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)

Edward Vinson Drive, 2 bed homes


Edward Vinson Drive, Faversham, Swale, ME13 8FE

Shared ownership

Starting prices

30% share from
£52,500
Full price
£175,000
Minimum deposit
£2,625
Monthly rent
£239
Monthly service charge
£163

Overview

Priced at £52,500 for a 30% share
Full market value of £175,000
Current rent payable £238.59 pcm
Service charges are currently £162.84 pcm
Subject to annual reviews.

Viewings are by appointment only. Please can you ensure that you submit your interest through the Property Booking Website and we will contact you with all the relevant information to arrange that viewing.

If you would like to apply for this property after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert. Please email a fully completed copy to resales@optivo.org.uk

All completed application forms need to be returned to Optivo by the 13 November 2020.

Please note that if a high volume of applications is received, the deadline date might be brought forward.


Local area information

Plenty of parking available
Easy access to 'outstanding' ofsted rated schools
Shared gardens


Plot availability

Plot number 134
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 30%
Minimum share price £52,500
Full market price £175,000
Monthly rent £239
Monthly service charge £154
Ownership Leasehold

FAQ's

Min share price from: £52,500 for a 30% share
Full price from: £175,000
Minimum deposit from: £2,625
Monthly rent from: £239
Bedrooms: 2
Bathrooms: 1

There is only one available priced at £52,500 for a 30% 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

Optivo (Resales)
Shared ownership

Starting prices

30% share from
£52,500
Full price
£175,000
Minimum deposit
£2,625
Monthly rent
£239
Monthly service charge
£163