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%.
Last home available! Don't miss out!
Located in a rural village close to the city of Salisbury, Bishops Mead is a beautiful development of new build houses in Downton.
- Close to The New Forest
- University of Bath is approximately an hour’s drive away
- Plenty of shopping opportunities in nearby Salisbury
- Local village primary school
- Approx 7 miles from Salisbury
Local area information
Where is Bishops Mead?
This fantastic new development is located approximately 7 miles south of the city of Salisbury, and offers local amenities for every day living. There are great transport links to places such as Bournemouth and Southampton via the A338 and A36 - perfect for commuters. There is also a train station in nearby Salisbury which can take you further afield.
Amenities Near By:
Close to The New Forest
University of Bath is approximately an hour’s drive away
Plenty of shopping opportunities in nearby Salisbury
Local village primary school
Interested in something to do?
In the village of Downton, there is a local pub and fish bar, perfect for a meal out, as well as lots of green open spaces in the nearby New Forest. In the centre of Salisbury lies the cathedral, one of their most famous landmarks where you can climb Britain’s tallest spire, walk around the cathedral or book a tour. The ancient stone circles of Stonehenge are a short drive away. Looking to entertain the little ones? River Bourne community farm shows you how a working farm operates and provides educational sustainability and ecologically.
Min share price from: £110,000 for a 40% share
Full price from: £275,000
Minimum deposit from: £5,500
Monthly rent from: £378
There is only one available priced at £110,000 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.