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 2nd floor flat in the London Borough of Wandworth, available to buy through Shared Ownership. Full market value £452,000 35% share available, share price £158,200.
Monthly Mortgage**: £841.93
Monthly Rent: £557.42
Estimated Service Charge*: £154.50
Notting Hill Administration Fee: £13.50
Council Tax: £71.33
Estimated Total (per month): £1,566.43 excluding council tax
*Service Charge payable to First Port Property Management
**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 hallway, living room with open plan kitchen, bedroom and a bathroom.
47 square metres (506 sq ft) as per RICS valuation
D – Easy Access
Length of lease