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%.
On the outskirts of Devizes close to Bishops Cannings, is a fantastic new development of houses called Lay Wood. Here, we have a lovely selection of 2 and 3 bedroom houses available for shared ownership.
- Selection of pubs only a short walk away.
- Lidl supermarket approximately half a mile away.
- Great choice of primary and secondary schools in the area.
- Close to the local bus stop.
- Short walk to the Marina and canal path.
Local area information
Where is Lay Wood?
Right on the border between Devizes and Bishops Cannings, lies a wonderful new development of brand new homes. The development is in an excellent location, as it benefits from the stunning scenery and community feel of village life, whilst maintaining a short distance to Devizes town centre for a wide range of shops and activities. The development is perfectly located for journeys to Swindon via the A361 and access to the M4. The nearest train station is 14 Miles away in Chippenham, and there are regular buses from Devizes to Swindon, Chippenham, Trowbridge and further afield. Bristol airport is approximately an hour and a half away, and can take you to many international destinations.
What's near by?
Selection of pubs only a short walk away.
Lidl supermarket approximately half a mile away.
Great choice of primary and secondary schools in the area.
Close to the local bus stop.
Short walk to the Marina and canal path.
Interested in something to do
If you love an afternoon tea or coffee then you are in luck! Devizes market place is home to most of the town’s many coffee shops, restaurants, shops, pubs as well as the indoor market. There are many independent boutiques to discover down side streets and alleyways, all of which give the town a quaint, historic feel. Every Thursday, the weekly market provides fresh fruit and vegetables, homemade crafts, cakes, clothes and a wide variety of other things. There is a cinema and bingo hall locally, however only a short drive away in Swindon, there is a massive selection of things to from go carting, mini golf, bowling, ice skating and much more! Bath and Bristol are only approximately an hour’s drive away and also provide bigger selections of shops and leisure activities.
Min share price from: £80,000 for a 40% share
Full price from: £200,000
Minimum deposit from: £5,200
Monthly rent from: £275
There is only one available priced at £80,000 for a 40% 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.