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 Lincolnshire, 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 Lincolnshire?
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 Lincolnshire?
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 Lincolnshire?
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 Lincolnshire?
Share to Buy lists thousands of Shared Ownership homes all across Lincolnshire 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 Lincolnshire - Shared Ownership Properties for Sale in Lincolnshire - Share to Buy
If you’re a first time buyer, then you may feel concerned that home ownership is out of reach for you. Thankfully, Shared Ownership homes in Lincolnshire can give you a vital boost to take that first step onto the property ladder. Help to Buy homes in Lincolnshire also offers fantastic options to potential buyers looking to unlock the door to their dream home.
To stay up to date with the latest Shared Ownership and Help to Buy properties in Lincolnshire, all you need to do is sign up to Share to Buy. From there, you can register to receive alerts when relevant properties are added that meet your search criteria.
Laying leisurely on the eastern coastline is Lincolnshire, the second largest of the ceremonial counties in England. In other words, it’s absolutely massive, at least for somewhere in our little island. But despite all the room, it’s clear that Lincolnshire is a place that is doing its best to squeeze the absolute most out of every foot of land to find a perfect balance between opportunity and convenience, without sacrificing anything in the way of natural beauty.
While we hasten to say that anywhere couldn’t be improved, we find it hard to imagine somewhere more precisely put together as this astonishing piece of English magic. And it begins with that natural beauty because we can reassure you that despite all the changes that have been made over the years – and Lincolnshire certainly boasts a rich and storied history – this is an area which has not been compromised.
You can still enjoy the majesty of the Fenlands, the rolling chalk hills of the Lincolnshire Wolds and those captivating limestone hills found in South Kesteven. And those spectacular North Sea Coast views? Well, they are hardly going to go anywhere.
Nonetheless, Lincolnshire has advanced. Just take the fabulous city of Lincoln as an example. It is one which continues the rest of the county’s grand tradition of maintaining what made it great while providing new, modern opportunities.
Speaking of which, Lincolnshire is a terrific area for education and employment opportunities, which range hugely across the many towns across the county. And that’s important because ultimately, all good counties are made up from the sum of their parts and here is no exception.
This means that there are more possibilities available to residents throughout, not to mention more attractions and experiences. Lincolnshire is an area with more than one person can explore, and enough to satisfy a huge variety of people.
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