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 Wealden, 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 Wealden?
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 Wealden?
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 Wealden?
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 Wealden?
Share to Buy lists thousands of Shared Ownership homes all across Wealden 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 Wealden - Shared Ownership Properties for Sale in Wealden - Share to Buy
For first-time buyers who are concerned that home ownership may be out of their reach, Shared Ownership homes in Wealden can be the perfect solution to taking that first step on the property ladder. Similarly, Help to Buy homes in Wealden can help potential purchasers realise their property aspirations.
Want to stay on top of the latest Shared Ownership and Help to Buy properties in Wealden? It couldn’t be easier! Simply sign up to Share to Buy and register to receive alerts when new properties are added to your desired market.
Wealden District Council takes its title from the Weald forest. Although the wild woods which once dominated the whole of the area have been somewhat tamed nowadays, they still occupy a lot of the land here, especially in the north.
More importantly, the untamed spirit of its woodland history lives on. Have little doubt about it, a huge part of the attraction to Wealden comes down to its outstanding natural beauty, whether it be the white cliffs known as the Seven Sisters, its famous rich forestry, the country parks, river valleys or any other number of examples which make it such an exceptionally gorgeous place to live.
On top of this, it’s also an area with a great sense of fun, and an ideal one for families at that. Adventure and water parks wonderfully complement the natural parks and gardens to create even more incredible memories. And of course, there are all the local businesses which provide all the little thing you need to make day-to-day life that much more comfortable and convenient.
Speaking of convenience, Wealden is also connected to the East Coastway and Uckfield Branch line and has motorway routes to London, Eastbourne, Brighton, Winchester and more. So, whether you want to explore everything the district has to offer or head further afield to the rest of the country, you’ll be well-catered for here.
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