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%.
Located in the City of Wells, Bishops Green is a new development of new homes ideal for first time buyers and families and available through shared ownership in Bristol.
- Pubs and restaurants within walking distance.
- Variety of excellent schools for all ages, including Wells Cathedral School.
- Shopping opportunities including Waitrose within walking distance also Morrisons and Tescos.
- Clarks Village designer shopping outlet less than 20 minutes away.
- Bristol Zoo, @Bristol, Cabot Circus only 1hrs drive.
Local area information
Where is Bishops Green?
This wonderful Somerset development is perfectly situated less than two miles away from Wells city centre, yet offers excellent commuting for the nearby cities of Bristol and Bath which are only an hour away. Renowned for its famous 13th century Cathedral and being England’s smallest city, Wells has an array of historic buildings and an excellent choice of educational establishments for all ages making it fantastic for families. With its varied mix of independent and high street stores, you won’t be short on shopping opportunities! The local train station is located in nearby Castle Cary only a short drive away, providing further links to travel further afield; central London can be reached in just over two hours. Additionally Bristol and Exeter international airports are within easy reach, making it ideal for international travel.
Amenities near by:
Pubs and restaurants within walking distance.
Variety of excellent schools for all ages, including Wells Cathedral School.
Shopping opportunities including Waitrose within walking distance also Morrisons and Tescos.
Clarks Village designer shopping outlet less than 20 minutes away.
Bristol Zoo, @Bristol, Cabot Circus only 1hrs drive.
Interested in something to do?
Wells Cathedral and the Bishops Palace are two of the many stunning architectural buildings that Wells has to offer. Surrounded with historic beauty, the city holds many artefacts for you to admire. If you love the great outdoors, there is a wide array of parks and gardens to explore, filled with nature and providing great days out in the British summer. To keep the kids entertained on those rainy days, there are plenty of places in Wells for them to visit. The Square play centre is perfect for the little ones, whilst Wookey Hole Caves are less than three miles away from Wells city centre and offers a great day out for the family. You may even meet the witch of Wookey!
Min share price from: £108,000 for a 40% share
Full price from: £270,000
Minimum deposit from: £5,400
Monthly rent from: £371
There are 2 available ranging from £108,000 for a 40% share to £108,000 for a 40% 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.