The easy, manageable way to buy
Having a real stake in your home is a great feeling and shared ownership can make it a reality for you. Tens of thousands of people across the country are already living in shared ownership homes, now it's time to find yours!
Benefits of shared ownership:
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Buy and own a significant financial share in your home, rather than just renting with no return.
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Lower monthly costs as your combined monthly mortgage and ‘rent’ - the fee we charge on the bit you haven’t bought - could be less than buying outright and are often around the same as renting an equivalent home.
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Smaller deposits as the amount you need is based on the share you’re buying, rather than the whole property value.
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Buy more shares at any time until it’s all yours - we call this ‘Staircasing'.
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Move on whenever you want, simply sell your share for its market value at the time.
Most shared ownership homes are sold as leasehold. We’ll make it clear if you are buying the leasehold or the freehold of your home when we advertise our properties.
How does it add up?
You own the share you buy and pay a monthly fee on the share you don’t. Your deposit and mortgage are calculated on the size of the share you buy.
As an example:
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Full market value = £200,000
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40% share = £80,000
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5% deposit required = £4,000
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Monthly mortgage = £569*
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Monthly fee = £275
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Total monthly mortgage & fee = £844
* This example is based on a mortgage rate of 5% and a term of 30 years. Please note that rates & terms vary.
Eligibility
People from all walks of life can buy a shared ownership home. You’re probably eligible, if these three statements apply to you:
- Your annual gross household income is less than £80,000
- You do not currently own a home which was purchased on the open market
- You have no outstanding credit problems.
You can check you eligibility on the Help to Buy website, however, we will also assess your eligibility as part of the application process. You no longer need to a Help to Buy reference number or to register with them. You can apply directly to us by completing this form .
Find out more
Join our mailing list to be the first to know about new shared ownership homes near you.
The team is here to help, so please start a live chat or give us a call:
Meghann Sutton: 01733 396 440 for application enquiries
Mary Elmore: 01733 396 406
Sherrie Pope: 01733 396412
Anj Dawson: 01733 385066
Email us at sales@crosskeyshomes.co.uk or start a Live chat Monday to Friday, 9am to 5pm.
We're here to answer your questions