Helping you along the buying process
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 South Cambridgeshire, 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 South Cambridgeshire?
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 South Cambridgeshire?
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 South Cambridgeshire?
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 South Cambridgeshire?
Share to Buy lists thousands of Shared Ownership homes all across South Cambridgeshire 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 South Cambridgeshire - Shared Ownership Properties for Sale in South Cambridgeshire - Share to Buy
For first-time buyers who are worried that their ambitions may be out of their reach, Shared Ownership homes in South Cambridgeshire could be just the boost they need to start their ascent up the property ladder. Help to Buy homes in South Cambridgeshire also make it easier than ever for potential purchases to make their dream home a reality.
To stay up to date with the latest Shared Ownership and Help to Buy properties in South Cambridgeshire, all you need to do is sign up to Share to Buy and register to receive alerts when new properties are added to the market.
South Cambridgeshire Council is the local authority of one of the more rural areas that surround the city of Cambridge. Its natural charms are a huge part of what makes living here so enjoyable. Nearby parks, rivers, farms, garden and even caves all come together to create a home to some of the most stunning sights in the country. And when you consider just how much competition there is, that’s not a statement we make lightly.
It’s also an area with a great history, boasting museums and historical sights galore. This means that if your idea of an idyllic place to live is one of gorgeous chalk hills, amazing architecture and stunning swathes of green, then South Cambridgeshire might just be right up your street.
Not only that but its close proximity to the city means that you’re not far away from all the modern conveniences and entertainment options you could possibly need. A place of both tranquillity and adventure alike, South Cambridgeshire makes a wonderful home for families, couples and singletons alike.
South Cambridgeshire is part of the Cambridgeshire & Peterborough Combined Authority. The CPCA is made up of six districts – Cambridge City, East Cambridgeshire, Fenland, Huntingdonshire, Peterborough and South Cambridgeshire.
Whether you’re a first time buyer, upsizer or downsizer, start your search for affordable home across the CPCA region today.
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