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 Weymouth, 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 Weymouth?
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 Weymouth?
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 Weymouth?
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 Weymouth?
Share to Buy lists thousands of Shared Ownership homes all across Weymouth 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 Weymouth - Shared Ownership Properties for Sale in Weymouth - Share to Buy
If you’re a first time buyer, then you may feel as though the prospect of home ownership is beyond your reach. Thankfully, Shared Ownership homes in Weymouth could be the answer to help you take that vital first step onto the property ladder. Help to Buy homes in Weymouth are also an ideal option for potential buyers looking to unlock the door to their dream location.
Are you interested in staying up to date with Shared Ownership and Help to Buy properties in Weymouth? Well, it couldn’t be simpler. All you need to do is sign up to Share to Buy and register to receive alerts when suitable properties become available.
There are plenty of reasons to visit Weymouth, and indeed a lot of people do, with tourism making up a large part of the town’s economy. But there’s even more reason to live there. After all, when you have as much to offer as this charming seaside town in Dorset, a vacation here could never be enough to experience all the exceptional things that Weymouth has to offer.
Who could ever get tired of the stunning Weymouth harbour, famous for its part in the sailing events of the 2012 Olympics? Or, the sensational and historic Pavilion Theatre? Considering how many new and fantastic acts step on stage at this spectacular venue, there’s always something new to see.
Of course, who could forget the nearby Jurassic Coast: a World Heritage Site that is truly deserving of that title. It’s an astoundingly beautiful area found upon the English Channel and forged by 185 million years of geological change crafting a masterpiece of mother nature. It’s pretty hard to imagine anyone visiting an area like this and thinking that a weekend alone is sufficient to take in such an incredible space.
This is just scratching the surface. There’s a seemingly endless number of activities and attractions here, making Weymouth the perfect place for all kinds of people, from couples to young professionals and those looking to settle down with a family. It’s the variety which helps make it so special. You can find everything from theme parks to historical buildings with equal ease.
And if all of this isn’t enough for you – or perhaps you want to live in Weymouth and work elsewhere – then you’ll be happy to know that the West of England mainline opens the country up to Weymouth’s residents, with even London being within its reach. Weymouth may be a holiday destination to many, but you can enjoy its charms all year round, with plenty of depth to also make it the ideal place to call home.
Shared Ownership developments along the Elizabeth line
First time buyer homes available near Crossrail stations The Elizabeth line officially opened on May 24th, providing commuters with swift access into central London from Heathrow, Reading, Abbey Wood, and Shenfield. However, alternative routes to homeownership, such as Shared Ownership, are helping to open up the property market. Typically offering lower deposits and monthly repayments than…
L&Q: Spacious Shared Ownership homes across London
Three bedroom homes available in Hounslow, Ealing, Newham, Southwark and Waltham Forest Over the last year, reports of a shortage of three bedroom homes have led to prospective purchasers rushing to snap up the spacious homes within days of coming to market. With limited supply across the capital and exceptionally high demand seeing 49% of…
Catalyst: Shared Ownership apartments available at The Folium, North London
One and two bedroom apartments available in Haringey – ideal for first time buyers First time buyers can get a glimpse of stylish North London living at the show apartment at The Folium, Catalyst’s new development in leafy Muswell Hill. Providing opportunities for first time buyers to get on to the property ladder in…