Shared Ownership in Bromsgrove
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 Bromsgrove 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 Bromsgrove, use the search tool on the left hand side of the page or click here to go straight to search results in Bromsgrove. 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 Bromsgrove, 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 Bromsgrove
These are examples of properties that are currently available in Bromsgrove. Click here to search for all properties in Bromsgrove.
Selly Oak - 3 bed house in Birmingham£103,250 (min. share 35%)
20th November 2017
Is saving for a deposit holding you back from moving in to your own home? Saving money can be hard, but with these ten money saving apps available at your fingertips, you’ll soon discover how to put away the pennies and you’ll be ready to move in no time.
20th September 2017
Shared Ownership Week returns for its fifth year, 21st - 27th September. Shared Ownership week raises awareness this home ownership scheme which offers a life line to thousands of first time buyers.
Part buy part rent in Bromsgrove
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 Bromsgrove 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 Bromsgrove and across England.
Bromsgrove is a town in Worcestershire, England. The town is about 16 miles north east of Worcester and 13 miles south west of Birmingham city centre. There is a statue of Alfred Edward Housman in the high street, which was erected in 1985. There is also a sculpture of a dryad and boar in the high street. Bromsgrove is home to Grafton Manor which dates back to the 14th century. It has a rich history, with one of the daughters of John Talbot married to Robert Wintour, who was involved in the Gunpowder plot. Bromsgrove is intersected by the A38 which was bypassed to the east of the town in 1980, the M5 motorway borders the west side and the M42 motorway starts at the north of the town. Bromsgrove railway station is situated to the south of the town. It sits at the foot of the Lickey Incline which is the steepest Incline on the British mainline. There are frequent trains to Birmingham New Street, Worcester Foregate Street and Hereford. There is also a bus station adjacent to the high street. Buses operate to a wide area of Worcestershire and the West Midlands. Avoncroft Museum of Historic Buildings has its home in Bromsgrove. This museum includes the National telephone kiosk Collection. The Bromsgrove Museum in the building of the Tourist Information Office near the centre of town is currently closed. The Worcester and Birmingham Canal which runs close to Bromsgrove, is a destination for leisure activities such as walking and coarse fishing and there are several narrowboat hire centres situated in nearby villages. The Tardebigge lock flight, with 30 locks, is the longest in the UK. Bromsgrove is 5 miles (8.0 km) away from the historic country house Hanbury Hall, which is open to the public. The town's leisure venues include a nightclub featuring a mixture of styles, and pubs in the town centre include a Wetherspoons pub, a Slug and Lettuce pub and a number of traditional pubs. Bromsgrove is close to the countryside attractions of the Lickey Hills, the Clent Hills, the Waseley Hills. Bromsgrove is host to a centre for the arts, "Artrix", located on Slideslow Drive. Artrix is a multi purpose arts centre that provides theatre, cinema screening recently-released films and National Theatre Live performances, rock concerts, folk music, stand-up comedians and classical music concerts Since 1960, Bromsgrove has held an annual classical music festival, with an international reputation.