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%.
St Johns Road
One bedroom third floor flat, in the London Borough of Hounslow, available to buy through Shared Ownership. Full market value £265,000. 25% share available, share price £66,250.
Monthly Mortgage*: £352.19
Monthly Rent: £387.21
Other Housing Service Charge**: £0
Notting Hill Service Charge: £134.33
Ground Rent: £0
Council Tax: £100.42
Estimated Total (per month): £873.73 (excluding council tax)
** Service Charge payable to Notting Hill
The monthly mortgage is based on an interest rate of 4.99 % with a capital and interest repayment over 25 years. It is based on a 90% mortgage The rent may increase each year, the increase calculation will be specified in the lease.
Rear communal lobby entrance via metal steps, stairs to upper floors
Flat entrance, hallway, kitchen and reception room, bedroom and combined bathroom/w.c
Parking located at the rear of the development which is gated.
35.25 square metres ( 379 sq. ft ) as per RICS valuation
Length of lease