Shared Ownership in Basingstoke and Deane
Across England, the Government supports a range of schemes to support affordable home ownership. All official schemes outside London fall under the homebuy brand of government backed affordable home ownership. The most established scheme is shared ownership, otherwise known as part buy part rent but there are also shared equity schemes (e.g. Firstbuy), and rental products, including rent to buy. For more detail on the specific homebuy schemes available in Basingstoke and Deane click on the tabs at the bottom of the page. In addition, at sharetobuy.com there are a range of options open to people wishing to research their affordable housing options:
- To search for shared ownership properties for sale in Basingstoke and Deane, use the search tool on the left hand side of the page or click here to go straight to search results in Basingstoke and Deane. If you cannot find anything that suits your needs at this time we are constantly adding properties and you can register to receive property alerts whenever we do so.
- If you are looking for a shared ownership solicitor in Basingstoke and Deane, you can find solicitors on the sharetobuy.com panel with huge experience of the various homebuy schemes.
- Share to buy are also authorised mortgage brokers and you can use our mortgage tool to compare products available for part buy part rent purchases. See our shared ownership mortgages.
Search for properties in Basingstoke and Deane
These are examples of properties that are currently available in Basingstoke and Deane. Click here to search for all properties in Basingstoke and Deane.
3 bed house in Winchester£132,000 (min. share 40%)
14th August 2017
Our latest Solicitor Blog comes from Alexander JLO Solicitors, and talks first time buyers through the steps to take after you have found a property you are interested in buying...
31st July 2017
The London Home Show Autumn 2017 takes place on the 23rd September at the QEIIC, Westminster from 11am – 5pm. The event, supported by the Mayor of London, is the No.1 event for first time buyers in London.
Part buy part rent in Basingstoke and Deane
The longest-running affordable home ownership scheme is 'shared ownership', and this is often referred to as 'part buy part rent' because you literally buy part of a property and then pay rent on the remainder. Thus, the product can be seen as literally offering a stepping stone between renting and buying. When you part rent part buy a home, the share can start from as little as 25% and the rent on the remaining share is usually capped at an affordable amount usually in the region of 2.75%. If you consider that availability of mortgages with a 5% deposit has historically been strong in the shared ownership scheme, you can potentially put down just 5% of 25% of the purchase price and as you may often not have to pay the purchase tax known as stamp duty, it makes the total cash you need typically far lower than buying on the open market. Another strong feature of the part buy scheme in Basingstoke and Deane and elsewhere is that there is an established second hand market of part buy part rent homes. Although most properties are available on a new build basis, over time, these properties can be sold on to new buyers and if the owner has not yet bought 100% of the property they can offer their existing share for sale on a second hand basis in a process known as a 'resale'. Search sharetobuy.com for part buy part rent properties in Basingstoke and Deane and across England.
Basingstoke and Deane is a borough in Hampshire with a population of around 168,600. The borough has some value for money leisure facilities such as the Basingstoke Aquadrome, Tadley Pool and the Basingstoke Golf Centre. There are rail links from Basingstoke and Deane direct to Waterloo London or direct to Victoria in less than an hour. The council transferred all of its housing stock to two housing associations and today, social housing in the borough is provided by in excess of 25 different housing associations. Due to property prices on the open market rising, ownership of a property is now beyond the means of a large portion of the population, hence the introduction of Shared Ownership in the borough.