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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Poultney Rise | Bromford, 2-3 bed homes
Our latest collection of 2 & 3 bedroom homes in Clifton Campville are beautifully designed with stylish fitted kitchens with built-in oven, hob and extractor hood, modern bathroom, double glazing and high performance insulation, gas fired central heating, great storage, allocated parking spaces and turfed rear gardens.
Local area information
A new home in Clifton Campville puts you in the heart of the glorious West Midlands countryside, yet within easy reach of the historic city of Tamworth, and several bustling towns.
The closest of these is Tamworth, a large market town just 6.6 miles away. Tamworth boasts several historical buildings, including Tamworth Castle, a 900 year old Motte and Bailey fortress. The Castle’s surrounding ‘pleasure grounds’ are made up of open grasslands and floral terraces, an extensive adventure playground and a state-of-the-art-skate park, all of which are free for visitors to use.
Tamworth also offers a cinema, trampoline centre, indoor ski slope, ice rink, and health club, as well as the ever-popular Drayton Manor Theme Park and conservation zoo.
The Ankerside Shopping Centre and Ventura Retail Park (2 miles out) have you well covered for shipping, whilst a good choice of well-reviewed local restaurants make Tamworth a great choice for an evening out.
For a taste of city life, head to Lichfield, just 11.5 miles away, where you’ll find live theatre, music, dance and comedy at The Garrick Theatre, and even greater choice in shopping and dining.
Min share price from: £75,000 for a 40% share
Full price from: £187,000
Minimum deposit from: £3,750
Monthly rent from: £258
There are 2 available ranging from £75,000 for a 40% share to £88,000 for a 40% 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.