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%.
Located south of Cambridge in the delightful market town of Saffron Walden, Radwinter Road is a collection of two-bedroom bungalows and three and four-bedroom houses, available now through shared ownership.
These impressive homes are designed with a high specification to suit a range of lifestyles and built to high standards of sustainability. Each one is contemporary in design, with a stunning specification and flexible living areas, and they are ready for you to make your own.
Prices start from £400,000 but, with shared ownership, you could be purchasing from a 25% share for as little £100,000. If you're buying with a mortgage you'll only need a 5% deposit on the share you purchase, which means your mortgage deposit could be as little as £5,000**
*This is based on a 25% share (£100,000) of a two bedroom bungalow valued from £400,000 with a 5% mortgage deposit (£5,000). The share you purchase is dependent on affordability and your personal circumstances.
Photos and CGIs are for illustrative purposes only and may feature previous developments.
Local area information
Our homes at Radwinter Road are just on the outskirts of Saffron Walden, a delightful medieval market town 15 miles south of Cambridge.
You’ll find local amenities close at hand with several major supermarkets close-by. The area is served by a selection of primary and secondary schools, many rated as “Outstanding” by Ofsted*, and Saffron Walden Community Hospital is also nearby.
Rich in heritage, the nearby town of Saffron Walden has a great deal to offer. You’ll find plenty of places to eat and drink, many independent shops, and twice-weekly markets in the historic Market Place. The award-winning Saffron Hall hosts a variety of concerts and events featuring local, national and international artists. There are also several local gyms and a golf course.
Radwinter Road is in a great location for travelling both locally and further afield. The local area is served by plenty of bus services, and you’re less than 8 miles from Audley End railway station, located on the Cambridge - London Liverpool Street line. The M11 is less than 14 miles, with easy access to Cambridge (20 miles) and London (56 miles), while Stansted Airport is just 14 miles away and offers flights to numerous domestic & European destinations.
*Information correct at time of writing (Dec 2019)
Min share price from: £110,000 for a 25% share
Full price from: £440,000
Minimum deposit from: £5,000
There are 2 available ranging from £110,000 for a 25% share to £126,875 for a 25% 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.