Shared Ownership in Southend-on-Sea
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 Southend-on-Sea 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 Southend-on-Sea, use the search tool on the left hand side of the page or click here to go straight to search results in Southend-on-Sea. 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 Southend-on-Sea, 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 Southend-on-Sea
These are examples of properties that are currently available in Southend-on-Sea. Click here to search for all properties in Southend-on-Sea.
Richmond House - 2 bed apartment in Southend, Essex£63,000 (min. share 30%)
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 Southend-on-Sea
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 Southend-on-Sea 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 Southend-on-Sea and across England.
Southend-on-Sea is a seaside resort in Essex, England. The district is situated within the Thames Gateway on the north side of the Thames estuary 40 miles east of central London. It is home to the longest leisure pier in the world, The Southend Pier, built in 1830 and stretching some 1.33 miles from shore. Since 1986, a diesel-hydraulic railway has run the length of the pier. London Southend Airport is located 1.7 miles north of the town centre and offers scheduled flights to destinations across Europe. The town is known for its seafront, attractions, an amusement park, straddles the pier entrance. Peter Pan's Playground was eventually renamed Adventure Island as its size and popularity grew, and has since grown into a large amusement park with over 50 rides. The seafront also houses the "Sea-Life Adventure" aquarium. A modern vertical lift links the base of the High Street with the seafront and the new pier entrance The London to Southend Classic Car run takes place each summer and features classic cars which line the seafront.The Southend Shakedown, is an annual event featuring motorbikes and scooters. There are other scooter runs throughout the year, including the Great London Rideout, which arrives at Southend seafront each year. Southend is served by two lines. Running from Southend Victoria north out of the town is the Liverpool Street line.The London, Tilbury and Southend Railway, the Fenchurch Street line, and runs from Shoeburyness in the east of the borough. Southend has two football teams, one of league stature, Southend United, managed by Phil Brown. The other, Southend Manor, play in the Essex Senior League. United competed in Football League One (the third highest division of the English football league system) after being relegated after finishing third from bottom of Football League Championship at the end of the 2006–07 season. They now Play in Football League Two having been relegated again after finishing 23rd at the end of the 2009-10 season.