Why shared ownership?

You could afford your own home sooner than you thought. Here's why shared ownership could be perfect for you

For some people, shared ownership is a great option

And because it's been such a popular choice, it's been helping people get their foot on the property ladder for over 30 years.

Here’s why we think it's stood the test of time...

Unlike buying somewhere on the open-market, you don’t need to find a deposit for 100% of the property. You only need to save up enough for the share you’re buying.

So, for example:

Open-market

£150,000 price
5%* mortgage deposit would be £7,500

 

Shared ownership

£37,500 (25% of the total price)

5%* mortgage deposit would be £1,875

 

* these are subject to what mortgages are available and whether you meet lender eligibility conditions

The experience with VIVID was good and the buying process easy. As a single mum, I was struggling to buy a house on my own, so feel very fortunate to find me and my daughter somewhere affordable to live. I couldn’t be happier!

And here's why else

As we’ll still own some of the property (as something called ‘a silent partner), we’ll need to make sure you can afford it and are able to keep making the payments for your share of the property. So, together we’ll go through your living expenses to make sure the share you buy is within your budget.

Enjoying life means having enough income to pay your monthly outgoings, as well as having something left over to enjoy yourself. Shared ownership helps you get that financial freedom as you pay less money for your new home on day one, than you would if you were buying it on the open-market.

All our homes come with something called a ‘National House-Building Council (NHBC)’ warranty or similar. It won’t mean much now but it does mean you won’t need to worry about any structural issues. It’s usually valid for 10 to 12 years.

No picture hook holes, wonky shelving, 1960’s wallpaper and worn carpets that all need replacing immediately. Instead you get bright, fresh, clean walls and neutral carpets and fittings, so you can put your stamp and personality into the property from day one.

When you buy with us, you can have the peace of mind knowing that we’ll be here to answer any questions for the whole time you own your home. What we mean is, we don’t just take your money and walk. We’re here to help you all the way. In future you might want help buying extra shares, or help finding a buyer if you choose to move on.

The beauty of shared ownership is that you can buy more shares as and when you can afford it – right up until you own 100% of the property. Or, you can stay as you are. The choice is yours.

We’re really proud that we offer a range of quality homes (at affordable prices) and in the right locations. We build homes that people want. And over the years we’ve worked with many private developers, like Barratts, Taylor Wimpey, Charles Church, Bellways, Redrow, Banner Homes (to name a few). We’ve seen and sold many different styles and types of homes. It means we know the all those certain designs and little details that people like and want in their new home.

Why buy from us?

We love the homes we sell. Here are four perfect reasons why you should choose us

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FAQs

All the answers to the questions we're often asked about shared ownership

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