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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Valley Rise, 3 bed homes
Now Available! We are proud to offer a range of 3 bedroom homes at this exclusive Taylor Wimpey development, Valley Rise in Crawcrook!
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Local area information
Situated in the village of Crawcrook in Gateshead, Valley Rise provides an excellent range of 2, 3 & 4 bedroom homes in a choice of designs to suit all lifestyles.
Perched at the top of the Tyne Valley, the development has fantastic views across the area & benefits from a host of nearby local amenities.
With a rich history in mining, the village of Crawcrook is ideally located with excellent commuting links into Northumberland, as well as Gateshead, Newcastle City Centre & further afield via the A1.
The local high street, is ideal for nearby amenities, as are the neighbouring villages of Ryton, Greenside & Blaydon which lead to the popular Metro Centre for some retail therapy.
Nestled at the foot of the Tyne Valley is the beautiful Close House stately home which features the enviable greens of its golf course - rated amongst the top 100 in the world.
Min share price from: £39,000 for a 25% share
Full price from: £156,000
Minimum deposit from: £1,950
There is only one available priced at £39,000 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.