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)

Preston Road, 1-2 bed homes


Brighton, Brighton and Hove City, BN1 6SE

Shared ownership

Starting prices

35% share from
£99,750
Full price
£285,000
Monthly service charge
£209

Overview

Click on one of the links below to view our Virtual Tours:

Cypress Villa apartments

   Plot 1

   Plot 2

   Plot 7

   Plot 8

   Plot 14

   Plot 15

   Plot 21

3 bedroom house:

   Plot 28

 

Extremely rare for a Shared Ownership scheme, the development will be a mixture of new build and refurbishment, with the impressive refurbished Victorian villas housing 14 apartments and six new 3 bedroom family houses being constructed in the back gardens of the existing villas.

Two existing Victorian villas are completely refurbished to their former glory, a new apartment block built, and new family houses designed to complement the existing villas.

 

Designed by leading architects Yelo, Preston Road offers the highest quality of design and build for first time buyers. Set within the Preston Park conservation area, Southern Home Ownership have ensured a sensitive restoration of the villas, retaining many of the original period features.

Large sash windows, the majestic staircase and ornate balustrades have been carefully treated by an expert restoration team, while the poorly conceived link block built by the council in the 1950s has been removed and replaced with a contemporary brick building, designed to complement the Victorian architecture of the original villas.

 

Eligibility criteria

To be eligible for a Shared Ownership home at Preston Road, you will need to:

  • Have a gross household income of no more than £80,000 per annum.
  • Be unable to purchase a suitable home to meet your housing needs on the open market.
  • Not already own a home or you will have sold your current home before you purchase
  • Be registered with their local Help to Buy agent. To register with your Help to Buy agent, click HERE

If you are interested to see more, the next steps are:

 

1.       Check Eligibility Criteria above

2.       Register your interest

After you register on this page a member of the sales team will be in touch within 48 hours.

3.       After registering your interest, you will have an account area on this website, where you can access and complete the Application Form

4.       In order to proceed with a shared ownership purchase, we need you to complete a basic online financial assessment with the Financial Advisor. To complete your Financial Assessment online for Preston Road with MAB click HERE

5.       Book a viewing

Once the Financial Advisor has confirmed your affordability, and you’ve reviewed the floorplans and virtual tours, you’ll be able to make an online booking for a viewing in-person or call us to book a personal video tour with one of our helpful Sales Team Consultants.


Local area information

Preston Road sits in a perfect spot, with the beach only 2 miles away. This is the perfect place to enjoy a sunny Sunday afternoon, or watch the sun go down after a hard day at work.

The Preston Road site currently consists of two Victorian villas dating from around 1870, which were built as part of the Clermont Estate. The two villas were connected in the 1950s through a link block to form one building, all situated within a large garden with an array of mature trees.

These homes will be celebrating their history and decorative features, and wherever possible they will retain many of the existing room proportions and original features. 

This is a part of Brighton full of open spaces and the jewel in the crown is Preston Park, the biggest green area in the city and only 500m down the road from 251 Preston Road. The parklands are perfect for a summer’s stroll while sports lovers will appreciate the football pitches, tennis courts, cricket ground, basketball facilities and velodrome. There’s a celebrated rockery, filled with a diverse collection of flora and fauna, together with walled and rose gardens. For youngsters there is a choice of two playgrounds, as well as two cafés for the grown-ups to relax.

Brighton is a place beside the seaside that’s within an easy commute of London. From your front door in Preston Road it’s a three-minute walk to Preston Park station with regular services to London Victoria and Gatwick Airport. The main London road is even closer.

Living at Preston Road you will have local shops, schools and open parkland, together with a whole range of sports facilities within a few minutes’ walk. The town centre is not much further. There is a bus stop directly in front of 251 Preston Road with regular services in and out of Brighton along with many local cycle routes to ensure you will always feel well connected.


Plot availability

Plot number 5
Tenure Shared ownership
Availability Available
Minimum share 35%
Minimum share price £107,800
Full market price £308,000
Monthly service charge £234
Plot number 6
Tenure Shared ownership
Availability Available
Minimum share 35%
Minimum share price £111,300
Full market price £318,000
Monthly service charge £234
Plot number 1
Tenure Shared ownership
Availability Available
Minimum share 35%
Minimum share price £137,550
Full market price £393,000
Monthly service charge £268

FAQ's

Min share price from: £107,800 for a 35% share
Full price from: £308,000
Bedrooms: 1
Bathrooms:

There are 3 available ranging from £107,800 for a 35% share to £137,550 for a 35% 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

Southern Homes
Shared ownership

Starting prices

35% share from
£99,750
Full price
£285,000
Monthly service charge
£209