The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Dudley 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 Dudley, 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 Dudley 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.
If you feel that Dudley could be the ideal place for you to settle down but are worried about getting your foot on the ladder as a first-time buyer, then Shared Ownership homes in Dudley could be the ideal solution for you. Help to Buy homes in Dudley also provide an affordable way to achieve your property aspirations.
Staying up to date with our latest Shared Ownership and Help to Buy properties in Dudley couldn’t be easier. Simply sign up to Share to Buy and register for alerts to discover suitable properties across the UK.
Dudley is a town that manages to respect and cherish its history, while always having an eye on the future. The capital of the Black County has undergone an impressive journey, transforming from a market town to an industrial juggernaut.
It’s marked by many feats of spell-binding architecture which pepper this distinctive location. The likes of Dudley Castle (complete with Dudley Zoo), the Black Country Museum, Dudley Canal and Tunnel, as well as hundreds of listed buildings don’t just look gorgeous but also give Dudley its unique look. They are a statement of identity forged throughout centuries.
Thanks to this, Dudley is also a place with great cultural depth. You can find it in the ruins of Dudley Priory just as you can find it in the many great local businesses. These provide residents with more than just a variety of places to eat, drink and be socialise but also contribute to the mesmerising melting pot which adds up to such an attractive place to live.
Speaking of attractive, it would be impossible to discuss the many delights of Dudley without talking about the beautiful parks and nature reserves. For many, these are the jewel in an already glistening crown. Dudley isn’t only just a stunning place to experience, though. With so many different things to see, do and experience, it’s also a very practical place to live.
The Industrial Revolution which brought so many of these areas to prosperity may be long over, but Dudley has once more adapted to changing times with a diverse economy full of opportunity. This is coupled with excellent transport links, including two train stations, bus services and direct road routes to neighbouring towns, alongside access to the M5, for those who work elsewhere.
Dudley is also an ideal home for young families, boasting a wide variety of primary and secondary schools throughout the area. Another aspect in which Dudley excels is special schools, meaning that no one get left behind from an educational standpoint. For those who want to go further, there’s also Dudley College and several campuses belonging to the Birmingham Metropolitan College. To put it simply, whatever your ambitions for you or your family, you can pursue them all within this unique Midlands town.
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