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%.

29 Phoenix Street


Phoenix Street, Plymouth, Plymouth City, PL1 3DN

Shared ownership
1 bedroom homes
45% share from
£58,500
Full price
£130,000
Minimum deposit
£2,925

Overview

A modern fourth floor flat with views of Plymouth Sound and Mount Edgcumbe and are available through shared ownership in Plymouth.

The accommodation comprises of an entrance hallway, open plan kitchen/diner & lounge, double bedroom and a bathroom. The property further benefits UPVC double glazing and gas central heating.


Local area information

The subject is located in the town centre of Plymouth. The subject is well served with amenities and is surrounded by businesses, shops, schools and other accommodation blocks. The subject also has good access to transport links.


Plot availability

Plot number 121
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 45%
Minimum share price £58,500
Full market price £130,000
Monthly rent £159
Monthly service charge £140

FAQ's

Min share price from: £58,500 for a 45% share
Full price from: £130,000
Minimum deposit from: £2,925
Monthly rent from: £159
Bedrooms: 1
Bathrooms: 1

There is only one available priced at £58,500 for a 45% 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

Aster
Shared ownership
1 bedroom homes
45% share from
£58,500
Full price
£130,000
Minimum deposit
£2,925