Shared ownership helps you buy a home in stages, paying subsidised rent on the part you do not own. In most cases, you will be able to buy further shares until you own the properly outright.
The scheme is available to anyone whose annual household income is less than £80,000 per year. Other conditions apply.
- Visit the Help to Buy East and South East shared ownership webpage to find out more and apply.
- Use the Help to Buy East and South East property search to find properties that meet your requirements.
- Check the Help to Buy East and South East website to find out about other low-cost or discounted market-rent products.
In October 2016, the indicative monthly cost of owning 30% of a property worth £325,000 was £1,035.91:
- Value of property: £325,000
- Value of a 30% share: £97,500
- Monthly rent: £437.52
- Monthly service charge: £70.48
- Monthly mortgage: £527.91 – based on a rate of 5.29% over 25 years with a 10% deposit
- Total monthly rent, service charge and mortgage: £1,035.91
Service charges, management fees and ground rent might also apply, and you’ll be responsible for all repairs and maintenance
You’ll also need to pay legal and survey fees, and stamp duty if the value of the property amounts to more than £125,000.
Your home could be repossessed if you do not keep up repayments on your mortgage.
The Virido apartments offer eco-friendly living around an open green space, close to convenient amenities. They’re located in the new community of Great Kneighton, in the south of Cambridge.
Find out more about these and other properties on the Help to Buy East and South East property search.
Email firstname.lastname@example.org if you’d like to receive updates about our new housing developments.