The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Poole 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 Poole, 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 Poole 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.
As a first time buyer, you may often feel as though your home ownership aspirations are out of reach. With Shared Ownership homes in Poole though, that doesn’t have to be the case. Plus, Help to Buy homes in Poole can help buyers take those steps up the property ladder and into a location they love.
If you want to stay up to date with the latest Shared Ownership and Help to Buy properties in Poole, then all you need to do is sign up to Share to Buy. Once you’ve done that, register to receive alerts and we’ll notify you by email when new properties become available.
Nearly half a million people now call the coastal town of Poole their home, making it the second largest town in Dorset. Despite this though, the area hasn’t lost any of the things which make so many people want to flock there in the first place, while still enjoying the prosperity and growth that comes with that popularity. And why wouldn’t people want to live here?
Its rich history as a seaport has made this a vital and important place to live since back in the Iron Age, throughout WWII and all the way up to the modern day. This fascinating past is celebrated at Poole Museum, as well as historical sites throughout the area.
That importance still remains today, with an economy which varies from a bustling service sector, a large number of industrial estates and some huge manufacturing employers, as well as opportunities on the street, the beaches, theme parks and many more sectors. That’s quite a change for an area that once dealt almost exclusively in the manufacturing of wool. This means that there’s a wide variety of options for someone looking to live and work here.
Of course, the other side of such a bustling jobs market are all the restaurants, bars, cafes and shops, including Poole’s very own Dolphin Shopping Centre, the largest of its kind of Dorset. All this make Poole not just a wise pick for residents looking for opportunities, but a fun place to live too.
In fact, having fun is a big part of what Poole is about, with its sandy beaches across Poole Bay, alongside several urban parks. These include the enormous Poole Park, which is handily situated between the town centre and the harbour. It’s hard to imagine anyone not being able to find something to enjoy with so many diverse activities and attractions to choose from. Whether you want a trip out amongst the sand and the trees with the family, to try your hand at skiing, go for a romantic meal or just enjoy a crisp cool pint, Poole has something for everyone.
It’s also a place with a love of art, with the Lighthouse being the biggest arts complex outside of London, and a culture which branches back centuries and still lives on. That’s not to mention the excellent selection of live music available. And, if you ever need to venture outside of Poole for work or entertainment, then the town benefits from excellent transport connections to the rest of the country via train, ferry and motorway.
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Why should first time buyers use a mortgage broker? 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 the property ladder.…