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)

Rose Street, 2 bed homes


Rose St, Benfleet, Castle Point, SS7 1FH

Shared ownership

Starting prices

30% share from
£65,000
Full price
£216,667
Minimum deposit
£10,833
Monthly rent
£284
Monthly service charge
£147

Overview

Moat is pleased to bring to the market this one bedroom first floor apartment available through shared ownership in Southend-on-Sea.

 

• Entrance hall with double storage cupboard
• Living/dining room with Juliet balcony, open plan to kitchen
• Modern fitted kitchen with a range of matching wall and base units in cream gloss finish, with contrasting worktop over
• Built-in oven and hob with extractor over, space and plumbing for washing machine.
• Two double bedrooms (one with built-in wardrobe)
• Bathroom comprising of white suite with panelled bath and overhead shower, wash hand basin and WC
• Allocated parking space
• Gas central heating
• Lease date: 125 years from 1 January 2016
• EPC rating – B (84)
• CO2 emissions – B (88)
• Council tax band – C
• Pets will not be permitted in apartments


Local area information

Situated in Benfleet in Castle Point, Essex. Benfleet railway station is less than three miles away with regular services to London Fenchurch Street, Southend and Shoeburyness. Nearby Benfleet High Street offers a variety of stores and cafes. The property is conveniently situated for access onto the A127 and A13.


Plot availability

Plot number 22
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 30%
Minimum share price £65,000
Full market price £216,667
Monthly rent £297
Monthly service charge £106
  • Entrance hall with storage
  • Living/dining room (5.45m x 5.3m) with neutral décor and fitted carpet. Open plan to kitchen
  • Modern fitted kitchen (2.96m x 2.53m) with a mix of base and wall units. Integrated oven, hob, extractor hood, fridge/freezer plumbed for washing machine
  • One double bedroom (3.82m x 3.28m) with fitted carpet
  • Modern fitted bathroom W/C (2.0m x 2.24m) with white suite.
  • Overhead shower to bath with glass shower screen
  • Gas central heating to radiators
  • Double glazed windows
  • Off-road parking
  • Lease date: 125 years from 1 January 2016
  • EPC rating: B (83)

FAQ's

Min share price from: £65,000 for a 30% share
Full price from: £216,667
Minimum deposit from: £10,833
Monthly rent from: £297
Bedrooms: 1
Bathrooms: 1

There is only one available priced at £65,000 for a 30% 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.

No, but it all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Moat
Shared ownership

Starting prices

30% share from
£65,000
Full price
£216,667
Minimum deposit
£10,833
Monthly rent
£284
Monthly service charge
£147