Property Shared ownership schemes

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Shared ownership could be the answer to buying your first home Getting on the property ladder is something most people aspire to. Whether you’re looking to put down roots locally or further afield. You may have just started saving or have a nice little ‘nest egg’. For many the goal of owning their own home is way out of reach. If this is the case, then shared ownership may be the right direction to help you onto the property ladder. What is shared ownership? Contrary to what the name may suggest, shared ownership doesn’t involve sharing with anyone. Shared ownership simply means that you part-buy a house and part-rent it, essentially buying a share of a property instead of the whole thing. The flexible thing about shared ownership is you can start off with buying 25% of a house and renting the other 75% at a tenancy cost, at a fraction of what you’d normally pay in rent for the home under a private landlord. You can then get a smaller, more manageable mortgage, pay a deposit that’s only on the share you’re buying and save the extra to buy more shares in your property and work your way up the ladder without moving anywhere at all. The scheme allows you to avoid some of the bigger upfront costs that many struggle with when buying their first home and the heavy mortgages that banks are reluctant to lend and first time buyers are reluctant to take on. How shared ownership can help you We all have our own reasons for wanting to buy a home, be it wanting to settle down and start a family, avoiding wasting money on renting alone or wanting to make a financial investment to take you from living with Mum and Dad to full blown independence. Shared ownership is suited to first time buyers mainly due to the low deposits that could have you paying as little as 2.5% of the total value and the ability to apply for a smaller mortgage if you’ve not quite aced the credit score just yet. With a wide selection of homes available, from semi-detached houses to smaller apartments, Sussex has a great range of shared ownership properties so there’s no compromising when it comes to finding what you want. A fast track route onto the property ladder and an affordable way to buy your first home, shared ownership comes with a whole heap of benefits, taking you from home moaner to homeowner sooner than you may have considered. Find out more on: www.propertybooking.co.uk To view local properties for rent and for sale visit our portal at www.sussexlocal.net/property-search Getting on the property ladder Help for first time buyers

Featured Property Currently featuring Storrington & Pulborough properties - more coming soon!

£950,000 Storrington Tudor Lodge, Sandgate Lane. An attractive family home constructed circa 1938 occupying approximately 1/3rd of an acre, located just over a mile from Storrington village centre. The property is presented in first class order having been sympathetically extended with spacious reception hall, triple aspect sitting room, split-level dining room, feature kitchen/breakfast room with semi-vaulted ceiling, utility room, study and ground floor cloakroom, four bedrooms with en-suite facilities to bedrooms 1 and 2. Extensive parking leads to a detached garage with attractive gardens to all sides of the property. Contact Fowlers: 01903 745844

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