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%.
A fantastic opportunity to purchase a 60% share in this beautiful lower ground floor, one bedroom apartment in a superb central location in the Heart of Hove where you can enjoy the coast, the countryside and yet be close to excellent transport links to the rest of the country and the world.
Imagine walking through the front door into a welcoming entrance hall at the end of which is the bathroom. Approximately halfway down the hall a door on the right will lead you into the stunning living / dining area where you can sit in comfort admiring the traditional bay windows. The kitchen is located just off the living area where you are able to watch TV or chat to your guests while preparing a meal.
The beautifully decorated bedroom is also accessed via the living room and the two sash windows ensure that light floods in to keep the room as bright as possible.
Local area information
Built in approximately 1890 this building is located within the well-established residential location close to Hove seafront and the famous Lawns and is also less than a mile away from Hove station which is perfect for commuters with direct rail links to London and Gatwick Airport.
This is your chance to be the proud shared owner of this stunning property close to Hove Seafront where you can enjoy a walk, run or cycle along the Promenade. The seafront hosts sports galore: pitch and putt, a paddling pool, a skateboard park, trampolines and tennis courts. If you prefer watersports, Hove Lagoon is a sheltered spot where beginners can try their luck at surfing, paddle-boarding and wakeboarding. If you love shopping or need some style inspiration, Hove is home to vintage boutiques, homeware and furniture stores and bookshops plus many more. High Street brands jostle with unique independents and you are never far from a refreshment stop within the established café culture and quirky restaurants as well as pubs on street corners. There is no shortage of shopping, leisure and entertainment in the City of Hove.
Prices are not available yet for Gilmour House but you can register your interest to be notified when prices become available.
Plot breakdowns are not available yet for Gilmour House 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.