Shared Ownership

What Is It?

Shared ownership is a low cost home ownership scheme which enables you to get a foot on the property ladder by part buying and part renting a property.

You usually pay a mortgage on the part you own and a subsidised rent on the part you don’t own.

Providing you can afford to do so, (and whether this may be from your own resources or additional borrowing) you may buy further shares at any time in the future, in order to own the property outright. However, we do build some properties, particularly in rural locations, where you can only ever own 80% of the property value. This is to ensure that these homes are always retained for affordable housing. Wherever possible, in the case of rural exception schemes, priority for housing will always be given to local residents.

Am I eligible?

Eligibility for all affordable housing schemes is subject to funding. Priority will vary from each scheme depending on location and funding rules. To find out if you are eligible refer to the following criteria:

If you live in one of these following regions – Bedfordshire, Cambridgeshire, Northamptonshire, Forest Heath, St Edmundsbury and West Suffolk you need to contact Keyhomes East on 0845 456 6757 or email info@keyhomes-east.org.uk

If you live in Norfolk, or the other areas of Suffolk not listed above you need to contact Orbit First Step on 08458 502050 or email ofs@orbit.org.uk.

What are the costs involved?

Mortgages are available from many Banks or Building Societies. You will also be responsible for your own solicitor’s fees, but please speak to our sales team for information on our panel of solicitors and independent mortgage advisors.

You will be required to pay a subsidised rent on the remaining share. The rental payment will also include the service charge element of your home. Full details of costs for individual properties can be provided by our sales team. Combined mortgage and rental payments should not exceed 30% of the gross household income.

Properties Available for Shared Ownership

Pendrick Close, Coton                  40% share from £78,000

We have 7 two bedroom houses and 2 three bedroom houses for shared ownership sale. All the properties are decorated in neutral colours and benefit from a fully fitted kitchen/diner with hob, oven and extractor hood; fitted bathroom with white suite and shower over bath; ground floor cloakroom; carpeted throughout with vinyl to bathroom, kitchen and cloakroom; front and rear garden; allocated parking and double glazed windows.

Coton is a small rural village lying 3 miles west of Cambridge with links to A14 and M11.

For further information please contact our Sales & Marketing Officer on 01223 702269 or email sharedownership@grantahousing.org.uk

Barnaby Way , Haverhill      40% share from £58,000

last two remaining properties

We have the last two remaining properties available both of which are two bedroom semi detached houses on this newly built development.

For further information please contact our Sales & Marketing Officer on 01223 702269 or email sharedownership@grantahousing.org.uk

Roundhouse Park, Cringleford    40% share from £59,200

There will be 1 four bedroom house, 3 three bedroom houses and 16 two bedroom houses for shared ownership sale on this development just south of Norwich City.

For further information please contact our Sales & Marketing Officer on 01223 702269 or email sharedownership@grantahousing.org.uk

Moreton Hall, Bury St Edmunds    50% share from £52,500

last three remaining properties

We Currently have a one bedroom apartment, a two bedroom apartment, and a two bedroom house remaining on the popular development situated to the East of Bury St Edmunds.

For further information please contact our Sales & Marketing Officer on 01223 702269 or email sharedownership@grantahousing.org.uk

Upper Cambourne, Cambridge   40% Share from £52,000

We Curently have a range properties available comprising of 4 Two bedroom apartments, 5 two bedroom detached house, 2 three bedroom semi detached house's and a 3 bedroom detached house all available under the shared ownership scheme. These properties are eco homes very good certificated and have solar hot water systems

For further information please contact our Sales & Marketing Officer on 01223 702269 or email sharedownership@grantahousing.org.uk

Coming Soon

Upper Cambourne 2nd phase

Primes Close Barrington,

Gog Magog Way, Stapleford

Panel of Solictors

Here is a list of solictors that work in our area with experience in helping shared ownership buyers.

Norton Peskett
Exchange Square
Beccles
Suffolk. NR34 9HP

Telephone: 01502 718700
Website: www.nortonpeskett.co.uk
Email: a-wardle@nortonpeskett.co.uk

Pooley Bendall & Watson
2 Three Cups Walk
Ely
Cambridgeshire. CB7 4AN

Telephone: 01353 666075
Website: www.pbw.uk.com
Email: info@pbw.uk.com

Young & Co
65 Harpur St
Bedford
MK40 2SR

Telephone: 01234 344211

If you are a solictor and wish to be on our panel please contact our Sales & Marketing Officer on 01223 702269 or email: sharedownership@grantahousing.org.uk

Panel of Financial Advisors

Lee Pooley
CamOuse Financial Management Ltd
Unit 111 Lancaster Way Business Park
Ely
Cambridgeshire
CB6 3NW

Tel: 01353 662442
email: leepooley@camouse.co.uk
web: www.camouse.co.uk

Best Advice Financial Planning Ltd
Oceantech House
Station Approach
Cheam
Surrey
SM2 7AU

If you are a Financial Advisor and wish to be on our panel, Please contact our Sales & Marketing Officer on 01223 702269 or email: Sharedownership@grantahousing.org.uk

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