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Shared Ownership is an affordable way of getting onto the property ladder. You buy a share (between 25% and 75%) usually with a mortgage and pay an affordable rent on the remaining bit.
You only need a 5% deposit on the percentage share you own. So, if you were to buy a 25% share in a £300,000 property (£75,000), your 5% deposit would be just £3,750.
Like any other form of home purchase there are a few costs involved, but nothing we can’t walk you through. Find out more here.
Good shout. All homes bought through Shared Ownership are leasehold. In most cases, once you’ve purchased outright (a 100% share) we can make it freehold for you.
Absolutely. If the value of the property goes up so does your share. But its important to remember that housing market trends can also mean the value could go down.
No. You can buy between 40% and 75%, (sometimes even as low as 25% depending on the property). We usually advertise our developments at a 40% share as a starting point, but the share you buy is based on what you can afford following an affordability assessment.
Absolutely. It’s called staircasing. You can do this at any time, through to 100% outright ownership should you want to.
You don’t share with anyone. It’s your home. You’ve bought it. Shared Ownership is just a term to describe the relationship between you and Aster.
When you want to sell, your property gets valued and placed on the market with Aster at a rate of 1.5% then after 8 weeks if it hasn’t sold you’re free to go to another agent of your choice and sell it through them.
In most cases pets are ok. Just ask.
It’s your place, you’ve bought it. You can decorate how you want and live as you please.
It is your home. You’ve bought a share in the property and you’re paying Aster an affordable rent on the remainder.
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:
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Create an Aster account for alerts on homes right for you. You can update and adjust your alerts and ‘favourites’ through your own account as you go and you’ll be the first to get information on homes when they become available.
It’s an ownership thing.
To create your Aster account is easy. Fill out a few details below and we’ll do the rest like sending you an email or text message when homes that are right for you become available.
You will receive email or SMS when new homes are launched that match your criteria. In the meantime, we're a sociable bunch, so hook up with us on social media where you'll get to hear more from us on your choice of channel. You'll love it.