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%.

Read more about Shared ownership (Opens in new window)

Mosbach Place, 1 bed homes


Cannon Street, Lymington, New Forest, SO41 9NQ

Shared ownership

Starting prices

55% share from
£101,750
Full price
£185,000
Minimum deposit
£5,087
Monthly rent
£197
Monthly service charge
£64

Overview

>One bedroom, first floor apartment
>Available on Shared Ownership resale
>Deposits starting at £5,087*
>Minimum household income: £30,547 per annum

Your new home
Featuring an open-plan living room / kitchen fitted with an integrated oven, hob and hood. The bedroom is a comfortable size, and the bathroom benefits from a white, three-piece suite, including a shower over the bath.

Additional information
Allocated parking is provided for one car.

0800 telephone numbers are free of charge from BT landlines. Non-BT customers and mobile phone users should contact their service providers for information about the cost of calls.
Images may be computer generated and are for illustrative purposes only, so may not be representative of exact plots. Images may be of a different model of home. Individual specification, fittings and features such as windows, brick, carpets, paint and other material colours may vary. Any furnishings are not included in any sale, but are for guidance only.
*Affordability and eligibility criteria apply. All figures are illustrative based upon buying a minimum share. Purchase share values will be determined based upon applicant’s individual financial circumstances, in line with Homes England guidelines. Applicants will be referred to a nominated mortgage advisor for a financial assessment and will be expected to maximise the percentage of share they purchase.


Local area information

Mosbach Place is located just five minutes’ walk to Lymington town centre and train station^.

^Source – Google Maps, 27 May 2020.


Plot availability

Plot number 9
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 55%
Minimum share price £101,750
Full market price £185,000
Monthly rent £197
Monthly service charge £64
Ownership Leasehold
  • Lease term remaining: 113 years
  • Open-plan living area
  • Fitted kitchen with oven, hob and hood
  • White sanitaryware to bathroom
  • Allocated parking

FAQ's

Min share price from: £101,750 for a 55% share
Full price from: £185,000
Minimum deposit from: £5,087
Monthly rent from: £197
Bedrooms: 1
Bathrooms: 1

There is only one available priced at £101,750 for a 55% 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.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Radian
Shared ownership

Starting prices

55% share from
£101,750
Full price
£185,000
Minimum deposit
£5,087
Monthly rent
£197
Monthly service charge
£64