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, third floor flat in the London Borough of Haringey, available to buy through Shared Ownership. Full market value £340,000 25% share available, share price £85,000
Monthly Mortgage**: £451.87
Monthly Rent: £349.41
Managing Agent Monthly Service Charge: £125.53
Council Tax: £99
Estimated Total (per month): £926.81 (excluding council tax)
*Service Charge payable to HAUS Block Management
**Estimate: The monthly mortgage is based on an interest rate of 4.99 % with a capital and interest repayment over 25 years. It is based on a 90% mortgage The rent may increase each year, the increase calculation will be specified in the lease.
Intercom, entrance hall, stairwell
Entrance hallway, living room/ kitchen, bedroom, and bathroom/WC
Parking (on nearby street)
48 square metres (516.67 sq. ft) as per RICS valuation
F – General Access
Length of lease