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%.
One bedroom 6th floor flat in the London Borough of Camden, available to buy through Shared Ownership. Full market value £390,000 65% share available, share price £253,500
Monthly Mortgage**: £1347.63
Monthly Rent: £243.45
NHHO Service Charge*: £108.05
Notting Hill Administration Fee: £0
Council Tax: £105
Estimated Total (per month): £1,699.13 excluding council tax
*Service Charge payable to Notting Hill
**Estimate: The monthly mortgage is 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.
Entrance hall, bedroom, bathroom, lounge/kitchen
No allocated parking space
Secure cycle storage
Communal garden areas
44 sq. as per RICS valuation
F – General Housing
Length of lease