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 Mole Valley, 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 Mole Valley?
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 Mole Valley?
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 Mole Valley?
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 Mole Valley?
Share to Buy lists thousands of Shared Ownership homes all across Mole Valley 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 Mole Valley - Shared Ownership Properties for Sale in Mole Valley - Share to Buy
If one of the many gorgeous areas of Mole Valley seems like somewhere you would want to call home, but you feel as though home ownership isn’t within your reach, then Shared Ownership homes in Mole Valley may be able to make those ambitions a reality. Help to Buy homes in Mole Valley can also assist buyers in getting their feet on the property ladder.
To stay up to date with Shared Ownership and Help to Buy properties in Mole Valley, simply sign up to Share to Buy and register to receive alerts. We’ll let you know when a property becomes available within your desired area.
When we talk about living in Mole Valley District Council, we’re actually talking about more than just a government district in the beautiful southeast county of Surrey. This area is made up of several distinctly different places, each with their own unique histories, characters and strengths. This variety is really what makes Mole Valley such a special place to live: there’s something here to suit pretty much everyone.
As far as its two main towns go, these include the hilly market charms of Dorking. Not only is this a brilliant place to live on its own merits, but it’s also a terrific setting for those looking to commute to London and elsewhere while enjoying a more laidback pace of life.
Then there’s Leatherhead, with its classical good looks and architecture, not forgetting its thriving cultural scene – it’s actually home to the country’s largest drama festival – and of course, its awe-inspiring natural beauty. This is all without mentioning the stunning Surrey Hills, or the villages of Ashtead and Great Bookham, to name but a few examples of the many parts which make Mole Valley such a fantastic whole.
Registration open for London Home Show Spring 2023
Tickets available for the capital’s biggest first time buyer event Share to Buy’s free London Home Show event will be returning to the Queen Elizabeth II Centre for its 10th year on Saturday 15th April 2023, 10am to 5pm. Check out our video from the autumn 2022 event and hear from some of our exhibitors including Share…
SURVEY RESULTS: Shared Ownership can help single buyers
Majority of purchasers plan to get on the property ladder on their own As the leading property portal for first time buyer homes, our most recent survey at Share to Buy has showed that the majority of prospective Shared Ownership buyers are planning to purchase a home on their own. In our survey of over…
Boiler Choice: Why check the central heating before investing in a property?
A guide to central heating, types of boilers and everything in between For most individuals, buying or investing in a property is a significant decision. Such an undertaking requires a significant commitment in terms of both capital and time, so it is important that one has all the salient information prior to signing on the…
RANKED: The Most Romantic Cities in the UK
To celebrate Valentine’s Day, we rated UK cities on all things love-related to reveal the country’s biggest hopeless romantic hotspots! Cobbled streets, riverside walks, rustic alleyways – some places just have a certain je ne sais quoi, but when it comes to matters of the heart, you might be surprised to discover where Brits have…