Ready to make an Aster home your home?
At Aster, our mission is to help you discover a home that's perfect for you - not just any house. With our incredible shared ownership program, we can offer you the opportunity to find a stunning property in an ideal location that might otherwise have been inaccessible, due to the large deposits required for traditional home purchases.
Call the team on 01380 735 480 to discuss your needs today!
FAQ
What is shared ownership?
What is shared ownership? It's a great way of buying your first home without the large amount usually required to secure a mortgage. The scheme allows you to purchase an initial stake in the property while paying rent on any remaining share. Not only that, but it also makes getting on the property ladder more affordable than ever before!
Still have questions? Take a look at our how does shared ownership work guide.
What is staircasing?
Staircasing allows you to gradually increase your ownership of your home, up to a maximum of 100% (depending on the terms of your lease), when it suits you. This gives you more power over the price and rent that comes with owning such an asset. By staircasing, homebuyers can take their time in making these decisions rather than having one large amount at once.
For more details on how staircasing works, take a look at our comprehensive guide.
Do I need a deposit when buying with shared ownership?
Absolutely, you must pay a deposit when investing in shared ownership. The amount will depend on the size of the share you choose and should not exceed 5-10% of your home's purchase price.
Understand what deposit you need for a shared ownership property here.
Who is eligible for shared ownership?
Shared ownership is a great choice for those who are not able to purchase their own property in full. This provides them with the chance to become homebuyers and enter the housing market. However, specific requirements must be met before taking advantage of this type of investment:
In order to be qualified for this program, you must fulfil the following criteria: permanent UK residency, an annual household income of no more than £80k (or in London—£90k), and a proven capability to make ongoing monthly payments. Additionally, it is required that you do not own any other property at present.
Can I make adaptations/alterations or home improvements to my shared ownership property?
Before making alterations to your shared ownership home, ensure that you check with your landlord first. Depending on the property, certain guidelines may be in force and must be adhered to. Generally speaking, any adjustments need permission from the freeholder. It is important to acknowledge that whatever changes are made will remain part of the house when it gets sold; therefore this needs careful consideration regarding finances.
Who are Aster?
We are a well-known housing association who supply a wide range of housing options in response to the housing crisis. We specialise in providing shared ownership homes for sale for those unable to get on to the property ladder.
We provide affordable rental and shared ownership homes throughout the UK, and pride ourselves on our commitment to providing outstanding service to all of our customers.
With shared ownership, you could buy your own property at a fraction of the cost and we aim to make buying your home an easy and stress-free process, with our experienced team offering comprehensive advice throughout.
Where can I learn more about shared ownership?
At Aster, we understand that buying a property can be a daunting experience, so our team of experts are always happy to answer any questions or queries you may have about shared ownership or the process involved in purchasing your own home.
Our website also has an FAQ page full of useful information to help you make an informed decision. Alternatively, you can contact us directly and one of our experienced team members will be more than happy to assist.
