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%.
One bedroom second floor flat in the London Borough of Wandworth, available to buy through Shared Ownership. Full market value £425,000 35% share available, share price £148,750
Monthly Mortgage**: £790.77
Monthly Rent: £494.59
Service Charge Estimate*: £226
NHHO Admin Fee: £13.50
Council Tax: £71.33
Estimated Total (per month): £1,524.86 excluding council tax
*Service Charge payable to Rendall & Rittner
**Estimate: The monthly mortgage is based on an interest rate of 4.99 % with a capital and interest repayment over 25 years. It is based on a 90% mortgage The rent may increase each year, the increase calculation will be specified in the lease.
Intercom, entrance hall, passenger lift and stairwell
Entrance hall, open plan kitchen / living room bedroom and bathroom with W.C
Communal Gardens and Grounds
Communal Bike Store
50 square metres (538 sq ft) as per RICS valuation
E – Step Free
Length of lease
- 24 hour Concierge