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 the East Midlands, 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 the East Midlands?
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 the East Midlands?
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 the East Midlands?
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 the East Midlands?
Share to Buy lists thousands of Shared Ownership homes all across East Midlands 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 East Midlands - Shared Ownership Properties for Sale in the East Midlands - Share to Buy
With Shared Ownership homes in the East Midlands, you can make your money go a lot further than you may realise. Help to Buy homes in the East Midlands can also help you get your foot in the door and give you the boost you need in order to finally settle down in your dream home.
Want to find out about the Shared Ownership and Help to Buy homes available in the East Midlands? Simply sign up to Share to Buy and register to receive alerts, and we’ll update you when new properties are added to the market.
East Midlands incorporates so many different areas and has so much to offer that it really can be difficult to know where to start when it comes to all the benefits, attractions and advantages that make it such a fabulous place to live.
Alongside the area’s storied history, there’s also the wonderful educational and employment opportunities. The East Midlands includes some of the country’s most exciting areas in terms of prospects, with opportunities varied enough to bring plenty to the table for all career aspirations, skills and interests.
On top of that, there’s an incredible cultural heritage. This includes the contributions made to art, music, cuisine, theatre and more, all within its boundaries. Truly, the only real task when considering why you should make the East Midlands your home is knowing where to start enjoying this spectacular destination.
L&Q: Spacious Shared Ownership homes across London
Three bedroom homes available in Hounslow, Ealing, Newham, Southwark and Waltham Forest Over the last year, reports of a shortage of three bedroom homes have led to prospective purchasers rushing to snap up the spacious homes within days of coming to market. With limited supply across the capital and exceptionally high demand seeing 49% of…
Catalyst: Shared Ownership apartments available at The Folium, North London
One and two bedroom apartments available in Haringey – ideal for first time buyers First time buyers can get a glimpse of stylish North London living at the show apartment at The Folium, Catalyst’s new development in leafy Muswell Hill. Providing opportunities for first time buyers to get on to the property ladder in…
Legal & General Affordable Homes: Get on the property ladder at White City Living, West London
Modern Shared Ownership apartments available in Hammersmith & Fulham Have you been dreaming about buying your own home and getting on the property ladder in London? If you’re looking to become a first time buyer in the capital but feel like your deposit could use a boost, why not think about Shared Ownership with Legal…