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 Saltdean, 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 Saltdean 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 Saltdean 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.
“If you are considering Shared Ownership, I would 100% recommend using Share to Buy to learn more about the scheme and assess your options. Shared Ownership is an excellent stepping stone into the property market – it’s worked so well for me. It’s given me a freedom and flexibility I wouldn’t have had if I bought on the open market!"
“We were delighted when our application was successful, we moved in a few months later and settled in really quickly. It definitely feels different now we are home owners, it’s so satisfying knowing we own this place. There is no doubt that Shared Ownership is a good way to get onto the housing ladder in London.”
“The huge number of properties listed on the Share to Buy website gave me a lot of choice all in one place, even with my limited budget. Shared Ownership meant I could afford a brand new home in Zone 3, which I didn’t think I would be able to manage in a million years for my first home.”
Are you a first-time buyer worried about achieving your home ownership aspirations? Well, Shared Ownership homes in Saltdean could be your ideal solution. They can help you take that vital first step onto the property ladder. Similarly, Help to Buy homes in Saltdean offer affordable options for buyers looking to lay down roots in locations they love.
To stay up to date with the latest Shared Ownership and Help to Buy properties in Saltdean, all you need to do is sign up to Share to Buy. From there, you can register to receive alerts when relevant properties become available in your desired area.
Surrounded by the likes of Brighton, Newhaven and Lewes, many places would perhaps fade into the background in comparison to such splendid parts of the country. After all, they boast some truly incredible beauty, attractions and huge personalities. However, Saltdean is no ordinary part of the country. It’s stunning greenlands alone set it apart from the pack, filled with impeccable farmlands and the magnificent South Downs National Park.
It is probably little surprise considering the great greenery all around you that Saltdean initially made its name in the farming industry, thanks to its rich, bountiful land. In fact, its modern history doesn’t begin until 1924. This is a big part of the reason why it remains so unspoiled by the sometimes-wearing passage of time.
Much of Saltdean looks exactly las it did centuries ago in terms of natural beauty. That is something that, unfortunately, not that many places can still claim. And, of course, it’s impossible to talk about the many gorgeous sights in Saltdean without mentioning that astounding coastal view. Broken up by chalky white cliffs, it is, like so many of Saltdean, timeless.
However, we don’t want to give the impression that Saltdean hasn’t progressed over the last century. This is an area that has left the vital sights untouched while modernising elsewhere to make a perfect place to live and visit. It’s more than a pretty face: it’s a community, with a distinctive depth of character that can be found in everything from the chippy to the pier.
For many people, Saltdean is a place to go for the weekend to get away from everything. To be fair, it’s a pretty great place to do exactly that. But we think it’s an even better place to call home, thanks to just how much there is to do, see and experience here. And that’s not to mention it’s wonderful neighbouring areas, which would be an asset anywhere.
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