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)

Bartle Meadows, 2-3 bed homes


Downy Close, Preston, Wyre, PR4 0NB

Shared ownership

Starting prices

25% share from
£36,125
Full price
£144,500
Minimum deposit
£1,806
Monthly rent
£248
Monthly service charge
£41

Overview

Brand new two and three bedroom terraced homes set on the Morris Homes new build development in the sought after location of Cottam. 

These properties comprises a lounge, modern fitted kitchen/diner with Neff integrated appliances, downstairs W.C., first floor landing, two bedrooms and a three piece family bathroom. Externally there are gardens to the front and rear, and off road allocated parking.

Prices on this development start from 25% equity share. You will need a minimum 5% deposit (of the share value) for mortgage purposes, plus monies to pay for solicitor fees, moving costs & furnishings. 

 


Local area information

At Bartle Meadows there is a variety of new homes to suit all types of buyer. Locally there's a choice of great bars and restaurants and you'll also be just a few miles from Preston city centre. With lots of green open space on the development and running alongside Lancaster Canal, it is the ideal place to buy your new home. The village of Cottam is located on the outskirts of the city of Preston in Lancashire, and is within reach of the resorts of the Fylde coast, including Lytham and Blackpool. 


Plot availability

Plot number 332
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £36,875
Full market price £147,500
Monthly rent £203
Monthly service charge £40
Ownership Leasehold

About the home
A 2 bedroom mid-terrace home comprising of living room access to the front of the home, leading though to down stairs W/C central of the home .The kitchen/dining is located at the rear of the home having feature French double doors leading out onto the garden.

The first floor gives access to all rooms from the staircase with Bedroom 1 to the front of the home, with bedroom 2 and the family bathroom to the rear.

The home also has allocated parking.

 

Pricing and Affordability 

The share options below are based on the full market value of £144,500

  • 25% Share £36,125 (Rent £248.36 pcm)
  • 40% Share£57,800 (Rent £198.69 pcm)
  • 50% Share £72,250 (Rent £165.57 pcm)
  • 75% Share £108,375 (Rent £82.79 pcm)
Plot number 333
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £36,875
Full market price £147,500
Monthly rent £203
Monthly service charge £40
Ownership Leasehold

Pricing and Affordability 

  • 40% Share £55,980 - Rent £192.43 pcm
  • 50% Share £69,975 - Rent £160.36 pcm
  • 75% Share £104,963 - Rent £80.18 pcm

Entrance Hall 
External composite door to the front aspect, radiator, solar panel point, and staircase to the first floor. 

Lounge 
11’7” x 15’10”
Double glazed window to the front aspect, radiator, TV, and telephone points.

Kitchen/Diner 
8’0” x 14’8”
Fitted with a range of modern wall and base units, complimentary work surfaces incorporating one and a half stainless steel sink and drainer with mixer tap and splashbacks. Under unit lighting, Integrated Neff appliances including oven, gas, hob, stainless steel extractor hood, fridge and freezer. Plumbed for a washer, dining area, wood effect vinyl flooring, ceiling spot lighting, double glazed window and patio doors to the rear garden.

First Floor Landing 
Radiator, spindle balustrade and loft access. 

Bedroom One 
8’0” x 12’10”
Double glazed window to the front aspect, radiator, and TV point.

Bedroom Two 
8’0” (max) x 9’10”
Double glazed window to the rear aspect and a radiator.

Bedroom Three 
7’8” x 5’8”
Double glazed window to the rear aspect and a radiator.

Family Bathroom 
Three piece suite comprising bath with mains shower over and glass screen splash back, pedestal wash hand basin, dual flush low level W.C., extractor, radiator, over stair storage cupboard, and double glazed window to the front aspect. 

Front Garden 
External lighting, Lawned area with planted borders. 

Rear Garden 
Fence enclosed garden mainly laid to lawn, patio area, external lighting, and gated access. 

Allocated Parking 
Two allocated off road parking spaces. 

Plot number 331
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £38,125
Full market price £152,500
Monthly rent £210
Monthly service charge £40
Ownership Leasehold

About the home
A 2 bedroom mid-terrace home comprising of living room access to the front of the home, leading though to down stairs W/C central of the home .The kitchen/dining is located at the rear of the home having feature French double doors leading out onto the garden.

The first floor gives access to all rooms from the staircase with Bedroom 1 to the front of the home, with bedroom 2 and the family bathroom to the rear.

The home also has allocated parking.

 

Pricing and Affordability 

The share options below are based on the full market value of £144,500

  • 25% Share £36,125 (Rent £248.36 pcm)
  • 40% Share£57,800 (Rent £198.69 pcm)
  • 50% Share £72,250 (Rent £165.57 pcm)
  • 75% Share £108,375 (Rent £82.79 pcm)

FAQ's

Min share price from: £36,875 for a 25% share
Full price from: £147,500
Minimum deposit from: £1,806
Monthly rent from: £203
Bedrooms: 2
Bathrooms: 2

There are 3 available ranging from £36,875 for a 25% share to £38,125 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.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Sage Housing
Shared ownership

Starting prices

25% share from
£36,125
Full price
£144,500
Minimum deposit
£1,806
Monthly rent
£248
Monthly service charge
£41