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 first floor flat, in the London Borough of Merton, available to buy through Shared Ownership. Full market value £260,000. 75% share available, share price £195,000.
- Juliette balcony over looking the parkland
Service Charge £60*
Administrative fee £13.13
Ground rent £16.16
Communal entrance hall with stairs leading to the first floor
Hallway, living room/kitchen, bedroom and bathroom
51 square metres as per RICS valuation
F – general needs
Length of lease