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£90,000
Shared ownership
Shared ownership is when you buy a share in the property of between 25 and 75 percent of its market value and pay rent on the share that you do not own. The exact percentage is subject to the individual criteria of each new development or scheme.
Most people put down a small deposit on their share (10 to 15%, depending on your mortgage lender) and take out a mortgage on the rest. You can then 'staircase' your share in the property - building up to 100% in most cases.
Am I eligible?
If your annual household income is more than £80,000 you will not be eligible.
You will also need £2,000 to cover the legal costs of buying a home, plus enough money saved for your deposit - which will be from 10 to 15 per cent of the cost of your share, depending on your mortgage lender.
You must not have loans exceeding £15,000 or be in mortgage/rent arrears. You must be able to obtain a mortgage and prove that you can pay your rent and service charges.
Remember you will also have to pay household bills including gas, electricity and water.
For more information get in touch with our sales team on 01403 226060
Based on a minimum 40% share at £90,000 the monthly rent is £247.59 and a service charge of £178.85. A spacious two-bedroom fourth floor apartment with a large reception and two large bedrooms in a quiet location. The property located in East Grinstead within walking distance of the high street and train station and other amenities such as shops and bars.
Purchase breakdown
Monthly charges apply. Within the current financial year from 1 April 2025 to 31 March 2026; these consist of the following (subject to final confirmation):
Shared Ownership minimum share of 40% £90,000
Monthly Rent: £247.59
Monthly service charges: £178.85
EPC = D
Council Tax Band = C
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