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 Stevenage, 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 Stevenage?
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 Stevenage?
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 Stevenage?
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 Stevenage?
Share to Buy lists thousands of Shared Ownership homes all across Stevenage 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 Stevenage - Shared Ownership Properties for Sale in Stevenage - Share to Buy
For first-time buyers, being able to afford a home in a place like Stevenage can often feel challenging. However, Shared Ownership homes in Stevenage can make that first step onto the property ladder much easier. Help to Buy homes in Stevenage can also allow potential homeowners to settle down in a property and area they can take pride in.
With Share to Buy, you can stay on top of all the latest Shared Ownership and Help to Buy properties in Stevenage. All you need to do is sign up to Share to Buy and register to receive alerts, and we’ll notify you when new properties are added to your desired location.
Found in Hertfordshire and located just 28 miles north of London, Stevenage is probably best known as a commuter town. However, there is so much more to it than just its close proximity to the capital.
Following an extensive house-building programme after WWII, Stevenage emerged as a town of two halves, owing to the distinct differences between its Old Town and New Town. The Old Town boasts a rural aesthetic, with traditional terrace housing and rolling surrounding countryside. In contrast, the New Town has a more modern character, with regeneration projects bringing about new housing, retail opportunities and seeing improvements to the town’s rail links.
Alongside the reasonably priced housing options – especially compared to neighbouring commuter towns – Stevenage also enjoys a pedestrianised centre and a generous amount of greenery, with an astonishing 37 wildlife sites and 72 open spaces spread out across the area.
Registration open for London Home Show Spring 2023
Tickets available for the capital’s biggest first time buyer event Share to Buy’s free London Home Show event will be returning to the Queen Elizabeth II Centre for its 10th year on Saturday 15th April 2023, 10am to 5pm. Check out our video from the autumn 2022 event and hear from some of our exhibitors including Share…
RANKED: The Most Romantic Cities in the UK
To celebrate Valentine’s Day, we rated UK cities on all things love-related to reveal the country’s biggest hopeless romantic hotspots! Cobbled streets, riverside walks, rustic alleyways – some places just have a certain je ne sais quoi, but when it comes to matters of the heart, you might be surprised to discover where Brits have…
Censeo Financial: Specialist Shared Ownership mortgage broker
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.…