The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Loughborough 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 Loughborough, 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 Loughborough 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.
Shared Ownership homes in Loughborough can be the perfect choice for first-time buyers struggling to get that initial step on the property ladder. Help to Buy homes in Loughborough are also a fantastic way for potential buyers to find their dream home in a location they love.
If you want to keep up to date with Shared Ownership and Help to Buy homes in Loughborough, all you have to do is sign up to Share to Buy and register to receive alerts. We’ll then automatically notify you when new properties become available.
Don’t be fooled by the traditional charm of Loughborough. This Leicestershire town is a vibrant hub that has all the buzz of a city. The world-class Loughborough University attracts a fresh crowd of young minds, who are all eager to take advantage of this exceptional educational facility. In response, an exciting nightlife and culinary scene has sprung up in the town, with regeneration work breathing new life into the centre.
It’s not all about the bustling student population though. Loughborough benefits from some truly stunning green spaces, including Queen’s Park in the town centre and nearby woodland. Nature lovers will also be pleased to hear that the splendour of the Peak District is right on the town’s doorstep. Culture vultures can check out an array of performances at Loughborough Town Hall or exhibits at the Carillon and Charnwood Museum, while family fun can be had at the historic Loughborough Fair. And speaking of history, the town’s industrial heritage is far from forgotten, with The John Taylor & Co bell foundry enterprise still running since its opening in 1839.
On top of all that, Loughborough also boasts some excellent rail and road links with nearby major cities, including Nottingham, Leicester and Derby. However, with so much to discover in the town, you may be short on excuses to leave.
Get onto the property ladder in Essex, Greenwich and Wimbledon With inflation rates now at their highest level since the early 1980s, the cost of living crisis is significantly impacting households across the UK. As homeowners face sky high energy bills this winter, the appeal of a new build home, designed to be more energy…
Mortgage brokers offer in-depth knowledge, access to lenders, exclusive deals and more! Introducing Censeo Financial Censeo Financial are an award-winning mortgage broker specialising in Shared Ownership and affordable homeownership. Having been trading for over 16 years, we work with many housing associations, councils and developers and have helped thousands of first time buyers get onto…
Sovereign talk Shared Ownership in Berkshire this October Join Sovereign at 5pm on Tuesday 4th October for a webinar to discover more about Sovereign’s iconic Horlicks Quarter development in Slough and how you could purchase your very own place with Shared Ownership. Chaired by Jade Turnstill from Share to Buy, this webinar is an opportunity to get…