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%.
The property itself is located on the second floor and after you open the front door you will see the hallway stretching in front of you with storage cupboards. The first door on the right leads you into the well decorated living area from where you access the modren fitted kitchen. The second door on the right leads to the bathroom and the bedrooms are located at the end of the hall. The master benefits from built in storage.
The property comes with one undercroft parking space so you will be assured of a space when you return home from your travels. the vendors have no on ward purchase so there's no chain.
Please note measurements are approximate and for guidance only:
Lounge: 4.6m x 3.89m
Kitchen: 4.58m x 3.89m
Bedroom: 2.2m x 4.62m + 2.56m x 0.94m
Bedroom: 2.43m x 2.71m + 1.3m x 0.93m
Local area information
Located within an established residential area of Pulborough this second floor, two bedroom apartment is offered for shared ownership sale.
Two nearby supermarkets offer convenience on your doorstep and several other independent retailers are also close by.
Nature reserves, castles, a Roman Villa and museums are all within easy reach.
The rail link through to London Victoria makes this a popular area for commuters.
Min share price from: £100,000 for a 50% share
Full price from: £200,000
Monthly rent from: £227
There is only one available priced at £100,000 for a 50% 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.