Shared Ownership in Sunderland
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 Sunderland 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 Sunderland, use the search tool on the left hand side of the page or click here to go straight to search results in Sunderland. 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 Sunderland, 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 Sunderland
These are examples of properties that are currently available in Sunderland. Click here to search for all properties in Sunderland.
1st July 2016
This week we've had 2 newbuild developments of Shared Ownership homes in Surrey and Shared ownership homes in West Sussex, added to our property portal.
The Bleriot Gate development of houses to part-rent part-buy in Surrey KT15, is coming soon with 2 and 3 bed houses. The 2 bed shared ownership house in Surrey is available for enquiries now, and click here to find the three bedroom house to part-buy in Addlestone so register your interest to be notified about the SO Development launch.
Those looking for shared ownership properties in West Sussex could show their interest in the Woodland Place development of 2 & 3 bed houses. Prices are to be confirmed for these 2 bed houses in Billinghurst & 3 bed houses in West Sussex, RH14.
Click here to begin your search for a shared ownership property.
19th June 2016
“Buying through this scheme was a life saver for me and the only way that I was able to buy my own home in the location I wanted. Shared Ownership definitely gives people more of a chance to own their own property. I was able to put down what was comfortable for me financially and my outgoings are now really reasonable - unlike renting where I was paying such a high rent and the home wasn’t even mine.”
Part buy part rent in Sunderland
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 Sunderland 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 Sunderland and across England.
Sunderland is a district of Tyne and Wear, in North East England, with the status of a city and borough. It is named after its largest settlement, Sunderland, but covers a far larger area which includes the towns of Hetton-le-Hole, Houghton-le-Spring, Washington, and a range of suburban villages.
Sunderland has produced a modest number of musicians that have gone on to reach international fame, most notably Dave Stewart of the Eurythmics.
Recently Sunderland city centre has seen a re-development of the Sunniside area, with new bars, cafes and retailers opening on the Eastern side of the city. The Sunniside area now includes an Empire Cinema, Gala Casino and many surrounding eateries.