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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Montbray, 2-4 bed homes
Montbray, Barnstaple is made up of 2, 3 and 4 bedroom apartments / houses now available on part buy - part rent.
Local area information
Close to the town centre and enclosed in beautiful countryside, this distinctive development will feature a range of brand new contemporary homes, built to a high specification, as well as public open space. Linden Homes are creating an exclusive new development of stunning 2 bedroom apartments as well as 2, 3 & 4 bedroom family houses for sale in Barnstaple in a truly beautiful setting.
Close to the River Taw Estuary, and leading to WestWard Ho!’s award winning beach, this perfectly placed development will provide a rare opportunity to live in a beautiful part of the south west. These Properties for sale in Barnstaple benefit from a wide range of amenities, including a train station, good schools, a district hospital, the Queen's theatre, museums and art galleries, shops, bars and restaurants.
Min share price from: £84,975 for a 50% share
Full price from: £169,950
Minimum deposit from: £4,050
There is only one available priced at £84,975 for a 50% 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.