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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Wellend Villas, 2 bed homes
This is your chance to own a 40% share in a modern, spacious and well-presented two-bedroom, third-floor apartment, available through Shared Ownership in Brighton, in Preston Circus/Preston Park area.
Walking through the front door, a welcoming hallway leads around to a door on right where you will discover the family bathroom which boasts shower over bath and is neutrally decorated.
To the right and directly opposite the bathroom you will discover both the spacious double bedrooms. Each bedroom feels light and airy, as large windows allow the light to flood in. The bedrooms are neutrally decorated throughout and are the perfect rooms to get creative in and make them your own!
The open plan kitchen/living/dining room is a great size and perfect for entertaining family and friends. There is ample space for a dining table and chairs and the modern well equipped kitchen boasts plenty of work top and cupboard space.
Leading out from the living/dining room is a delightful balcony offering views over Springfield Road. It is the perfect space for a table and chairs and easy to imagine sitting out and relaxing after a long day!
There are beautiful communal gardens to enjoy as well as a bicycle store.
Local area information
The apartment is within walking distance of the vibrant, diverse and exciting city of Brighton which has something to offer for everyone!
There are plenty of attractions to enjoy from Brighton Palace Pier, the Royal Pavilion, the popular British Airways i360 and the stunning Brighton Marina.
Why not visit one of many restaurants! From the classic Fish and Chips to innovative vegetarian restaurants plus a zero waste restaurant!
The famous Theatre Royal presents a range of West End and touring musicals & plays as well as performances of opera and ballet.
For living music, entertaining, interesting exhibitions and conferences then why not check out the Brighton Centre!
If you prefer something more active, there is plenty on offer from powerboat driving, windsurfing, water skiing, kayaking to diving and fishing tours!
Brighton Station and Preston Park mainline stations are close by and offer regular services into London and Gatwick Airport.
Min share price from: £116,000 for a 40% share
Full price from: £290,000
There is only one available priced at £116,000 for a 40% 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.