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%.
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The Links, 1-2 bed homes
Welcome to The Links in Garstang, a brand new development which offers 1 bedroom apartments and 2 bedroom houses.
Set on the banks on the River Wyre with the Forest of Bowland on your doorstep, you couldn't ask for a better place to call home. You’ll also be near to local shops and a good choice of schools, making it ideal for both first time buyers and growing families.
Prices on this development start from 25% equity share.
You will need a minimum 5% deposit (of the share value) for mortgage purposes, plus monies to pay for solicitor fees, moving costs & furnishings.
Reserve today and Sage will pay £500 towards your legal fees*.
*Terms and conditions apply. Shared Ownership is subject to eligibility requirements.’
Local area information
Garstang is an old market town and civil parish within the Wyre borough of Lancashire. It is 10 miles north of the city of Preston and the same distance south of Lancaster. This small market town is a true mixture of old and new. Its historic buildings and medieval passageways are set amongst contemporary, independent shops, restaurants and cafes. The market town has plenty to offer with various shops and supermarkets including; Booths, Sainsbury's and Aldi.
Min share price from: £20,625 for a 25% share
Full price from: £82,500
Minimum deposit from: £1,031
Monthly rent from: £142
There are 2 available ranging from £20,625 for a 25% share to £34,375 for a 25% 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.