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%.
A one bedroom third floor flat in the London Borough of Wandsworth, available to buy through Shared Ownership. Full market value £435,000 55% share available, share price £239,250.
Monthly Rent: £309.99
NHHO Service Charge*: £197.23
Notting Hill Administration Fee: £13.50
Council Tax: 58.33
Estimated Total (per month): £1,779.10 (excluding council tax)
*Service Charge payable to Mainstay Management Ltd
**Estimate: 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.
Intercom, entrance hall, passenger lift and stairwell
Entrance hallway, living room, kitchen, bedroom, bathroom/WC
46 square metres as per RICS valuation
D – Easy Access
Length of Lease