What is Shared Ownership?
|Minimum share price||£117,000|
|Full market price||£234,000|
|Ownership||Leasehold - What is this?|
Freehold is where a person or organisation has outright ownership, forever, of a property and the land it’s built on.
Leasehold is a long-term tenancy where someone buys the right to live in a property for a certain period, usually 99 or 125 years. Unless the leaseholder makes arrangements to extend it, once the lease ends, ownership of the property returns to the freeholder. As a leaseholder, if you own a property in a block of flats, you don’t own the land the property sits on. This is owned by the freeholder of the property. Leaseholders usually pay ground rent too.
The rules a leaseholder must follow are governed by a contract, known as the lease. It can include restrictions on what they can do to a property. For example, whether they can have pets and whether they can rent the property out. The lease will also detail the leaseholder's rights. These may include, for example, the right to use the common parts or gardens, or to park a car in a shared car park.
In London, leasehold is most common as a tenure to sell flats. However, some houses are also leasehold, although this is more common outside of London.
Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.
For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.
As soon as you walk into the Jonson through the sheltered front door, you know you’re home. Set in the heart of stunning Lake District countryside, this stunning 3-bedroom property gives you the very best in contemporary living.
On the ground floor is the thoughtfully designed kitchen/diner that has stylish finishing touches throughout. Equally as impressive is the spacious living room with French doors overlooking the patio and rear garden. Upstairs you’ll find the master bedroom which not only has an en-suite but also a dressing area. Across the hallway is the family bathroom with a shower over the bath. There are also the two other well-proportioned bedrooms. Last and by no means least, an integrated single garage completes the Jonson.
- Kitchen/dining room
- Downstairs cloakroom
- Turf to rear garden
- Integrated single garage
- Sheltered front door
- Kitchen/dining room
- French windows from living room to paved patio in rear garden
- Master bedroom with dressing area and en-suite
- Family bathroom with shower over the bath
- Home office – double sockets and phone point to bedroom 3
This stylish property comes with high quality finishes as standard including:
- Bosch Fan assisted oven with gas hob
- PVC-u double glazed windows and French doors
- Integrated Fridge Freezer and Washing Machine
- Brushed steel electrical sockets and switches
- Spotlights to kitchen, bathroom and cloakroom
Along the various build stages of a new home you also have the opportunity to install additional extras and add your personal touches without the fuss after you have moved in.
50% ownership from £129,975
*Images are for illustrative purposes only. Please speak to Sales Adviser for full details*
**Prices vary across plots please speak to a sales advisor for more information**