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%.
One bedroom, first floor flat in the London Borough of Ealing, available to buy through Shared Ownership. Full market value £205,000 25% share available, share price £51,250.
Monthly Rent: £274.19
NHHO Service Charge*: £179.23
Estimated Total (per month): £453.42 excluding council tax
*Service Charge payable to Notting Hill
**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
External Communal areas
Guest room (1 single and 1 double available at a cost of £10/£15 per night)
47.4 square metres (510 sq. ft ) as per RICS valuation
D – Easy Access
Length of lease