Sage Homes: Shared Ownership vs Renting
Get on the property ladder with Shared Ownership
As the rental market in London sees rising monthly costs and increased instability with many private landlords electing to sell their homes, we’re taking a look at how Shared Ownership can offer a different way into owning a home.
No deposit drama
With prohibitive deposit requirements, buying a home outright can seem like a pipe dream. Shared Ownership allows a much smaller deposit and is based only on the share of the home you’re buying (you can buy between 10%-75% straight away).
Minimal monthly costs
Shared Ownership homes’ monthly repayments are often significantly less costly than an outright mortgage would be. You’ll also find that they are often less than renting privately – giving you the best of both worlds.
Ethical, regulated rents
Wave goodbye to private landlords turfing you out whenever they want or raising the rent hugely each year. The rental section of your home operates on an agreed annual increase in line with inflation and is verified with the whole sector – meaning no nasty surprises. And as you own part of your home, you can live there for the length of your lease (usually 99+ years) as long as you pay your rent and mortgage payments.
Tantalisingly tax free
Shared Ownership homes are normally free from Stamp Duty Land Tax (as long as it’s your initial purchase), making it even easier to access.
Your first step up – and not your last
Our Shared Ownership homes are there to help you on your homeowning journey and we encourage all customers to consider buying more shares in the future, up to 100% of their home in a process called staircasing. If you purchase up to 100% you’ll be rent free – only paying your mortgage, service charges and ground rent.
Equally you can sell the shares you own at any time, giving you the funds to take your next step on the housing ladder.
Want to know more?
If you’re interested in how Shared Ownership could be the path for you, why not join us on Saturday 20th July as we present Sage Homes’ Shared Ownership showcase in London. Register your place here!
This is an exciting chance to learn more about Shared Ownership, hear from experts about the buying process and common myths, as well as chat to our sales team about the homes we can offer across London and beyond.
Join Sage Homes on Saturday 20th July 2024Register to attend their Shared Ownership showcase in London
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home-buying schemes such as Shared Ownership via our article index.
