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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Half Penny Meadows, 2-3 bed homes
Half Penny Meadows, Clitheroe is made up of three bedroom houses and two bedroom apartments now available on part buy - part rent.
Local area information
Half Penny Meadows is a fabulous development of 2 & 3 bedrooms homes in Clitheroe.
A choice of amenities are close to hand and a five minute drive will take you to the heart of Clitheroe itself where the eye-catching Norman Castle provides a backdrop to the town. The high street offers a fantastic mix of specialist independent stores and well know mainstream shops as well as a choice of cafes, pubs and restaurants. The vibrant market is held three days a week - with many a bargain to be had from the local traders. Then local schools are of a very high standard, many of which are Ofsted outstanding.
Found in the heart of the Ribble Valley, the development is ideal for those who like the great outdoors. With its spectacular fells and lush green valleys, there is plenty for everybody to enjoy.
With the A59 and M65 both conveniently placed, Half Penny Meadows is perfectly situated for commuters with Preston, Blackburn and Burnley all within easy reach. Clitheroe train station also provides regular services to Manchester Victoria station.
With its fabulous countryside setting and outstanding choice of new homes, Half Penny Meadows is the perfect choice for your next move.
*Images are for illustrative purposes only. Please speak to Sales Adviser for full details*
Min share price from: £37,500 for a 25% share
Full price from: £150,000
Minimum deposit from: £4,125
There are 2 available ranging from £37,500 for a 25% share to £37,500 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.