Shared Ownership in Carlisle
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 Carlisle 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 Carlisle, use the search tool on the left hand side of the page or click here to go straight to search results in Carlisle. 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 Carlisle, 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.
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 Carlisle
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 Carlisle 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 Carlisle and across England.
Carlisle is a city and the county town of Cumbria. It is also the administrative centre of the City of Carlisle borough in North West England. Carlisle is located at the confluence of the rivers Eden, Caldew and Petteril, 10 miles south of the Scottish border. Historically part of Cumberland, the early history of Carlisle is marked by its status as a Roman settlement, established to serve the forts on Hadrian's Wall. During the Middle Ages, because of its proximity to the Kingdom of Scotland, Carlisle became an important military stronghold. The introduction of textile manufacture during the Industrial Revolution began a process of socioeconomic transformation in Carlisle, which developed into a densely populated mill town. This, combined with its strategic position, allowed for the development of Carlisle as an important railway town, with seven railway companies sharing Carlisle railway station. Nicknamed the Border City, Carlisle today is the main cultural, commercial and industrial centre for north Cumbria. It is home to the main campuses of the University of Cumbria and a variety of museums and heritage centres. In 2012 Carlisle was one of the official stop off points for the Olympic torch before it made its way down to the Olympic Games opening ceremony in London's Olympic Stadium. Carlisle is the only city in Cumbria. The city centre is largely pedestrianised and The Lanes shopping centre is home to around 75 stores. Carlisle has a compact historic centre with a castle, museum, cathedral and semi-intact city walls Carlisle is linked to the rest of England via the M6 motorway to the south, and to Scotland via the M74/A74 towards Glasgow and the north. Many trunk roads begin or terminate in Carlisle, including the A6 to Penrith and Luton (historically the main road to the south) the A595 to western Cumbria, the A69 to Newcastle-upon-Tyne and the A7 to Edinburgh. The City of Carlisle is the only city in Great Britain other than London and Edinburgh with more than one single numbered 'A' road - A6 and A7 (although at one time the A5 and A6 met in St Albans). Traffic in the Carlisle area, especially at rush hour, is a significant problem and in 2012 a bypass opened to take traffic from west Cumbria heading to the M6 away from the city centre. Carlisle is a principal railway station on the West Coast Main Line. Other lines go to Newcastle, Leeds, Glasgow via Dumfries, and west Cumbria. Kingmoor Traction Maintenance Depot is a major facility north of Carlisle. Local bus services are run by Stagecoach North West, Reays and Arriva. Following the flooding of Carlisle Bus Depot on 8 January 2005 Stagecoach announced the purchase of a fleet of low-floor buses for Carlisle city routes. These were launched on 30 June 2005, with "Carlisle Citi" branding, and most buses carry route branding for individual routes both internally and externally. In 2009 locally based coach operator Reays started a City Hopper bus services on routes formerly operated by Stagecoach but has since expanded with similar routes to Stagecoach and also connects parts of the city that previously did not have a service.