The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Sandwell 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 Sandwell, 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 Sandwell 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.
For many first-time buyers, getting that first foot on the property ladder can seem challenging. Thankfully, Shared Ownership homes in Sandwell could be the ideal solution. Similarly, Help to Buy homes in Sandwell provide an affordable way to purchase your perfect property in a location you love.
At Share to Buy, we make it so quick and easy to stay up to date with our latest Shared Ownership and Help to Buy properties in Sandwell. All you need to do is sign up to our site and register to receive alerts and we’ll notify you when suitable properties are added to the market.
It might not be the largest area of the West Midlands – with a population of around 330,000 – but Sandwell manages to pack a whole lot of great sights and experiences within its 30-plus square miles. You’ll certainly be glad that many people haven’t yet discovered its delights when you’re enjoying the stunning Sandwell Valley Country park, the astounding views of Clent Hills or the delights of Warley Woods, to give just a few examples.
This borough is a perfect place to escape the troubles of the modern world by getting back to nature, without huge crowds to distract you from the beautiful sights all around you. It’s also a place of great architectural beauty, with the likes of Oak House and West Manor Bromwich House showcasing its history. This rich heritage doesn’t just give Sandwell its distinctive looks but also the sense of identity and history which is further explored in the delightful Wednesbury Museum and Art Gallery.
This is a testament to the creativity and the fortitude that you see today through the many bars, restaurants, shops and other local businesses that help create a community and provide opportunities. Speaking of opportunity, one area that Sandwell excels in is primary and secondary education. There are close to 100 primary schools in the area, alongside special schools. This means if you have a family, especially with children of different ages, all of their educational needs can be met here.
Perhaps that is the best way to understand Sandwell, as a borough made up of several distinctive towns, each with their own perks and identities. This gives plenty of scope for you to find the ideal location for you. It could be Oldbury, thanks to its closeness to the M5 and convenient commuter links. It could be Tipton, for its railways and fascinating cultural and historical sites. Those are just a couple of examples, but it’s important to understand that Sandwell is not a monolith. It’s a great whole made up of many fascinating parts, each of which represents a wonderful place to live in its own right.
It’s also a financially practical place to live. Sandwell remains very competitively priced in term of property prices. This makes it possible to own your ideal home, whether you’re a single professional, couple or young family. You can rest assured that all your needs can be met in terms of education, entertainment, transport, culture and even in terms of natural space for you to enjoy and explore.
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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.…