Shared Ownership in West Dorset
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 West Dorset 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 West Dorset, use the search tool on the left hand side of the page or click here to go straight to search results in West Dorset. 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 West Dorset, 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 West Dorset
These are examples of properties that are currently available in West Dorset. Click here to search for all properties in West Dorset.
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.”
14th June 2016
New to the website and coming soon to the South and Southeast of England are some lovely shared ownership apartments in Berkshire, shared ownership houses in Worthing, and shared ownership houses in Kent.
The Chilham development boasts 3 bed houses in Canterbury, CT4 to part-buy part-rent, launching this month so show your interest as soon as possible! A selection of 2 bed houses for shared ownership in Worthing, BN13 and also 3 bed houses in Worthing, the Barley Grange newbuild development is coming soon. Also launching soon, the Cardew Court development has 1 bed apartments for shared ownership and 2 bed apartments in Berkshire, RG12 available under the part rent, part buy scheme. These new homes will be announcing pricing in the coming weeks so why not show your interest and potentially take your first step onto the housing ladder.
Click here to begin your search for a shared ownership property.
Part buy part rent in West Dorset
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 West Dorset 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 West Dorset and across England.
West Dorset is a local government district and parliamentary constituency in Dorset, a popular retirement area.
The main settlements in West Dorset are Dorchester, Sherborne and Bridport. Dorchester, an important settlement since Roman times, is the county town of Dorset to the south. Sherborne is in the north of the district and is also an important market town. Popular for its Jurassic Coast, Bridport is in the west of the district and the smaller coastal town of Lyme Regis is at the border with Devon.