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 Chesterfield, 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 Chesterfield?
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 Chesterfield?
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 Chesterfield?
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 Chesterfield?
Share to Buy lists thousands of Shared Ownership homes all across Chesterfield 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 Chesterfield - Shared Ownership Properties for Sale in Chesterfield - Share to Buy
Are you someone who is trying to get their foot on the property ladder, but it just seems out of reach? If that’s the case, then Shared Ownership homes in Chesterfield could be the ideal solution to get you over that first hurdle. Help to Buy homes in Chesterfield can also assist potential homeowners in putting down roots in an area they are proud to call their own.
If this is something you’d be interested in and you want to keep up to date with properties being announced in the area, then sign up to Share to Buy and register to receive alerts. That way, we can automatically notify you when new Shared Ownership and Help to Buy homes become available in Chesterfield.
With a history that is believed to date all the way back to Roman times, plus countless amazing examples of historical sites and fascinating architecture owing to its long and legendary past, it’s fair to say that Chesterfield has a pretty fascinating story behind it. However, what’s just as important is the present and exciting future that lays ahead of this charming town.
Although Chesterfield proudly wears its unique past on its sleeve – and rightly so, after all, it’s what gives the town its enigmatic sense of individuality and personality – it’s also a modern, forward-thinking place with a love of nature and culture in equal measure.
That’s why, in Chesterfield, you can enjoy a stroll along the canal just as easily as you can have your mind expanded at one of its many museums and art galleries. On top of this, you can indulge in a spot of shopping in one of the biggest open-air markets in Britain or grab a bite to eat from a multi-cultural collection of restaurants and takeaways, all washed down with a drink at the iconic Brampton mile selection of pubs.
Chesterfield might be coloured by the past, but it has proven itself to be so much more, and there might be nowhere better for you to build your future around.
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