Shared Ownership in Liverpool
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 Liverpool 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 Liverpool, use the search tool on the left hand side of the page or click here to go straight to search results in Liverpool. 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 Liverpool, 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.
29th June 2015
Our latest Guest Blog come from Vikki Baines, Account Manager - Open Market Shared Ownership, Moat. Vikki takes a look at the beginning of the shared ownership journey - the things to consider and where to look for properties.
16th June 2015
Welcome to our new mortgage blog, where over the coming weeks we will try to explain some of the requirements for successfully obtaining a mortgage. In our first blog we will address the questions: How much can I borrow? and How do mortgage calculators work?
Part buy part rent in Liverpool
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 Liverpool 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 Liverpool and across England.
The birthplace of the Beatles, Liverpool has long been a vibrant city with a warmth and vitality all of its own. Situated in the North West of England, located on the Liverpool Bay of the Irish Sea. It is the sixth most populous city in England, with a population over 466,000 and the wider metropolitan area has a population of about 2 million.
Labelled the World Capital City of Pop by Guinness World Records, artists of Liverpool origin have produced more number one singles than any other. The popularity of The Beatles, Billy Fury, Gerry and the Pacemakers, and the other groups from the Merseybeat era, and later bands such as Echo & the Bunnymen and Frankie Goes to Hollywood, contributes to Liverpool's status as a tourist destination; tourism forms a significant part of the city's modern economy. The city celebrated its 800th anniversary in 2007, and it held the European Capital of Culture title.
Liverpool’s city centre and Albert Docks have undergone significant redevelopment over the past 20 years, and the city now boasts a retail and entertainment offer which is second to none outside the capital.
In common with much of the rest of the UK today, Liverpool's economy is dominated by service sector industries, both public and private. In 2007, over 60% of all employment in the city was in the public administration, education, health, banking, finance and insurance sectors.
Historically, the economy of Liverpool was centred around the city's port and manufacturing base, although today less than 10% of employment in the city are in these sectors. Nonetheless the city remains one of the most important ports in the United Kingdom, handling over 32.2m tonnes of cargo in 2008. It is also home to the UK headquarters of many shipping lines. Future plans to redevelop the city's northern dock system, in a project known as Liverpool Waters, could see £5.5bn invested in the city over the next 50 years, creating 17,000 new jobs.
There is a wealth of new build developments in Liverpool, including shared ownership and Help to Buy properties.