Coronation Fields, Finchampstead

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Buy A New Home In Berkshire

Shared Ownership Homes for Sale in Berkshire

One of the home counties, Berkshire makes a great place to set up home – and with Shared Ownership in Berkshire on the table you can do this for a fraction of the price.

Perfect for those who commute to London, and for those who like to be close to the city but still have the peace and quiet offered in beautiful Berkshire. Berkshire, given its position in relation to London and great job prospects, is an affordable place to live – and given the flexibility offered by Shared Ownership in Berkshire you can set up home here for less than ever.

Don’t worry, you don’t have to actually share your home with anyone, other than your own family perhaps (but that’s up to you). Contact our friendly Aster Sales team for more information. Interested in getting on the property ladder? Register with us for property alerts to be kept informed regarding future homes for sale in Berkshire.

Where is Berkshire?

Berkshire is located in South East England and as we mentioned it is one of the home counties. What does that mean we hear you ask? Well it could be your home county, but what it actually means is that it is one of the many counties which make up the border surrounding the city of London.

Being a home county makes Berkshire a desirable place to live for many – it is affordable yet has many benefits due to its proximity to London including great transport links and job opportunities.

What to do in Berkshire

Berkshire, due to its close proximity to London, is a diverse county bursting with culture. Its rural towns are the perfect cross between city and small town life – a hub of arts, culture, music and great food yet still affordable and home to plenty of beautiful scenery.

You could be enjoying the nightlife of London one day and strolling through the beautiful Berkshire countryside the next.

Where to go in Berkshire

Another interesting fact about Berkshire? Home to Windsor Castle this county was actually registered as the Royal County of Berkshire in 1957 by the Queen. So, make sure to take in Berkshire in all its royal glory.

Should you have had enough of exploring Berkshire and it’s royal heritage, you are in luck as Berkshire sits on the Great Western Main Line Railway and the M4 – you will be in London in practically seconds (well, maybe a little longer). If you want to live in this beautiful county, why not take a look at our full collection of Shared Ownership houses for sale in Berkshire?

FAQ

  • What is shared ownership?

    So, what is shared ownership? Shared ownership is a government-backed scheme designed to help individuals who may not afford to buy a home outright on the open market.

    Under this scheme, you purchase a share of a property (typically between 25% and 75%) and pay a reduced rent on the remaining share.

    Over time, if you wish, you can buy more shares in your home, a process known as "staircasing", until you own 100% of it. This approach makes homeownership more accessible for many and serves as a stepping stone towards full homeownership.

  • How does Shared Ownership work?

    Forget about having to scrape together a deposit upwards of £10,000 - shared ownership works by allowing you to purchase a share of a home – usually between 40% and 75% to make it more affordable (in some cases, you can even buy as low as 10% depending on the terms of the lease).

    This means you only pay a mortgage on the percentage of the property you own with a deposit as low as 5% of the total share amount, you then pay a below-market rent on your brand new home to us at Aster. It can help you get on the property ladder much faster and provides long term security.

    Find out more about how does shared ownership work here and if it is right for you.

  • How do I qualify for Shared Ownership?

    There's a few bits and pieces you need to tick to be able to buy a shared ownership home, but not much. These are:

    • You must be 18 or over
    • Your household is bringing in no more than £80,000 income a year (or £90,000 if you're in London)
    • You don't own a home already
    • You may be in the process of selling a home, however, to be able to buy a shared ownership home from us, the property sale must have an offer accepted before we will accept your application
    • You're able to show you can afford to maintain the costs of buying your own home
    • You're a British or EU/EEA citizen or have indefinite leave to remain
  • Who do I share with?

    You don’t have to share your shared ownership home with anyone, other than your partner or your family of course. You’ve bought it and you can live as you please, just as with any other home purchase. The term shared ownership is just used to describe the relationship between you and Aster.

  • How can I buy a Shared Ownership home?

    The first step in buying your shared ownership home with Aster is to contact us, either by filling in the contact form or over the phone.

    Beginning your journey to shared ownership is not as daunting as you may think, once you know if you meet the criteria you can begin searching for suitable properties. Once you have found a home, you will of course need to ensure you meet the required criteria and be approved for a mortgage.

  • What happens when I want to sell my Shared Ownership home?

    When you want to sell, your property gets valued and placed on the market with Aster at a rate of 1.5% then after the nomination period set out in your lease, then if your home hasn’t sold, you’re free to go to another agent of your choice and sell it through them.

    Find more information on selling your shared ownership home here.

  • How does Aster support the purchase process?

    At Aster, we're committed to making your shared ownership journey smooth and stress-free. From the moment you express interest in a shared ownership property:

    • Consultation: Our dedicated Sales Negotiators will discuss your needs and guide you through the available properties that match your criteria.
    • Financial Guidance: To ensure clarity on costs and other financial matters, we direct you to our trusted partner, TMP, who are specialists in shared ownership mortgages.
    • Viewings: For new builds, viewings are conducted once the home has been reserved or after it's been handed over. For re-sales, the vendor themselves will manage and conduct the viewings, ensuring a personalised experience.
    • Paperwork & Legalities: We offer assistance with the paperwork, guiding you through the application process, and liaising with solicitors to ensure the legal side is handled efficiently.
    • Post-purchase Support: Even after you've moved in, we have a post-sales team that will be able to assist with any queries or support you may need, ensuring your transition into your new home is seamless.

    It’s worth having a read through our Shared ownership guides to understand the shared ownership buying process to understand exactly how Aster can help you throughout the process. Don’t just take our word for it. Here’s some of our wonderful customers explaining their situation and how Shared Ownership from Aster has helped them.

  • How do Shared Ownership mortgages work?

    Having the right understanding of mortgages, how they work and which ones work best for you is incredibly important. It could save you thousands. We all know mortgages weren’t readily discussed in schools – but don't worry we’re going to take you through everything you need to know about mortgages – and, more specifically, shared ownership mortgages.

    There are a range of mortgages available to you – but the main two you need to know about are fixed rate mortgages and variable rate mortgages. And these are pretty much exactly as they sound:

    Fixed rate mortgages are the ones where your interest rate is fixed for several years, usually 2, 3, 5 or 10.

    Variable rate (or, standard variable rate) mortgages involve an interest rate set by each mortgage lender and the borrower (you) will revert to this once your initial fixed rate term expires. And, you guessed it, this rate can ‘vary’.

    More information can be found on our mortgage page.

  • Are there any additional costs involved?

    Yes, as with any property purchase, there are additional costs to be aware of:

    • Deposit: This is a percentage of the cost of the share you're buying, not the total property value.
    • Mortgage Fees: Depending on your lender, there may be arrangement fees or valuation fees.
    • Solicitor's Fees: This covers the legal work associated with purchasing a home.
    • Stamp Duty: Depending on the property value and your circumstances, you might need to pay Stamp Duty Land Tax.
    • Home Insurance: You'll need to insure your new home, and there might be associated costs.
    • Service Charge & Maintenance: If the property has communal areas or services, you might need to pay a monthly service charge.

    It's essential to factor in these costs when budgeting for your shared ownership home. Our team at Aster is here to guide you through these expenses, ensuring there are no unexpected surprises.

    Read through our guide to fees. We’ll walk you through these.

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