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%.
Read more about Shared ownership (Opens in new window)
Horizons Tower - ref NH18, 2 bed homes
Second floor, 2 bedroom apartment in the London borough of Tower Hamlets for £132,500 (25% share) share price of £530,000.00 (full market price), available through Shared Ownership.
*Monthly Mortgage: £670.18
Monthly Rent: £ 958.48
Service Charge: £257
Administration Fee: £13.50
Council Tax: £1,638 (yearly)
Estimated Total (per month): £1867.16 excluding council tax