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 Walthamstow, 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 Walthamstow 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 Walthamstow 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.
“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.”
“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.”
“A friend at work had just signed up on the Share to Buy website and said I should register too. I didn’t know much about Shared Ownership so the Share to Buy website was really helpful, giving me all the information that I needed about the scheme. It turned out that there were a few properties in my area, so I registered for all of them!”
It’s all too easy for first time buyers to feel as though that vital first step on the property ladder is out of their reach. With Shared Ownership homes in Walthamstow, their home ownership aspirations may be closer than ever. The same goes for Help to Buy homes in Walthamstow, which can be a great option for buyers looking to get the keys to their dream home.
Do you want to keep up to date with the latest Shared Ownership and Help to Buy properties in Walthamstow? All you need to do is sign up to Share to Buy. From there, you can register to receive alerts when relevant properties are added to your desired market.
When the biggest issue you have with an area is that it offers so much to do, see and experience, you know it must be somewhere pretty special. But before we go over some of the things that makes Walthamstow so great, we’ll begin by talking about its terrific transport options.
This area is served by the London Underground, London Overground and National Rail networks. Therefore, it’s important to remember that when you live in Walthamstow, you’re not just getting everything this district has to offer but the rest of London too. Of course, in terms of opportunities and experiences, that is a package that cannot be beaten.
So, what exactly does Walthamstow have to offer? The real question is where to start. There’s all its fantastic employment and educational opportunities, for instance. Away from the world of work though, you will find a deeply cultural and forward-thinking part of the capital. It boasts the likes of William Morris Gallery and God’s Own Junkyard, which provide captivating artistic outlets. There’s also the many historical sites and museums showing that Walthamstow has as much respect for the past as it does ideas for the future.
It’s also an area with a fun side. Places like Jurassic Falls Adventure Golf and Altitude Adventure High Ropes provide a wealth of family fun, alongside all that culture. Perhaps most surprising for an area this close to the centre of the capital though is the impressive number of parks and green spaces. These tranquil settings are something that many people worry they are going to miss out on when they move to London.
Another thing that Walthamstow has over comparable districts is an undeniable community spirit, as evidenced by the annual Walthamstow Garden Party. Perhaps more than that though, this welcoming atmosphere is felt in the many pubs, cafes and restaurants run by locals and supported by their fellow residents.
This is an area where people can create something great and prosper, through the support of their neighbours, friends and wider community. That’s not to say that this is any kind of act of charity. Anyone who has been to Walthamstow can tell you just how amazing their local businesses are, from the incredible food to local breweries.
So, what is Walthamstow? Well, it’s a little bit of everything.
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