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%.

Read more about Shared ownership (Opens in new window)

Edwalton Park, 2 bed homes


Wheatcroft Drive, Edwalton, Nottingham, Rushcliffe, NG12 4JF

Shared ownership

Starting prices

40% share from
£88,000
Full price
£220,000
Minimum deposit
£4,400
Monthly rent
£700
Monthly service charge
£58

Overview

Edwalton Park is a new build development by Bovis Homes. These beautiful new homes on Wheatcroft Drive would make an ideal purchase for first-time buyers, professional couples or families. In brief, the accommodation comprises; three bedrooms, bathroom, ground floor W.C., lounge and kitchen. Externally, there is a good size private rear garden and allocated parking for two vehicles. 

You will need a minimum 5% deposit on share taken for mortgage purposes and funds to pay for solicitor fees, moving costs & furnishings.

Shared ownership provides an affordable way for you to become a home owner, by buying a share in a new home and paying a subsidised rent on the remaining share. You will then have opportunity to purchase further shares in your home in the future up to 100%, which we call "staircasing", as further shares are purchased the rent reduces accordingly.


Local area information

The home is located in the suburb of Edwalton which is within close proximity to West Bridgford and Nottingham town centre with great transport links and a wide range of local amenities.


Plot availability

Plot number 56
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £88,000
Full market price £220,000
Monthly rent £700
Monthly service charge £58
  • Two bedrooms

  • Fitted kitchen including electric oven and four ring gas hob with canopy extraction

  • Ground Floor W.C.

  • Private Rear Garden

  • Allocated Parking Spaces

  • Fully Double Glazed

  • Fully Carpeted 

Plot number 43
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £88,000
Full market price £220,000
Monthly rent £700
Monthly service charge £51
  • Two bedrooms

  • Fitted kitchen including electric oven and four ring gas hob with canopy extraction

  • Ground Floor W.C.

  • Private Rear Garden

  • Allocated Parking Spaces

  • Fully Double Glazed

  • Fully Carpeted 

Plot number 43
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £88,000
Full market price £220,000
Monthly rent £700
Monthly service charge £51
  • Two bedrooms

  • Fitted kitchen including electric oven and four ring gas hob with canopy extraction

  • Ground Floor W.C.

  • Private Rear Garden

  • Allocated Parking Spaces

  • Fully Double Glazed

  • Fully Carpeted 


FAQ's

Min share price from: £88,000 for a 40% share
Full price from: £220,000
Minimum deposit from: £4,400
Monthly rent from: £700
Bedrooms: 2
Bathrooms: 1

There are 3 available ranging from £88,000 for a 40% share to £88,000 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.

No, but it all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Sage Housing
Shared ownership

Starting prices

40% share from
£88,000
Full price
£220,000
Minimum deposit
£4,400
Monthly rent
£700
Monthly service charge
£58