Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

1 School Close


Schools Close , Chulmleigh, Mid Devon, EX18 7AT

Shared ownership
2 bedroom homes
65% share from
£118,300
Full price
£182,000
Minimum deposit
£5,915

Overview

This two bedroom semi-detached house is an ideal opportunity for a first time buyer to get on to the property ladder with Hastoe. It is being sold under the shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.


Local area information

Located in North Devon, Chumleigh is a small Saxon market town and civil parish. The hilltop town is conveniently placed 20 miles north west of Exeter, where you can find great travel links to London, Birmingham and Bristol. The old town retains its thatched cottages, inns and welcoming community spirit.


Plot availability

Plot number 1
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 65%
Minimum share price £118,300
Full market price £182,000
Monthly rent £136
Monthly service charge £6

Property features:

Off street parking

Private garden

Fitted kitchen

Central heating

Double glazing

Downstairs WC

Over-bath shower

 

Kitchen:  4.45m x 2.67m

Space for medium kitchen table

Door to utility

 

Utility room: 2.6 x 1.9

 

Living Room: 3.87m x 3.48m

French doors leading to garden

 

Bathroom: 2.6m x 1.63m

Bath (shower over the bath)

WC

Basin

 

Bedroom 1: 5.22m x 2.93m

Three windows

Large cupboard & built in wardrobe

 

Bedroom 2: 3.22m x 3.21m

Two windows

Open views

 

Downstairs WC: 2.7m x 1.26m

Large room space for storage

 

Garden: 17m x 11.5m (widest point with shed)

Private enclosed & secure garden

 

Patio area: 8m x 3m

Patio area with open farmland views


FAQ's

Min share price from: £118,300 for a 65% share
Full price from: £182,000
Minimum deposit from: £5,915
Monthly rent from: £136
Bedrooms: 2
Bathrooms: 1

There is only one available priced at £118,300 for a 65% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Hastoe
Shared ownership
2 bedroom homes
65% share from
£118,300
Full price
£182,000
Minimum deposit
£5,915