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%.
30 Barking Road
Two bedroom second floor flat, in the London Borough of Newham, available to buy through Shared Ownership. Full market value £445,900,000. 25% share available, share price £111,475.
Monthly Rent: £495.14
Other Housing Service Charge**: £ 202.52
Notting Hill Service Charge: £13.50
Council Tax: £92.19
Estimated Total (per month): £1,303.77
*The monthly mortgage is an estimate based on an interest rate of 4.99 % with a capital and interest repayment over 25 years. It is based on a 90% mortgage. The rent may increase each year, the increase calculation will be specified in the lease.
** Service Charge payable to Trinity Estate Management
Communal entrance hall with stairs and lift to upper floors
Hallway, open plan reception room/kitchen, bedroom 1, bedroom 2, bathroom.W.C & shower room/W.C.
65.4 square metres (703.96 sqft) as per RICS valuation
Length of lease