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%.
Two bedroom mid-terraced house, in the London Borough of Hounslow available to buy through Shared Ownership. Full market value £325,000, 50% share available, share price £162,500.
Monthly Rent: £308.85
Notting Hill Administration Fee: £9.45
Notting Hill Insurance for Service Charge: £13.27
Council Tax: £117
Estimated Total (per month): £1,195.44 (excluding Council Tax)
*Service Charge payable to Notting Hill Housing
**Estimate: The monthly mortgage is based on an interest rate of 4.99 % with a capital and interest repayment over 25 years. It is based on a 90% mortgage The rent may increase each year, the increase calculation will be specified in the lease.
Entrance lobby, living room, kitchen.
Landing, two double bedrooms, bathroom/WC.
Front and rear garden
59.72 sq. m. (643 sq. ft.) as per RICS valuation
F – General Access
Length of lease