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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Hampton Lea, 3 bed homes
Offering a mix of 3 bedroom semi-detached and town houses now available for sale with Shared Ownership. Ideal for first time buyers and growing families.
Local area information
Life in Malpas
Malpas is a lovely picturesque village in south Cheshire.
St Oswald’s, a 14th century church, stands at the highest point of the village and is also near the site of a Norman Motte and bailey castle.
For foodies, there is a regular Farmer’s Market and for those who prefer a nice pub, the village has several.
Hampton Lea is just a 5 minute walk from the local primary school and the local secondary school is an Ofsted ‘Outstanding’ provider.
Malpas is a also great base for exploring Cheshire, Shropshire and North Wales.
Min share price from: £35,625 for a 25% share
Full price from: £142,500
Minimum deposit from: £2,375
Monthly rent from: £218
There are 2 available ranging from £35,625 for a 25% share to £38,440 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.