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%.
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Mitchell Gardens, 2 bed homes
The Smith style houses are a beautiful two-bedroom Cerris Home ideal for savvy property-seekers looking for a beautiful place to live in Staffordshire.
The ground floor of the property presents a hallway, spacious, open plan living room and dining area ideal for all aspects of family life, and a large kitchen.
A downstairs w.c. and upper floor staircase round off the ground floor. Upstairs, you'll find two ample bedrooms with the main family bathroom accessible from the landing.
Local area information
Kidsgrove is a town in Staffordshire and the birthplace of Spitfire designer, Reginald Mitchell. Near the Cheshire border, Kidsgrove is seven miles south of Congleton and 12 miles east of Crewe. With a population of around 24,000, the town provides all modern amenities combined with a rich history.
Located to nearby commuter links, new homes in Kidsgrove are favourites with both families and city workers.
Situated in Staffordshire but close to the Cheshire border, Newcastle-under-Lyme, Congleton and Manchester can all be reached from the A34. Stoke-on-Trent is a 14-minute journey on the A500, while the M6 is a 24-minute drive away. Kidsgrove is also home to a portion of the A50 for commuting to the north west and south east.
Kidsgrove has a railway station, with regular services connecting to Crewe, Stoke-on-Trent, Manchester and London Euston, while the nearest airport is at Manchester, located 24 miles away via the A34. The Trent and Mersey Canal also runs through the town.
Considered a large town, Kidsgrove has access to every amenity families require. With a variety of local shops, a health centre, library and supermarket, the area also benefits from a range of pubs, bars and places to eat.
For lovers of retail therapy, Freeport Talke shopping outlet is just an eight-minute drive away, while Tunstall Park, Westport Lake and Victoria Park offer havens for dog walkers and hikers.
There are a number of schools in the area including Dove Bank Primary School and Maryhill High School, with University Academy Kidsgrove providing a sixth form. Keele University is eight miles away, while Staffordshire University is a 15-minute drive away via the A500.
Min share price from: £36,250 for a 25% share
Full price from: £145,000
Minimum deposit from: £1,812
Monthly rent from: £249
There is only one available priced at £36,250 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.