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%.
Southern Home Ownership is pleased to present The Garrison, available through Shared Ownership in Kent, set within the brand new Shornecliffe Heights development.
Offering the comfort and luxury of contemporary living alongside the heritage of a region steeped in history, the development is built near the famed Shornecliffe Army Camp, a staging post for troops from the time of the Napoleonic Wars to the present day and a symbol of the area’s rich past. In keeping with this local landmark, Garrison’s 17 two & three bedroom flats and houses encapsulate the ideals of safety and security that the camp inspires, along with an injection of modernity and serenity befitting a new home.
Local area information
Folkestone is situated on the South coast between the historic towns of Dover and Rye. It offers residents fantastic opportunities to enjoy the great outdoors with many stunning walks, parks and coastal paths nearby. These include the Kent Downs Area of Outstanding Natural Beauty, the Lower Leas Coastal Pak and the Dungeness National Nature Reserve.
There is an array of amenities close by, including shops (both boutiques and high street stores), supermarkets, pubs and restaurants, and the beach is only a short walk away from the town centre.
Folkestone West station is around two miles away, which has direct services to London St Pancras International, London Charing Cross, Stratford International and Dover.
Folkestone is located nearby the M20 which provides fast access to Ashford, Maidstone, London and the M25. The Eurotunnel is also only two miles away, providing close access to Europe.
Prices are not available yet for Garrison but you can register your interest to be notified when prices become available.
Plot breakdowns are not available yet for Garrison but you can register your interest to be notified when prices become available.
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.