Common questions and answers, take a look at our buyers guide or read our FAQ's section.
Just like any home, a shared ownership home will come with its own set of monthly bills, which will need to be considered ahead of securing your property.
As you own part of your shared ownership home, you will need to make repayments on your mortgage until this has been repaid. This amount can vary depending on the amount you have borrowed and how long your mortgage term is.
Access this handy mortgage calculator to give you an idea of costings.
We will calculate how much rent and service charge you will need to pay, and the exact figure will be shared with you following your application. This tends to be around 2.75%.
For example:
Property value: ÂŁ200,000
Your share: 40% (ÂŁ80,000)
Our share: 60% (120,000)
Yearly rent (charged at 2.75%): ÂŁ120,000 x 2.75% = ÂŁ3,300 per year
Monthly rent: ÂŁ3,300 divided by 12 = ÂŁ275 per month
Service charges are charged separately from your rent and is an additional payment towards the cost of providing and maintaining any communal areas and services outside your home.
The cost of your service charge will be confirmed with you following your application.
Buildings insurance is included within your service charge payment. This covers the financial cost of repairing damage to the physical structure of your property.
Contents insurance, which covers items such as your carpet, furniture and personal belongings is your responsibility and something we would encourage you to get.
Take a look at contents insurance quotes on Compare the Market or Confused.com.
Other monthly costs to bear in mind include:
Common questions and answers, take a look at our buyers guide or read our FAQ's section.
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Shared ownership is a great way of buying your own home.
About Shared OwnershipCurrent shared ownership properties, as well as those that are coming soon.
Available homesYou can purchase further shares in your home from us at any time up to the full value.
Shared ownership staircasing guideThe buying process can seem a bit daunting, but it doesn't need to be.
Steps to buying a shared ownership homeWe're building new affordable rental and shared ownership homes.
Building new homesIsn't it exciting - you're looking to buy your first home or getting back on the property ladder!
Have you seen our new homes in #wells? đđĄ
These 1-bedroom #SharedOwnership properties are perfect if you're looking to buy your first home or get back on the property ladder.
Get in touch with the team and apply today!
⨠01225 715846
⨠ecs.page.link/bTfCe
đ Plot 118 - Backbridge Farm, #malmesbury
This fantastic home is one of our last remaining 3 bedroom #SharedOwnership homes until our next release later this year đĄ 40% minimum share ÂŁ134,000.
Start your home ownership journey today:
đť www.selwoodhousing.com/find-a-home/buy-a-home/backbridge-farm/
A stunning afternoon in #warminster at Tascroft Rise for customer viewings. âď¸đĄ
Could we be helping you find your next home? đ Take a look at our available #SharedOwnership properties here: ecs.page.link/28Sxd
