take that first step onto the property ladder.
Using our property search tool, you can search for homes that suit your needs via filters such as location, number of bedrooms, monthly outgoings and deposit amount. You can also set up alert preferences so you’ll be notified when new properties that meet your search are announced by email.
Acting as a one stop shop for first time buyers, Share to Buy also offers handy FAQs and guides, interactive mortgage tools, mortgage broker and conveyancing panels, and live events to help potential purchasers on their home-buying journey.
Can I advertise my home on Share to Buy?
If you are a housing association or developer selling properties through Shared Ownership, Help to Buy and other affordable home ownership schemes, we can list your new build and resale homes on the Share to Buy property portal.
As well as working alongside Registered Providers, we also partner with private sellers who are looking to sell their current Shared Ownership home.
Shared Ownership Bursledon - Shared Ownership Properties for Sale in Bursledon - Share to Buy
If you’re a first time buyer, then you know just how easy it can be to worry that your home ownership aspirations are beyond reach. Thankfully, Shared Ownership homes in Bursledon could be the answer. They can make that vital first step onto the property ladder more accessible and affordable than you think. Help to Buy homes in Bursledon also offer fantastic options to buyers looking to lay down roots in their dream location.
We make it so quick and easy to stay up to date with the latest Shared Ownership and Help to Buy properties in Bursledon. Simply sign up to Share to Buy and register to receive alerts when new properties are added to your desired market.
The village of Bursledon is not only surrounded by an array of wonderful places, but also manages to bring together so many of the attributes which make all those areas great. This provides what for many people will be the perfect melting pot for a place to call home, whether they be a young professional, a couple or a family.
Bursledon is part of Hampshire and is located just a stone’s throw away from Hamble-le-Rice, Netley, Sarisbury Green and Swanwick, not to mention the city of Southampton and several convenient transport links. This close proximity means that you can enjoy all the benefits of its neighbours. That includes both the cultural marvels of the villages as well as the city which, of course, provides a whole lot in terms of opportunities and modern experiences.
However, you don’t really need to go anywhere if you don’t want to, as Bursledon has its own wonderful culture brimming with history. This is showcased by amazing architecture which boasts its own unique style and personality. On top of that, Bursledon is nestled among some absolutely phenomenal areas of natural beauty. So, if you’re looking for somewhere to explore the great outdoors, you won’t have to look very far.
In fact, you shouldn’t have to look very far for much in Bursledon because alongside its more romantic attributes, this is also a very practical place. You’ll find whatever you need right on your doorstep, with local business providing everything from the weekly shop to a quick bite to eat and somewhere to enjoy a drink or two.
Still, it is great to have the option to travel beyond this charming village’s boundaries with such ease. It just increases the amount of options available to you and that can only be a good thing. There are few places with more variety than Bursledon.
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First time buyer homes available at L&Q at Huntley Wharf, Reading On Saturday 21st May, L&Q is hosting a drop in event for hopeful Shared Ownership buyers at their new development, Huntley Wharf in Reading, taking place between 10am and 4pm. Guests attending on the day will be able to take advantage of L&Q’s ‘Season…
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