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Shared Ownership in Milton Keynes

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 Milton Keynes 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:

Your options

  • To search for shared ownership properties for sale in Milton Keynes, use the search tool on the left hand side of the page or click here to go straight to search results in Milton Keynes. 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 Milton Keynes, 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 Milton Keynes

These are examples of properties that are currently available in Milton Keynes. Click here to search for all properties in Milton Keynes.

minimum share £60,000 (40%)Full price £150,000

  • Ambridge Grove , Peartree Bridge, Miton Keynes, Buckinghamshire, MK6 3PH

  • 2 Bedroom Semi-Detached House in MK6

  • Affordable housing scheme: resales ('part buy part rent' on 2nd hand homes).Check eligibility

Property details Contact housing provider Save property

Budget calculatorhelp

Update

Estimated total monthly cost£541

(includes: rent£181,

service charge£27,

estimated mortgage£333)

help

minimum share £95,000 (50%)Full price £190,000

  • Halswell Place , Middleton, Milton Keynes, Buckinghamshire, MK10 9BL

  • Two Bed Semi Detached House

  • Affordable housing scheme: resales ('part buy part rent' on 2nd hand homes).Check eligibility

Property details Contact housing provider Save property

Budget calculatorhelp

Update

Estimated total monthly cost£727

(includes: rent£177,

service charge£23,

estimated mortgage£527)

help

Latest News

New 95% Exclusive Shared Ownership Mortgage

15th April 2014

Share to Buy is pleased to launch a brand new 95% shared ownership mortgage

We are confident that this is one of the most competitive products available for shared ownership with a 5% deposit and it is only available via Share to Buy’s mortgage team, it’s NOT available on the high street. 

Read more...

View News Archive

FIRST STEPS Homes Show: latest news

7th March 2014

We are able to confirm it now looks like we will have a total of 30 stands on display at the FIRST STEPS Homes Show on April 12th, which Share to Buy is once again hosting in central London.
This is a FREE event formally endorsed by the Mayor of London which includes a whole range of London-based affordable housing providers PLUS a broker area with around 30 mortgage specialists on hand for a one-to-one discussion with attendees. This compares to 23 stands and 12 brokers last year.  To read more about the show and register click here

Visit our News Archive

Part buy part rent in Milton Keynes

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 Milton Keynes 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 Milton Keynes and across England.

Shared Equity in Milton Keynes

Shared equity schemes are not to be confused with shared ownership (AKA 'part buy part rent'). With shared equity, you purchase ALL of a property but you receive an equity loan for part of the deposit and this can be quite substantial. For example, with the main government backed homebuy shared equity scheme 'Firstbuy', you take out a mortgage for 75% of the property price, putting down just a 5% deposit. The government and builder each lend you 10% on favourable terms as equity loans. Thus, overall, you put down a 5% deposit but can access mortgages broadly as if you were putting down a 25% deposit. On sharetobuy.com, we present Firstbuy and other shared equity properties as if you are buying an 80% share because this is how most customers understand the product and perhaps the most understandable way of explaining it. Nevertheless, unlike part buy schemes where you are only purchase part of a property (usually from a housing association), with shared equity you are technically purchasing the whole property (usually from a developer, though some housing associations do offer Firstbuy and their own equity loan products). Please note that Firstbuy is similar to the Homebuy Direct equity loans product that preceded it, but there is little Homebuy Direct property remaining. Search sharetobuy.com for Firstbuy properties in Milton Keynes and across England, for sale on a shared equity basis.

Milton Keynes is a large town in Buckinghamshire, about 45 mi (72 km) north-west of London. The town has a population of 226,000.

It was formally designated as a new town in 1967, with the design brief to provide a city in scale, and the aim to reduce housing congestion in London. The site was deliberately located equidistant from London, Birmingham, Leicester, Oxford and Cambridge with the intention that it would be self-sustaining and eventually become a major regional centre in its own right.

Development continues to this day in Milton Keynes, and there are a number of shared ownership and Help to Buy properties in the area.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Share to Buy Ltd is authorised and regulated by the Financial Conduct Authority. FCA register number 306800. You can find more detail on our status in our Initial Disclosure Document [109k] and Terms of Business.

For further information, contact us or write to: Share to Buy, PO Box 11998, Sudbury CO10 3BS. Registered in England and Wales no: 04909788.

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