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 Nuneaton, 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 Nuneaton?
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 Nuneaton?
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 Nuneaton?
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 Nuneaton?
Share to Buy lists thousands of Shared Ownership homes all across Nuneaton 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 Nuneaton - Shared Ownership Properties for Sale in Nuneaton - Share to Buy
If you’re a first time buyer, then you may worry that home ownership is a prospect out of your reach. With Shared Ownership homes in Nuneaton though, that vital first step onto the property ladder can be made so much easier. Help to Buy homes in Nuneaton also offer affordable options for potential buyers looking to lay down roots in locations they love.
Do you want to stay up to date with Shared Ownership and Help to Buy properties in Nuneaton? All you need to do is sign up to Share to Buy and register to receive alerts when relevant properties become available.
Famed as the birthplace of legendary author George Elliot, it only takes a quick look around Nuneaton to understand why this would be a pretty perfect place for a spot of inspiration. What kind of inspiration you ask?
Well, that depends. There’s certainly enough astounding examples of natural beauty and historical attractions to provide the type of olde English feel you would expect from an area that is known by many as a source of Victorian English masterpieces. But there’s also so much more than that.
Nuneaton is by no means a small place. It boasts a population nudging 90,000, with plenty of room for all those residents to live rich and full lives without being so crowded that few can afford enough space. This means that the town is able to accommodate a wide range of the historical and natural beauties you’d expect, while also offering the charm of quiet residential spots and the hustle and bustle of more metropolitan areas.
And many more notable people than the famed author have found Nuneaton to be a suitable place for creation. It has provided a home to exceptional individuals across the worlds of literature, science and technology, media, art and sports. This lust for culture is far from merely historical. It carries on today through the area’s fantastic educational facilities, its sports teams, museum and art gallery, theatre and even in its inclusion in the annual Britain in Bloom competition. Everywhere you look, there’s inspiration and creation to be found here.
Of course, many are simply inspired to live and grow with this stunning part of the country, creating the best lives for themselves as possible. And it’s easy to see why. Nuneaton is also a very practical place to live, with excellent transport links and no shortage of educational and employment possibilities. There are few places anywhere which can match Nuneaton in its ability to balance such a wealth of things to experience, from the cultural to the practical.
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