New build homes
Shared ownership is an affordable home ownership programme. It involves buying a share in a property, usually 50%, and paying rent on the remaining share you do not own. Gradually you may buy further shares in the property known as “staircasing” and eventually purchase the final share so you own your home outright.
- Croft View, Barnton Cheshire
- Barrington Park, Alsager, Cheshire
We are developing more new shared ownership homes across Cheshire. Please register your interest firstname.lastname@example.org
What are the costs associated with shared ownership?
You will need to finance the costs of buying a share in the property. This is normally done by arranging a mortgage.
The other costs of buying will be similar to those of any normal house purchase:
- Legal fees
- Stamp duty (if applicable)
- Valuation fee
- Land Registry fee
Once you have bought a share in a shared ownership home, you will need to consider the regular costs associated with home ownership:
- Monthly mortgage payments
- Council tax
- Water, gas, electricity
- Repair and maintenance
Also remember that further costs will be incurred when you purchase additional shares in the property.
Who does the repairs?
Shared owners have full responsibility for repairs and maintenance themselves