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%.
Moat at Langley Square
First phase sold out!
A brand new collection of modern apartments for shared ownership are coming soon to Langley Square in Dartford.
Further homes for shared ownership will be release later in the year.
Local area information
The capital is never too far away with Dartford train station on your doorstep. Trains serve London Bridge, Cannon Street, Victoria and Charing Cross, with journey times all within just 50 minutes. Oyster cards are accepted on bus and train journeys across Dartford. The Fast Track bus service links Dartford with Bluewater and Ebbsfleet International.
Major road links are easily accessible, including the M25 and A2 to London and M2 towards the Kent coast. Local residents also receive a significant discount on the Dartford crossing over to Essex and beyond. High speed Eurostar services to the continent run from Ebbsfleet International, which is just a 15 minute drive from Langley Square. Travel to Lille, Paris and Brussels in under two hours.
Min share price from: £83,250 for a 30% share
Full price from: £277,500
Minimum deposit from: £4,125
Monthly rent from: £445
There is only one available priced at £83,250 for a 30% 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.