The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Chichester and nationwide have their homes listed on Share to Buy.
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.
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 Chichester, 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.
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.
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.
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.
Share to Buy lists thousands of Shared Ownership homes all across Chichester 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!
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.
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.
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 homes in Chichester can help first time buyers take those vital steps onto the property ladder, while Help to Buy homes in Chichester can also help property seekers lay down roots in an area they love.
Simply sign up to Share to Buy and register to let us know you want to receive alerts when new properties become available.
Chichester may be the only city in West Sussex, but it is one that boasts a small population and plenty of country charm. It has previously placed in the top three of The Sunday Times list of the Best Places to Live in the South East and, for anyone familiar with the historic cathedral city, it’s not difficult to see why.
Playing a significant role in the Roman invasion, Chichester retains a unique sense of history. Today, the spacious conservation areas and beautiful architecture throughout the city, alongside the famous Chichester Cathedral, make it a truly beautiful place to call home. As well as being a feast for the eyes, there are plenty of things to do and see in the city as well. Thanks to the exceptional Pallant House Gallery and Chichester Festival Theatre, the city has so much to offer in the way of culture. While sporting fans won’t be disappointed by the fast-paced horse racing, golf and motor racing action that takes place at Goodwood, while the nearby South Downs National Park provides the ideal place to spend a day with the family in the great outdoors.
On top of that, Chichester also has excellent educational facilities, low crime rates and fantastic rail connections. Train services connect this city to London in just 90 minutes, with Brighton being 50 minutes away and residents reaching Portsmouth in just half an hour. All this makes Chichester a fantastic place to live for families and young professionals alike.
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