Shared Ownership in Chelmsford
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 Chelmsford 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 Chelmsford, use the search tool on the left hand side of the page or click here to go straight to search results in Chelmsford. 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 Chelmsford, 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 Chelmsford
These are examples of properties that are currently available in Chelmsford. Click here to search for all properties in Chelmsford.
2 bed apartment in Chelmsford£90,000 (min. share 30%)
23rd May 2016
“There was no way I would have been able to afford a home without buying through the Shared Ownership scheme. Being in my early 20s, buying outright on my own would have been impossible and I found I was being priced out of London, even in places I could commute from. The scheme was the most reasonable and realistic option for me to get onto the housing ladder with the money I had available, and this meant that I was able to purchase a 50% share of my home.”
18th May 2016
One of the questions most often asked is ‘How much can I borrow for a mortgage?’ Our latest blog introduces the new Share to Buy Mortgage Affordability Calculator, a new tool to give you an indication of what is affordable for you to borrow.
Part buy part rent in Chelmsford
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 Chelmsford 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 Chelmsford and across England.
Chelmsford is the principal settlement of the City of Chelmsford and the county town of Essex, in the East of England. It is located in the London commuter belt, approximately 32 miles northeast of Charing Cross, London. The main London to Colchester A12 trunk road which evolved from the Great East Road originally built by the Romans to connect London and Colchester, used to pass through the city but is now diverted around the east. Chelmsford is around 25 to 30 minutes' drive from London Stansted Airport (via A130/A120), and London Heathrow, London Gatwick, London City, Luton and Southend airports are all within reach. Originally an agricultural and market town, Chelmsford has been an important centre for industry since the 19th century. Following the opening of the Chelmer and Blackwater Navigation in 1797, cheaper transportation and raw materials made milling and malting the main industries until the 1850s, when increasing prosperity created a local market for agricultural machinery. In 1899, Guglielmo Marconi opened the world's first "wireless" factory under the name The Marconi Wireless Telegraph & Signal Company in Hall Street employing around 50 people. The Britvic soft drink company began life as the British Vitamin Company in 1948. However, the origins of the company can be traced back to a chemist's shop in Tindal Street where flavoured waters were on sale as early as the mid-19th century. The 1979 film special of the TV series Porridge was filmed largely on location at Chelmsford Prison (while it was closed for repairs after a fire). Hylands House and Park just to the west of the city is a country house and parkland, saved from dereliction and purchased by the local council in 1966 after the death of the last private owner. The house dates originally from 1730, and the park, currently 574 acres was landscaped by Humphry Repton. It is open to the public and used for a wide range of community events, including the annual music festival V Festival. It is also available for weddings and other private hires including conferences etc. The 21st World Scout Jamboree 2007 was held at Hylands Park from 27 July to 8 August 2007. Chelmsford Museum in Oaklands Park, off Moulsham Street, is a local history and industrial heritage museum which also incorporates the Essex Regiment Museum. Essex County Cricket Club is one of the 18 major county clubs which make up the English domestic Cricket structure, representing the county of Essex. The club is based at the County Ground in New Writtle Street.