Your mortgage deposit could be less than you might think
Step on to the property ladder and buy your dream home with shared ownership.
The benefits of buying with shared ownership VS buying outright
Buying a share in a new property, rather than buying outright, makes it easier to get a foot on the property ladder - even if you're on a low income or struggling to save.
A smaller share equals a smaller mortgage deposit. Now you have the potential to fulfil your dream of buying a new home much sooner.
Our new homes are built with energy efficiency in mind. What's more, your monthly mortgage could be cheaper than private rental costs. Lower payments, combined with energy savings, gives you the opportunity to invest in your future.
With the flexibility to staircase (purchase more shares) to 100% ownership when you can afford to, shared ownership is an achievable route to becoming a homeowner.
Struggling to save for a mortgage deposit?
We know the demands of modern living can make it difficult to save. Saving for a mortgage deposit to buy outright can take years.
Shared ownership offers a new approach. With the option to buy a share that fits with your finances, your deposit could be significantly smaller.
- Mortgage deposits are much smaller so you can get into your new home quicker.
- Own a share in a property you love with the option to staircase to full ownership.
- Monthly repayments are generally lower than private rental costs.
Whether you're looking to enter the world of homeownership for the first time or you simply want to step up the ladder into a bigger home for your family, shared ownership can make your dream become a reality.
What could your monthly costs look like?
How shared ownership can work for you
You can buy the maximum share size you can afford - between 25-75%. On the remaining share, you pay a subsidised rent (often lower than market value).
Once you're in your new home, you can increase your share when it suits you - this is called staircasing - all the way to 100% ownership.
Not sure how your future will change? Remember, you can sell your share when it suits you, with the potential to benefit from gains in equity. As a result, shared ownership can be a great way to invest in your future.
You can’t really make a rented property your own and I knew I wanted to get onto the property ladder. This way I can work towards owning the property and I plan to buy more shares in two years’ time... and it’s lovely not to have the worry that the landlord might turn around one day and announce they’re selling.
Asta, who bought a new home at our Castle Hill development.