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 Newton le Willows, 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 Newton le Willows?
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 Newton le Willows?
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 Newton le Willows?
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 Newton le Willows?
Share to Buy lists thousands of Shared Ownership homes all across Newton le Willowsand 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
The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Newton le Willows and nationwide have their homes listed on Share to Buy.
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 Newton le Willows - Shared Ownership Properties for Sale in Newton le Willows - Share to Buy
If you’re a first-time buyer, you may feel concerned that your dreams of home ownership are out of your reach. Shared Ownership homes in Newton-le-Willows could offer the ideal solution. They can help you take that vital first step onto the property ladder. Similarly, Help to Buy homes in Newton-le-Willows offers buyers affordable options to settle down in a location they love.
Staying updated with the latest Shared Ownership and Help to Buy properties in Newton-le-Willows is easy. Simply sign up to Share to Buy and register to receive alerts when relevant properties are added to your desired market.
It might not be the biggest town in the country – far from it – but Newton-le-Willows packs plenty of punch within its rather miniature frame.
There are essentially two ways to really understand this charming market town. The first is through its distinctive heritage. It is one which is utterly unique and not to be ignored, despite its place in a wider historical context. This is, after all, a history which dates all the way back to the Domesday book and beyond. It was the head of a hundred following the Norman conquest and became what is considered the world’s first railway town towards the start of the 19th century.
This really is just a tiny overview to demonstrate how Newton-le-Willows doesn’t need to rely on its surrounding areas but instead stands on its own. It has been doing so for a very long time now. Alongside its own history, the town also boasts its own culture. This can be felt in its intriguing past and captivating architecture as well as the community spirit which emanates through its streets.
On top of that, Newton-le-Willows is a place of astounding natural beauty and an area with a rich sporting history. Therefore, there are plenty of opportunities to stretch your legs and enjoy the great outdoors. In essence, the first way to understand Newton-le-Willows is like anywhere else: it’s through its own culture, history and natural assets.
The second way to get to grips with Newton-le-Willows is to appreciate it as the incredible melting pot it is. It blends so many of the wonderful things which make the north of England such a special place to call home. It’s found right between Liverpool and Manchester, bordering Warrington and Wigan. So, if you can’t decide between the positives of any of these areas – and they are all excellent places to live in their own right – then Newton-le-Willows could represent, quite literally, the perfect mid-point.
Of course, this also means that you are only a short trip away from each of these locations, meaning that in a lot of ways, you don’t have to choose between them at all. With both Liverpool and Manchester only being around 20 miles away, they are practically on your doorstep, opening up a whole world of opportunities to the lucky residents of Newton-le-Willows.
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