Shared Ownership is an affordable home ownership scheme which makes it easier for eligible purchasers to get on the property ladder. Buyers get a mortgage for the share they can afford, and pay rent on the remaining share.
No – this is a common misconception but the ‘shared’ aspect of the scheme simply means you’re sharing ownership of your home with a housing association.
If you decide to buy a Shared Ownership home in Bloxham, you’re effectively purchasing a portion of your property. Your initial share will usually be between 25% to 75%, paying a mortgage on the part that you own and a below market value rent on the remaining share.
Yes – Shared Owners can choose to buy additional shares in their property by ‘staircasing’.
When buying a Shared Ownership home, you will initially purchase a minimum percentage somewhere between 25% to 75%. Down the line, if you find that your financial circumstances have changed, buyers will have the option to buy more shares.
If you choose to buy a higher percentage, your mortgage repayments will increase while the rent you pay will decrease. In the majority of cases there aren’t any restrictions and you can buy 100% of your home – in this instance, you would become the outright owner.
As a home-buying product aimed at helping those who can’t afford to purchase a property on the open market, there are certain requirements that buyers will need to meet to be considered eligible for Shared Ownership.
For example, there are caps on household income which means that you must earn less than £80,000 to be eligible for the scheme – or less than £90,000 if you would like to buy a home in London. The criteria also states that buyers must be at least 18 years of age and do not own another property either in the UK or abroad.
Shared Ownership properties enable you to put down a smaller deposit compared to those required on the open market – buyers will usually need to put down 5% to 10% of the share that they’re buying, rather than the full market value of the home.
On a monthly basis, buyers will be required to pay their mortgage, a subsidised rent and service charge on their home, however, these repayments often work out cheaper than or equal to renting privately in the same area. Other costs to consider when buying a home include solicitor and mortgage broker fees – you can find out more about these costs on Share to Buy.
Share to Buy lists thousands of Shared Ownership homes all across Bloxham and beyond – including new build properties and those available through resale.
Shared Ownership is available on a variety of homes including cosy studios, stylish apartments and traditional family homes. Check out our property search tool to start looking for your new home today!
The major providers of Shared Ownership, Help to Buy and other affordable ways to buy a home in Bloxham and nationwide have their homes listed on Share to Buy.
Share to Buy is the leading online portal for Shared Ownership properties. Established in 2004 as the UK’s first specialist online mortgage broker for affordable home ownership products, the site has since developed into a one stop shop for first time buyers, offering the country’s largest listing of Shared Ownership homes from many of the UK’s biggest housing providers.
Share to Buy is the nation’s biggest and best established affordable home ownership property portal, making it the ideal website for first time buyers looking to take that first step onto the property ladder.
Using our property search tool, you can search for homes that suit your needs via filters such as location, number of bedrooms, monthly outgoings and deposit amount. You can also set up alert preferences so you’ll be notified when new properties that meet your search are announced by email.
Acting as a one stop shop for first time buyers, Share to Buy also offers handy FAQs and guides, interactive mortgage tools, mortgage broker and conveyancing panels, and live events to help potential purchasers on their home-buying journey.
If you are a housing association or developer selling properties through Shared Ownership, Help to Buy and other affordable home ownership schemes, we can list your new build and resale homes on the Share to Buy property portal.
As well as working alongside Registered Providers, we also partner with private sellers who are looking to sell their current Shared Ownership home.
Find out more about advertising your Shared Ownership property on Share to Buy.
“From the moment I bought my first share, I knew that I wanted to staircase. A year after I moved in, I staircased to 75% and this past February I purchased the final share, and now I own my home 100% outright. I really do recommend Shared Ownership as a fantastic way to get into the housing market, it worked so well for me.”
I viewed the flat online and thought it looked great, but once I saw it I person, it felt so much bigger.
“I’d got it into my head that finding a Shared Ownership home would be quite a painstaking process, but Share to Buy made it so easy. I liked that you could do everything online – there was no posting off forms or long phone calls. The website was very visual, with plenty of photos, and it was so simple to use.”
For first time buyers, it can often feel as though the prospect of home ownership is unattainable. Thankfully, Shared Ownership homes in Bloxham can help give you the boost you need to take that vital first step onto the property ladder. Help to Buy homes in Bloxham are also a great option for potential buyers looking to lay down roots in their dream location.
Do you want to stay up to date with the latest Shared Ownership and Help to Buy properties in Bloxham? Well, it couldn’t be easier. Simply sign up to Share to Buy and register to receive alerts when suitable properties are added to your desired market.
Found in northern Oxfordshire just as the Cotswolds ends, Bloxham feels like it’s neatly tucked away in a sleepy corner of the country, going about its business as it has since Roman times. In a way, that’s part of this picturesque village’s charm. It might not have London levels of international recognition, but this makes it feel a little extra special, like a stunning little secret only a few thousand residents really get to enjoy and appreciate.
Always remember though that, while Bloxham may be small, the impact it has on those who live and visit there remains large. How could it not when you consider the many captivating sites and experiences that it has to offer? Its architecture is forged through Roman, Saxon, Medieval and modern history to create a smorgasbord of visual delights which are full of character, intrigue and personality.
There’s too many to mention here but just take, for instance, the Church of England parish church known as St Mary’s – with its commanding 14th-century spire looming majestically over the village. Or the superbly stately World Heritage Site Broughton Castle, a mere look at which lets you feel like you are being transported into a different time and place.
However, as incredible as these places all are, it’s important not to forget all the things which bring the community together on a daily basis. These include the exceptional schools, which educate the local children, along with the wide array of shops on the high street, from the newsagents to the local fish and chip takeaway and more.
These are all the little elements which come together to make somewhere more than just a tourist destination and transform it into a home. Of course, we can’t talk about Bloxham without mentioning its fantastic heritage of public houses, which still goes strong today.
Nearby, there’s also the magnificent Cotswolds, which has been an Area of Outstanding Natural beauty since the sixties, as well as Oxfordshire: a place brimming with opportunities and experiences. This means that Bloxham doesn’t just have its own charms but also opens you up to whole other parts of the country, each with their own distinctive offerings.
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