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%.
The Claygate Collection - Apartments
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A collection of two-bedroom apartments and three-bedroom with allocated parking.
Finished to the highest standard, these homes offer all the space and comfort that modern living dictates. These apartments are available through shared ownership in Ebbsfleet.
Applicants must be approved by Help to Buy as eligible for shared ownership.
Priority will be given but not exclusively to those currently living or working in Dartford Borough.
Local area information
Part of Ebbsfleet Garden City, a brand new development which will offer 15,000 new homes and seven new city-scale parks, these homes will have something for everyone. With easy access to the A2 and M25 getting around couldn’t be easier. The highspeed rail link from nearby Ebbsfleet International station will have you in Stratford in just 10 minutes and St Pancras in 17, it is also home to Eurostar connecting you to Paris, Brussels and beyond. Bluewater shopping centre is virtually on your doorstep complete with over 300 stores, 50 restaurants and a 13 screen cinema with IMAX
Min share price from: £56,250 for a 25% share
Full price from: £225,000
Minimum deposit from: £2,813
Monthly rent from: £387
There are 3 available ranging from £56,250 for a 25% share to £58,750 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.