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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Roman Heights | Orbit, 3 bed homes
Orbit is proud to present Roman Heights Phase 2, a selection of three bedroom houses, in the sought after village location of Streethay, a beautifully maintained residential village near Lichfield.
Within the catchment for several good schools, and benefitting from a new, purpose-built primary school that will also offer nursery places, Roman Heights is an ideal development for young families.
Our Sales Office is now open for viewings by appointment only. Please contact us to arrange a time which is convenient for you.
Local area information
Roman Heights offers outstanding transport links, thanks to being located so near to the centre of the UK road network. It is within a very short drive of two major roads whose Roman predecessors, Watling Street and Ryknild Street, inspired the development’s historically-themed name. Now, the A5 runs west towards Wales and south-east towards Tamworth, and the A38 runs south to Birmingham and northeast to Burton upon Trent and Derby. Access to the M6 Toll is just five miles away from Roman Heights, with the M42 and M6 also within easy reach.
Nearby Lichfield is a vibrant and historic city located in the heart of Staffordshire, boasting an award-winning array of restaurants, cafes and pubs. Its streets are lined with museums, independent shops, and mouth-watering restaurants, and Lichfield Cathedral is a famous 12th-century building.
Families will enjoy many days out to the National Forest Adventure Farm, Curborough Hall Farm Countryside Centre, and Cannock Chase – classified as an Area of Outstanding Natural Beauty – is less than ten miles from Lichfield.
Min share price from: £106,000 for a 40% share
Full price from: £265,000
Monthly rent from: £398
There are 2 available ranging from £106,000 for a 40% share to £106,000 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.