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 Long Eaton, 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 Long Eaton?
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 Long Eaton?
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 Long Eaton?
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 Long Eaton?
Share to Buy lists thousands of Shared Ownership homes all across Long Eaton 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 Long Eaton - Shared Ownership Properties for Sale in Long Eaton - Share to Buy
Many first-time buyers feel concerned that their home ownership aspirations are unachievable. Thankfully, with Shared Ownership homes in Long Eaton, that doesn’t have to be the case. They can give you the boost you need to take that vital first step onto the property ladder! Help to Buy homes in Long Eaton are also ideal for buyers looking for an affordable way to lay down roots in their dream location.
Staying updated with the latest Shared Ownership and Help to Buy properties in Long Eaton couldn’t be simpler. All you need to do is sign up to Share to Buy and register to receive alerts when suitable properties are added to your desired market.
If there is one fact that sums up the many wonderful things which make Long Eaton what it is today, it would be that it was once referred to as Aitone in the Domesday Book. The reason this is so significant is because, amongst the several possible meanings, this name alludes to the fact that this is a farming settlement amongst lowlands and between streams.
This not only gives us an idea of the amazing history behind Long Eaton – not least from the fact that it is in the Domesday Book to begin with – but also a general sense of the humble roots it has grown from. Finally, it makes particular reference to the land upon which it sits.
Even today, it’s the natural beauty of Long Eaton which still stands out so much amongst all its other exceptional assets. The fact that this was so notable back then shows us how the beauty of areas such as Attenborough Nature Reserve, Wollaton Park, Rushcliffe Country Park and West Park were the anchor which drew people to the town all the way back then just as it does now.
It is important to note that those awe-inspiring natural attractions are far from the only thing that makes this area stand out. Going back to history for a moment, it might be hard to imagine that such historically rich places as Long Eaton could be improved upon. However, stunning examples of architecture like Elvaston Castle and Wollaton Hall, for instance, really do provide a jewel on an already glimmering crown.
You can also see how Long Eaton is so forward-thinking through these areas too. Just take Attenborough Nature Centre, which exists to educate and preserve species for future generations to enjoy, just as the Domesday documenters did all those centuries ago.
On top of all this, Long Eaton is also a very practical place to call home, with excellent schools, convenient transport links, a love of sports and plenty of great places to eat, drink and shop to your heart’s content. And, of course, its placement in Derbyshire also opens up a whole other world of possibilities and opportunities.
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