Helping you along the buying process
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 Folkestone and Hythe, 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 Folkestone and Hythe?
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 Folkestone and Hythe?
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 Folkestone and Hythe?
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 Folkestone and Hythe?
Share to Buy lists thousands of Shared Ownership homes all across Folkestone and Hythe 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 Folkestone and Hythe - Shared Ownership Properties for Sale in Folkestone and Hythe - Share to Buy
Many first-time buyers may feel as though their home ownership aspirations are unachievable. With Shared Ownership homes in Folkestone and Hythe though, those vital first steps onto the property ladder can be more accessible than you may have thought. Help to Buy homes in Folkestone and Hythe can also make it easier for potential purchasers to settle down in the property of their dreams.
Looking for Shared Ownership and Help to Buy homes in Folkestone and Hythe? Make sure you sign up to Share to Buy and register to receive alerts when new properties become available in the area.
Renamed from Shepway in April 2018, Folkestone and Hythe District Council governs a truly stunning piece of British culture, countryside and history. Many may feel that in order to enjoy all the benefits of this rural beauty, they need to compromise when it comes to modern conveniences. Thankfully though, Folkestone and Hythe really does offer the best of both worlds.
Stunning forested areas intertwine with gorgeous pieces of architecture, which are part of the debt the landscape owes its incredible history. That on its own would be more than enough to make Folkestone and Hythe an amazing place to live. However, when you add to that equation the beaches, amusement parks, museums and all the thriving local businesses which add so much in terms of quality of life and local culture, then this part of Kent is quite clearly in a league of its own.
On top of all that, Folkestone and Hythe also benefits from excellent transport routes, including being located nearby to the Channel Tunnel. This means the port town is not only opened up to the whole of the UK, but it also brings the rest of Europe within easy reach of its residents too.
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