Helping you along the buying process

Search for a property in Torbay
Search for a property in Torbay
Tools to check your affordability
Tools to check your affordability
Contact a mortgage broker
Contact a mortgage broker

Shared Ownership FAQs

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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 Torbay, 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 Torbay?

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 Torbay?

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 Torbay?

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 Torbay?

Share to Buy lists thousands of Shared Ownership homes all across Torbay 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!

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The steps to find your new Shared Ownership home

We have a wealth of tools, FAQs, guides and blogs to help you understand your options
Search for a property
Find the right home for you in Torbay and register your interest
Speak to the specialists
Contact a Mortgage Broker and Solicitor Panels to help you through the buying process

Find your home with Share to Buy

Learn more about the UK's leading first time buyer property portal, specialising in affordable home ownership options including Shared Ownership and Help to Buy
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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.

Find out more about advertising your Shared Ownership property on Share to Buy.

Shared Ownership Torbay - Shared Ownership Properties for Sale in Torbay - Share to Buy

The prospect of home ownership can often feel out of reach for many first-time buyers. Thankfully, Shared Ownership homes in Torbay offer the ideal solution, giving you the boost you need to take that vital first step onto the property ladder. Similarly, Help to Buy homes in Torbay provides affordable options for buyers looking to turn their property aspirations into reality.

To stay updated with the latest Shared Ownership and Help to Buy properties in Torbay, simply sign up to Share to Buy. From there, you can register to receive alerts when new properties become available in your desired location.

The beautiful borough of Torbay is truly one of this country’s most astounding areas. How else could you possibly describe somewhere which incorporates a trio of beauties of the calibre of Torquay, Brixham and Paignton.

Anyone of those areas on their own represents a truly astounding place to live: each with their distinct history, incredible natural assets and fascinating cultures. It’s no surprise then, considering all this – coupled with Torbay’s elegant, sun-kissed beaches alongside an almost continental climate – that it has been given the nickname of the English Riviera.

Despite the remarkable reputation that this part of the country more than deserves, there is one misconception surrounding Torbay which we think is unjustified. That’s the fact that many people view the borough as more of a tourist area than a place to settle down and call home for good.

We’d like to preface this by saying that, of course, Torbay makes for an excellent holiday destination. Its climate is seemingly custom-built for relaxing in the sunshine and the feeling of sand beneath your feet is incomparable. However, it’s also a wonderful place to live.

For starters, those attributes don’t just lose their appeal after a long weekend. That incredible harbour won’t look any less gorgeous no matter how long you marvel at it and you’ll always have an appreciation for better quality weather than the majority of the British Isles.

Aside from that, it is important to remember that Torbay is a real community. It boasts an array of pubs, restaurants, shops and suburbs. Along with making memories for holidaymakers, these local businesses also bring a depth, history, culture and character to the borough.

After all, there’s a reason why so many people have been deciding for decades that there’s no better place to spend their downtime than Torbay. We think that many people deciding where they want to find their permanent home will come to the same conclusion.


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