Shared Ownership in Surrey
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 Surrey 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 Surrey, use the search tool on the left hand side of the page or click here to go straight to search results in Surrey. 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 Surrey, 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 Surrey
These are examples of properties that are currently available in Surrey. Click here to search for all properties in Surrey.
2 bed house in Farnborough£77,500 (min. share 25%)
14th July 2016
Our latest Guest Blog comes from WhatHouse? with a host of tips for first time buyers.
8th July 2016
“Help to Buy enabled us to buy a property with a better specification. We already had a reasonable deposit but without Help to Buy on top, we probably would have got a much smaller flat on the outskirts of London. Overall, Help to Buy allowed us to get a higher quality property, in a better location.”
Part buy part rent in Surrey
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 Surrey 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 Surrey and across England.
Surrey is a county in the South East of England, and is one of the counties that make up the Home Counties. Guilford is the county town, and the other districts that make up the county are, Spelthome, Runnymede, Surrey Heath, Woking, Elmbridge, Waverley, Mole Valley, Epsom and Ewell, Reigate and Banstead and Tandridge.
Surrey is an affluent county, with ties to London, particularly in the service based economy. The county is thought to have the highest proportion of millionaires in the UK. The county is well connected to London, with several rail and road routes giving access to the capital.
There are a number of new build developments in Surrey, with shared ownership and Help to Buy properties available.