The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in West Yorkshire 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 West Yorkshire, 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 West Yorkshire 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.
If you’re a first-time buyer then the prospect of getting a foot on the property ladder could seem daunting to you. Thankfully, Shared Ownership homes in West Yorkshire can be an affordable way to achieve your property aspirations. Help to Buy homes in West Yorkshire are also ideal for buyers looking to settle down somewhere special.
Staying updated with the latest Shared Ownership and Help to Buy properties in West Yorkshire couldn’t be easier. Simply sign up to Share to Buy and register to receive alerts – we’ll then notify you when suitable properties are added to the market. Easy!
West Yorkshire is one of the most delicious slices of God’s own county, bringing together and excelling in everything that makes this sublime part of the UK as great as it is. When you think of Yorkshire in general, one of the first things that comes to mind is those gorgeous wide-open spaces – the great green fields of Roundhay Park, or the melting pot of culture and nature that is the Yorkshire sculpture park, for instance.
That’s just a couple of the most famous examples: there’s dozens of local examples too, meaning wherever you reside in West Yorkshire, there’s adventures awaiting you.
That fresh air can also be enjoyed while experiencing the great historical sites that colour the identity of its boroughs, across the likes of Pontefract Castle, Kirklees Light Railway and Castle Hill. You don’t need to be a historical expert to appreciate the beauty and character that can be found all around you.
If you are a bit of a history buff though, then everything from the Bronte Parsonage Museum to the National Mining Museum and the Hyde Park Picture House will not only expand your horizons, but help you appreciate what a beautiful place you’ve called home.
As proud as West Yorkshire is of its past, it’s just as excited about the future. You’ll find cultural dynamite in the likes of The Art House in Wakefield, catch the north’s finest large-scale productions at the Alhambra Theatre in Bradford and enjoy the biggest bands at the First Direct Arena in Leeds. Whatever you’re into, whatever you enjoy, there’s plenty to keep you entertained in West Yorkshire.
It’s not just cultural opportunities, either. There’s also a huge amount of employment and educational variety to enjoy as well. Leeds is one of the business capitals of the north, with its university being amongst the finest in this part of the country.
These are, of course, just examples, because what truly makes West Yorkshire great is the vastness of what it offers. We can’t possibly cover it all here – you could spend a whole lifetime uncovering the wonders of Wakefield, falling in love with Leeds, or appreciating the beauty of Bradford, the character of Calderdale or the quirks of Kirklees without ever running out of new things to discover.
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